How to Use Credit Card Perks Beyond Rewards

Credit cards offer much more than just rewards points or cashback. While many people focus primarily on earning rewards through their credit card spending, there is an entire suite of perks that often go underutilized. These perks can add significant value to your financial life, especially if you take the time to explore and fully utilize them. In this article, we'll explore how to use credit card perks beyond just the rewards and cashback to maximize the value you receive from your card.

Understanding Credit Card Perks

Credit card perks are benefits and services offered by credit card issuers that go beyond the simple accumulation of rewards points. These perks can include a variety of financial, lifestyle, and travel-related benefits that are designed to enhance your experience as a cardholder. Each credit card issuer provides a different set of perks, so it's important to understand the specific benefits attached to your credit card.

1.1 Types of Credit Card Perks

Credit card perks can generally be categorized into the following types:

• Travel Perks: These include travel insurance, airport lounge access, and travel assistance services.
• Financial Perks: These perks include fraud protection, purchase protection, extended warranties, and more.
• Lifestyle Perks: These may include concierge services, access to exclusive events, and discounts at specific retailers or restaurants.
• Health and Insurance Perks: Some credit cards offer access to free or discounted healthcare services, including free credit scores, health-related consultations, or discounts on health and wellness products.

By understanding the full range of perks available, you can ensure you're getting the most out of your credit card.

Maximizing Travel Perks

One of the most popular categories of credit card perks is travel-related benefits. Many high-end credit cards offer a range of travel perks that can help you save money, enhance your travel experience, and make your trips more convenient and enjoyable.

2.1 Access to Airport Lounges

Many premium credit cards, such as those offered by American Express, Chase, and Citi, offer access to airport lounges worldwide. These lounges provide a quiet and comfortable place to relax before a flight, along with complimentary snacks, drinks, Wi-Fi, and sometimes even showers and sleeping pods. The benefits of airport lounge access extend beyond comfort---they can also help reduce travel stress and improve your overall experience at the airport.

If your card offers lounge access, make sure to take advantage of it. Some cards even provide access to multiple lounge networks, so you can enjoy these perks at airports around the world.

2.2 Travel Insurance

Another valuable travel perk offered by many credit cards is travel insurance. This can include trip cancellation or interruption insurance, lost luggage coverage, travel accident insurance, and emergency medical coverage. These insurance benefits can save you a lot of money and provide peace of mind if something goes wrong during your travels.

For example, if your flight is delayed or canceled, your credit card may cover the cost of meals, accommodations, or transportation. Similarly, if you lose your luggage or experience a medical emergency while traveling, your credit card's insurance policy could help cover those expenses.

Before traveling, take the time to familiarize yourself with the travel insurance benefits of your card, so you can be sure you're covered in the event of an unexpected situation.

2.3 Travel Assistance Services

Some credit cards also offer travel assistance services that can help you during your trips. These services can include emergency travel arrangements, lost passport assistance, and even concierge services to help you book hotels or tickets for special events while you're abroad.

If you're traveling internationally or to a remote location, knowing that these services are available can be incredibly valuable. Many cards offer a 24/7 travel hotline that can assist you with various issues, making your travels much smoother.

2.4 Global Entry or TSA PreCheck Credit

Some credit cards provide reimbursement for the application fee for Global Entry or TSA PreCheck, which can significantly speed up your time spent at airport security. Global Entry allows expedited re-entry into the U.S. from international destinations, while TSA PreCheck provides faster security screening for domestic flights.

These programs can save you time, reduce the hassle of traveling, and make the entire airport experience more efficient. Check your card's benefits to see if this reimbursement is available to you.

Leveraging Financial Perks

Beyond travel-related perks, many credit cards also offer financial benefits that can protect your purchases and provide additional security.

3.1 Purchase Protection

Many credit cards provide purchase protection, which covers the cost of items purchased with the card if they are damaged, lost, or stolen within a certain period after purchase---typically 90 to 120 days. This can be particularly useful if you've made a large purchase, like a new electronics device or appliance.

