Lesser known Advantages of Credit Cards

When you are looking for a credit card, you will obviously choose the one that gives you the maximum benefits. Most of us are well aware of reward points and cashback offered by various credit card issuers, and we usually judge it based on that.

But there are some other benefits of credit cards that issuers have started to offer but are not so well known. These benefits are such that you cannot ignore them because it has the potential of saving you money.

Here is a list of those benefits:

Trip Cancellation Insurance

Reason if you have to cancel your trip then your credit card can reimburse you for non-refundable expenses. There are multiple credit cards that offer trip cancellation services and are subject to terms and conditions. To avail of this service, you will have to book your travel tickets with your credit card.

Baggage Insurance

Like trip cancellation insurance, a number of cards offer the service of providing insurance for the baggage in case of theft or loss. But again the terms and conditions at which this service is provided differ from card to card.

Airport Lounge Access

When it comes to airport lounge access, it depends on what type of credit card you are holding. If you are holding a premium card, then you will get access to multiple airport lounges around the world.

Cellphone Insurance  

If you are interested in providing insurance coverage for your mobile phone, then your credit card can help you in getting one. There are many credit cards that offer this service subject to terms and conditions which differ from card to card. One of the conditions will be to pay your mobile phone bills through your credit card.

Purchase and Return Protection

If something happens to the product you have purchased through your credit card, then purchase protection helps you with a cover within a specific period of time after the purchase.

Along with that, some credit cards also offer return protection which allows purchases to be given back for a refund even if the retailer does not take them back. So if you shop a lot, then ask your card issuer whether your credit card offers these services.

Getting Free Access to Your Credit Score

You must know your credit score so that you can monitor and take corrective steps if necessary. Earlier, you had to pay for the service in order to get updates each month. But now there are a few credit card issuers who are offering this service free of charge. So get a credit card that offers you this service and save your money.

These are some of the benefits which your credit card may be offering, but you may be unaware of them. If your credit card does not have these services then you better lookout for a card that has them.