Making purchases using credit cards usually has more than one perk associated with it. People tend to get so hung up on rewards miles and bonuses that they forget about the smaller, and quieter features provided to consumers by credit issuers. While these benefits rarely make the headline of a card's marketing campaign, these are benefits which can save users hundreds of dollars. But before these features can do that, it is important for consumers to understand they even have these options present. To that end, below are some of the best credit card benefits you might have not known about.
- Purchase Protection - Most major credit card issuers offer insurance on items you purchased using their branded piece of plastic. These benefits are usually capped at a certain amount per item, and given a window of approximately 120 days. Not all cases will be covered, however, so be mindful. Damage and theft are the major occurrences covered by purchase protection benefits. We typically see limits between $500 and $1,000 per item - however, your credit issuer could have different terms and limits. While it is not recommended that you rely on this insurance for items that are truly valuable to you, it is a nice benefit considering you do not have to pay any extra for this added peace of mind.
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