Most
people don’t take full advantage of the benefits that credit cards
offer. This may be because they don’t realize the benefits the card
offers, or they just don’t understand how to use them. Just as you use
debit cards to do your daily business such as renting a car, buying an
airline ticket or buying items online, you can use a credit card the
same way by paying the credit card off on a monthly basis and reaping
the benefits. Below are seven great ways to maximize your credit card’s
benefits.
1. Everyday Purchases
1. Everyday Purchases
When
you go out shopping and make a purchase from a place like Best Buy or
Home Depot, they will probably ask you if you want to buy an extended
warranty. The manufactures warranties on most products is one year, but
the right credit card has an offer to add one additional year of
warranty onto the end of the manufacturers warranty if you use their
card to purchase the item. What is the advantage? Two full years of free
warranty instead of one for no cost at all.
2. Purchase Protection
2. Purchase Protection
You
may be surprised at what purchase protection on a credit card will do
for you. Say for instance you go down to Lowe’s and purchase a gas
grill. You get it put in the truck to take home and the wind catches
hold of it and blows it out of the truck, onto the ground and smashes it
beyond use. Of course you think that you can’t return it as it was your
fault. But, with purchase protection on your credit card you used, you
can take the item back and have it replaced for free. The credit card
will reimburse your money completely.
3. Insurance
3. Insurance
When you go out
on a family trip or need to rent a car for a short time away, you are
going to be asked if you want rental insurance. If you use your own
credit card, this is part of the free benefits that are offered. You are
covered with insurance on the rental car as long as you use your credit
card to pay for the car. No cost!
4. Cash Back Points
4. Cash Back Points
Cash
back points are fantastic for credit card holders. These points can be
built up over time and you can either get cash back, or you can buy
products from companies with the points you have. It’s a good feeling to
walk to the mailbox and see a nice, fat check payable to you just
because you used your credit card. This works even if you pay off the
balance monthly.
5. Fraud Protection
5. Fraud Protection
Another
reward and benefit that credit cards offer instead of paying cash is
that it is much more safe and secure. If you happen to be robbed with
cash on you, you lose. If you have nothing but credit cards, they can be
cancelled and the charges swiped (if any) will be fraud protected and
cost you nothing.
6. Free Things
6. Free Things
Instead of
having to compete with other credit card companies for low interest
rates, many credit cards offer lots of free things instead. This can be
rebates off of purchases you make such as 1% off or getting 5% off gas
cost for using your card at grocery stores.
7. Credit Rating
7. Credit Rating
Your credit
rating can increase and improve every time you use your credit card.
When you show that you can charge and make payments on time, your rating
will go up. The more your rating goes up, the better credit you have
and the more chances you have of getting mortgage loans, car loans or
other loans you will need in the future.
These are just seven of the benefits of using credit cards and their perks. There are plenty more rewards and offers out there if you search and find the credit card that will work best to benefit you.
These are just seven of the benefits of using credit cards and their perks. There are plenty more rewards and offers out there if you search and find the credit card that will work best to benefit you.
Contributor ~ Evelyn Morris writes about finance, consumer advocacy & more at healthinsurancequotes.org.
Thanks for the useful information given by you. Its really beneficial to all of us.
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