5 benefits to using credit cards you may not know about

5 benefits to using credit cards you may not know about

RICHMOND, VA (WWBT) - Your credit card could have more added benefits than you think. Certain cards have perks that can save you big money if you know about them.

Savvy shopper Kimberly Rose always scours the fine print of credit cards to make sure she only applies for the ones offering her money-saving benefits.

"Over the years, I've saved thousands of dollars by using the credit card benefits," said Rose.

Kimberly remembers when her phone broke... right after the manufacturer's warranty expired. Luckily, she bought the device with her American Express card, which offered an extended warranty. MasterCard has a similar policy - it doubles the manufacturer or store warranty for up to a year.

"Most card holders don't know the services and benefits that their, the card in their wallet or their digital wallet hold," said Rose.

...Like price protection. If you buy an item but find it cheaper somewhere else, some cards will reimburse you the difference. No trip to the store needed.

If you miss a return deadline at the store, some cards allow you to fill out a form, ship the item to them, and get your money back.
"We have cardholders that are actually in the store, and actually call our call center to find out if that type of purchase is covered by their credit card," said Diana Robino for MasterCard.

Then there are the travel perks. Kimberly has two cards that double the amount of money she can get if an airline loses her luggage. Chase Bank reimburses some card holders for clothing and necessities when luggage is lost and pays for meals and hotels if your flight is delayed for more than 12 hours. If you have to back out of a trip?

"Some cards offer protections where, if you're sick and you can't travel, you know, you can cancel your reservations," said Matt Shultz from creditcards.com.

American Express works with some car dealers to give special discounts, claiming cardholders are saving thousands. If your car breaks down, some cards hook you up with roadside assistance.

Experts say it's important to read all that fine print to find out which perks apply to the specific card you have. Of course, you still need to watch for things like interest rates when you swipe.

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