Using Credit Card For Holiday Gifts Can Be Good Thing
PHILADELPHIA (CBS) -- Using your credit cards to buy holiday gifts may actually be a benefit.
Your credit card may offer perks that you don't know you have, such reimbursing you for lost, stolen or damaged items or refunding the difference when the price of the item you bought goes lower. But one of the most common is extending manufacture's warranties for free.
That's important because there's so many times when we're making a major purchase and somebody asks you if you want to get that extended warranty," said Matt Schulz, senior industry analyst at creditcards.com, "and now a lot of people can say 'no thanks, my credit card will have me covered.'"
You can find out what your credit card offers by calling the 800-number on the card or reading the fine print.
"It's just an incredibly competitive time in the credit card market place," Schulz said, "and what ever these credit card companies can do to make themselves stand out and to attract new customers and keep current ones they're generally going to do."