4 Hidden Business Credit Card Benefits You Should Be Taking Advantage Of
Credit card offers often consist of a rewards program, the APR and a bunch of fine print. But did you know that some of that fine print actually helps you? Check out these four hidden benefits that you should be taking advantage of.
1. Rental Car Protection
When you rent a car, you’ll usually be met with a heavy sales push to buy the rental car company’s damage waiver. Most major credit cards cover theft and accident damage when you pay for the rental with that card, so you don’t need to pay extra for protection.
Most cards offer secondary coverage which means you make a claim with your regular auto insurance company first, and the credit card company covers your deductible. Higher-end cards, often with an annual fee, offer primary coverage, so you don’t even need to make an insurance claim.
2. Return Protection
Is a store refusing to honor their return policy, or did you miss the return deadline? You may be able to get a refund by calling the number on the back of your credit card. This coverage is separate from the dispute process, so you may be able to receive a refund even if the store technically had the right to deny your return.
3. Price Protection
If you bought an item, only to watch the price go down or find a better price somewhere else, you aren’t out of luck. Price protection lets you get the better price without going through the hassle of returning the product and buying a new one.
To get the lower price, simply send in your receipt and the ad with the lower price. Once the credit card issuer verifies it, you’ll receive a statement credit for the difference.
On many cards, this even works with deals like Black Friday sales. Shop ahead of time to avoid the crowds, then send in your price protection claims once the specials are announced.
4. Travel Delay Assistance
When massive computer outages hit Delta and Southwest this summer, many travelers were stranded for days. Some travel cards will cover your hotel, meal and alternate transportation expenses if this happens to you.
This is typically a premium benefit only available with annual-fee cards, but if you’re a frequent traveler, you may want to add one of these cards to your wallet.
How to Find More Benefits
If you haven’t reviewed your full list of benefits, you could be missing out on hundreds of dollars per year. To find more benefits, first talk to the issuing bank. Mastercard and Visa also provide additional benefits to all cards with their logo, regardless of the bank.