Most Credit Cards Offer Little-Known Perks
Holiday Shoppers Should Take Advantage
AUSTIN, Texas, Dec. 7, 2016 /PRNewswire/ -- Most credit cards offer at least one valuable but little-known perk, according to a new CreditCards.com report. Among 100 frequently used cards:
- 81% offer extended warranties
- 57% provide purchase security
- 47% deliver price protection
- 26% guarantee returns even when the merchant does not
17% of the surveyed cards – such as Chase Freedom, Citi Prestige and Discover It – include all four benefits. 15% don't offer any. Click here for more information:
http://www.creditcards.com/credit-card-news/purchase-protection-benefit-survey-2016-chart.php
Extended Warranty Protection
- Lengthens the original manufacturer's warranty (usually by two years) at no additional cost when items are purchased entirely with the card.
- Not all items qualify: motorized vehicles and their parts, medical equipment and computer software are among the most common exclusions.
Purchase Security
- Replaces, repairs or reimburses cardholders for personal property that is lost, stolen or damaged.
- Generally limited to 90 days after buying the item.
- Jewelry, antiques, animals, plants, perishables and motor vehicles are usually not covered.
Price Protection
- If a cardholder buys an item and later finds the same thing for a lower price, he/she may be refunded the difference.
- In most cases, this is restricted to 2-4 months after purchase and capped at $250 to $500 per item and $1,000 to $2,500 annually.
Guaranteed Returns
- Broadens a retailer's refund policy. If the cardholder cannot get a refund from the merchant, the issuer may provide one.
- Limited to 90 days from the sale and most frequently capped at $300 an item/$1,000 a year.
"These perks are another reason why credit cards are a better option than debit cards and cash – as long as you can pay the balance in full each month," said Matt Schulz, CreditCards.com's senior industry analyst. "Hold onto your holiday shopping receipts and check back in a month or two to see if any of these offerings will save you some money."
About CreditCards.com:
CreditCards.com is a leading online credit card marketplace, bringing consumers and credit card issuers together. At its free website, consumers can compare hundreds of credit card offers from America's leading issuers and banks and apply securely, online. CreditCards.com is also a destination site for consumers wanting to learn more about credit cards. Offering advice, news, features, statistics and tools, CreditCards.com helps consumers make smart choices about credit cards. In 2015, over 27 million unique visitors used CreditCards.com to find the right credit card to suit their needs.
For More Information:
Ted Rossman
Public Relations Director
[email protected]
917-368-8635
Photo - http://photos.prnewswire.com/prnh/20161206/446312-INFO
Logo - http://photos.prnewswire.com/prnh/20151014/276819LOGO
SOURCE CreditCards.com
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