Credit cards are not only a convenient way to pay for things when you are short on cash, but also a payment option that can help you get more out of everything you buy.
While most credit cards advertize their low interest rate introductory periods or rewards programs, there are actually a lot of other features that can be part of the deal. And often people don’t even realize they have access to them.
From getting your money back on suspicious purchases to paying no interest at all, here are three of the best credit card features most people never know they have.
Chargebacks
A chargeback reverses the charges on your credit card so that the money goes back into your account. It is particularly useful when dealing with hard-to-contact merchants or processing errors (such as being charged twice).
If you bought something online, for example, if never had it show up, requesting a chargeback would reverse the purchase so that you are not out of pocket.
Price Matching
Have you ever bought something only to find it on sale a week later? It’s a frustrating thing to have happen, but credit cards with price matching can actually make it work in your favor.
Price matching, also known as a “best price guarantee”, lets you claim the difference in costs on anything you have bought on card and then see for a better price. This feature is particularly common on gold and platinum credit cards and, with most allowing claims up to four weeks after a purchase, they can give you better value for your money.
Flight Inconvenience Insurance
A lot of people look for credit cards with international travel insurance, but very few think about insurance for domestic flights. While buying domestic insurance outright might not seem worth it, there is no doubt financial compensation would be nice if you end up stranded at an airport, miss your appointments or have to completely change.
That’s where credit cards could help, with many different cards offering flight inconvenience insurance when you have paid for a trip on your card. So rather than taking up an airline on the offer for insurance (at an extra cost), you can simply pay by card to get the extra peace of mind.
Credit cards come with all kinds of perks and privileges, but not all of them are advertized equally. So by being aware of these different features and reading up on the product information available for your cards, you can get even more out of paying with plastic.
