Q: My credit card gives me cash-back benefits. My wife uses a credit card that issues air travel miles. Are any other card benefits available that we should know about?- David Deals
Dear Mr. Deals: Surprisingly, "hidden" credit card benefits are more available than consumers think. In fact, until my research for your question, I hadn't a clue as to what's really offered. Consumer Reports says we should choose a credit card with a low interest rate and with low to no fees, but it's also important to explore the fringe benefits in the fine print.
Ellen PhillipsBaggage-delay insurance, through Chase's Sapphire Preferred card, covers purchases of up to $100 daily for five days for items like new clothes and toiletries. Boy, does this come in handy when your family arrives at your long-awaited Paris vacation spot but the luggage doesn't.
Missed-connection insurance helps immensely if you are stranded and no suitable flight is at hand. While camping out on a row of chairs may be okay for younger travelers, us oldsters need a real bed for which the airline might not be willing to pay. If you bought your ticket with a variety of credit cards, including the Chase Sapphire or the Hyatt Visa, feel free to book a room on your own, knowing the issuer will pay the bill. This kind of insurance also allows a taxi ride to the hotel, meals and even buy toiletries.
Price-drop protection helps keep your frustrations below the boiling point when a purchased item then goes on sale at a later date. This protection program refunds some or all of the difference in price. The amount of protection does vary, however, and doesn't apply to all products. For example, if you used a Discover card, the difference in price can't exceed more than $500, and the yearly refund limit is $2,500. Check out policies for Barclaycard, Chase, Citi, Discover and MasterCard.
Cell-phone replacement insurance is one I've availed myself of on several occasions. Many consumers have no clue that a lost or damaged cell phone can be replaced by specific credit cards. (The card must be on file to pay the monthly cell phone bill.) If anyone uses a Wells Fargo credit card, you'll be pleased to know it gives up to $600 worth of protection.
A return-extension benefit is a marvelous feature for items you no longer want, but retailers refuse to accept back. American Express and Discover cards prolong the time constraints placed by merchants. AMEX, for example, normally lengthens the time of return to 90 days from date of purchase for items worth up to $300. Additionally, a buyer can return a maximum of $1,000 worth of goods per year. Just be certain to keep all receipts. (Note: The policy doesn't apply to certain kinds of products, such as computer software, so do your research before marching back to the store or post office.)
Extended warranties, a controversial topic I've detailed before, become a freebie when using credit cards from most major credit card companies, and you can't beat "free" with a stick. The caveat, though, before any of these companies stick out their own necks is that the product must come with a manufacturer's warranty to begin with.
Contact Ellen Phillips at consumerwatch@timesfreepress.com