Some cards even offer price protection, which reimburses you the difference if the price of an item you purchased drops within a certain timeframe. This can help you save money on purchases that fluctuate in price after the fact.

3.2 Extended Warranties

Credit cards often provide extended warranty benefits, which can extend the manufacturer's warranty on eligible purchases made with the card. For example, if you buy a new television with your credit card and the manufacturer's warranty lasts for one year, your card's extended warranty might add an additional year or two of coverage.

This benefit can be a lifesaver if an item breaks after the original warranty expires, saving you from costly repairs or replacement.

3.3 Fraud Protection

Credit card fraud protection is another crucial benefit provided by most credit cards. If your card is stolen or compromised, most credit card issuers will investigate the fraudulent charges and refund the money back to your account. This can provide peace of mind, especially if you're concerned about online shopping or traveling with your card.

Some credit cards also offer identity theft protection, which can help you monitor and protect your personal information. This perk can help you stay ahead of fraud and prevent identity theft from happening in the first place.

Taking Advantage of Lifestyle Perks

Credit card issuers often provide unique lifestyle perks to enhance your everyday experience. These perks may range from exclusive event access to personalized concierge services.

4.1 Concierge Services

Many high-end credit cards offer concierge services that can help you with a wide variety of tasks, from booking restaurant reservations to securing tickets for concerts or theater shows. These services are typically available 24/7 and can be incredibly useful if you need assistance with time-sensitive tasks or want to make your life a bit more luxurious.

For example, if you're attending a high-profile event, your card's concierge service might be able to get you VIP access or arrange transportation. Additionally, they can assist with travel arrangements, such as booking a last-minute hotel or flight.

4.2 Exclusive Event Access

Some credit cards offer access to exclusive events, such as concerts, sporting events, and private shows. This benefit is often available through partnerships with venues, performers, or event organizers. Cardholders may also receive presale tickets or invitations to private events that are not available to the general public.

If you enjoy attending events and want access to special experiences, this perk can be extremely valuable. Always check your credit card issuer's event schedule to see if there are any upcoming opportunities that you can take advantage of.

4.3 Discounts and Offers at Retailers

Many credit cards offer discounts or special deals at a variety of retailers, both online and in-store. These discounts can range from 5% to 30% off select products or services. Some credit cards partner with specific merchants, such as airlines, hotels, or restaurants, to provide exclusive savings for cardholders.

These discounts can add up over time, especially if you shop frequently with specific retailers. Be sure to check your card's website or app regularly to see if any new offers are available.

Health and Insurance Perks

Some credit cards also offer health-related benefits and insurance perks that can be valuable for maintaining your well-being and protecting your finances.

5.1 Health and Wellness Benefits

Certain credit cards provide access to health and wellness programs, such as discounts on gym memberships, fitness classes, or wellness products. These benefits can help you save money on maintaining a healthy lifestyle, making it easier for you to stay fit and healthy.

Additionally, some cards offer discounts or cashback on health-related purchases, such as prescription medications or vitamins.

5.2 Travel Health Insurance

For frequent travelers, some credit cards offer travel health insurance that covers medical expenses while you're abroad. This can be particularly useful if you're traveling to a country where healthcare costs are high or if you don't have coverage through your regular health insurance.

Travel health insurance can provide coverage for medical emergencies, hospitalization, and even medical evacuation, ensuring that you're protected if something goes wrong during your trip.

Conclusion

Credit cards are much more than just tools for earning rewards and cashback. By taking advantage of the full range of perks offered by your credit card, you can unlock significant value in your daily life, travel experiences, and financial security. From travel perks like airport lounge access and travel insurance to lifestyle benefits like concierge services and exclusive event access, credit card perks can enhance your overall quality of life.

To fully maximize the value of your credit card perks, it's important to familiarize yourself with all the benefits available to you. Whether you're looking for extra financial protection, special discounts, or premium travel services, your credit card can be a powerful tool to improve your lifestyle and save money. Take the time to explore the perks and make them work for you---your wallet and your well-being will thank you.

View Product