4 Hidden Ways Credit Cards Help You
May 7th, 2009 Filed under: Credit Card Tips — Credit Card Author |Credit cards not only provide credit when you need it, but also give you additional benefits. Some consumers are not even aware of all the benefits associated with a credit card. A credit card is not just a license to spend—it is a form of protection. Consider four other ways that a credit card can help you out.
1. A Credit Card-Sponsored Warranty
Retailers are not likely to be too generous with warranties; however, many major credit card programs offer extended warranties on all products purchased with their card. This service is not only limited to Gold or Silver programs, but also some standard plans. Credit companies may also issue refunds or make price adjustments for exchanges.
2. Return Guarantees
Credit card companies also offer return options for items that are unwanted after a short period of time. Usually major retailers will let you return an item with no questions asked; however, if you lose the receipt then any return agreement is voided. If you can prove to the credit card company that you purchased the item on a specific date, perhaps by using your credit card statement, then the credit card company will usually accept the return from you.
3. Coverage for Stolen Property and Wrongful Advertising
Most retailers will never give you the time of day if you claim that your merchandise was stolen on your time or if it was faulty in some way. However, thanks to the Fair Credit Billing Act, all consumers are given a certain amount of rights to dispute unauthorized credit card purchases as well as theft. Therefore, your credit card may be able to protect you against double billings, fake merchandise (that was said to be authentic) and stolen items.
4. Price Protection
Some credit card companies do the unthinkable and actually try to save you money, thanks to their price protection program. If you buy an item at one store and then discover that it is on sale or less expensive at a different store, then your credit card company may refund the difference. All you need is the receipt and proof of the price difference.
