Credit Card Perks Can Save You Cash
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MIAMI (CBSMiami) — Most credit cards come with perks like prize points or frequent flyer miles, but did you know your credit or debit card may offer benefits that could save you hundreds, even thousands of dollars?
Savvy shopper Kimberly Rose always scours the fine print of credit cards to make sure she only applies for the ones that offer her money-saving benefits.
"Over the years I've saved thousands of dollars, by using the credit card benefits," said Rose.
One such occasion was when her phone broke after the manufacturers' 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 the card in their wallet or in their digital wallet hold," said Diana Robino with MasterCard.
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.
Also, 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 Robino.
In addition to the perks that pay, there are convenience benefits too. Some cards will help you replace a passport or find an English-speaking doctor in a foreign country. Some also come with concierge services to help make dinner reservations, find concert tickets and even locate hard to find gift items.
Experts caution that it's important to read all that fine print to find out which perks apply to the specific card you have and, of course, you still need to watch for things like interest rates when you swipe.
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