I wrote about three credit card benefits you’re paying for but not using for GoBankingRates and BusinessInsider. Whether you pay interest on your carried credit card balances or whether you’re just subject to the natural increased cost of products due to retailers’ card processing fees, you’re paying for the cost of benefits that card issuers provide to their users. It’s not just cash back — benefits include extended warranties, purchase protection, and price protection. If you’ve never used these “free” features, you’re not taking full advantage of what you’re paying for.
- Extended warranties, if your card offers this feature, can extend the manufacturer’s warranty, usually up to one extra year. While retailers often try to sell you extended warranties on products at the point of sale, the option from your credit card issuer is often “free” and automatic.
- If your card offers purchase protection, you don’t have to worry about accidental damage for a period of time after the purchase. Even if you drop the item, the credit card might be able to replace it.
- Purchase price protection will help you receive from the issuer a refund if a product you buy is advertised in print at a lower cost than the price you paid.
There are some caveats to the coverage, and not every card offers the same features. Read the article for more information.
Here are a few recent articles worth mentioning.
Donna Freedman has a new column at MSN: Frugal Cool. In the regular column, Donna will be extolling the benefits of living within a frugal lifestyle.
Sustainable Personal Finance hosted the 349th edition of the Carnival of Personal Finance. The edition included the Consumerism Commentary Bank Switch Kit and Checklist as an editor’s pick. The Carnival includes a summary of many well-written personal finance articles from the past couple of weeks.
Don’t use your credit card in these four places. Free From Broke explains the riskiest situations for providing your credit card number. Identity theft and fraud are serious issues to consider, and providing someone your credit card number without some thought to your privacy could put you at risk.
Published or updated February 25, 2012.