The Best Credit Card Perks You’re Probably Not Using
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Written by
Joseph Hostetler
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Edited by
Jasmin Baron
How did you choose the perfect credit card for your lifestyle? Did you look for the card with the highest rewards rate for your common purchases? Did you reach for the fattest welcome bonus? Did you choose a card with a generous 0% intro APR offer?
No matter your motivation, your card almost certainly has a fistful of credit card perks that you don’t know about — or at least aren’t using effectively. Let’s take a look at some unique credit card benefits that are often ignored.
Quick Overview
What if your credit card:
- Saved a table for you at an impossible-to-book restaurant — just in case you wanted to make a last-minute reservation?
- Reimbursed you for an item that you decide you didn’t want anymore, even though the store refused to take it back?
- Covered a hotel room and meals when your flight was delayed?
That’d be pretty impressive.
In fact, buried in the fine print of your card’s guide to benefits are valuable credit card perks like these that often gather dust. And in most cases, you’ll get these benefits simply by using your card for your eligible purchase.
Travel-Related Perks
Trip Cancellation and Interruption Insurance
Your travel may be cut short or canceled due to reasons like inclement weather, bodily injury, a death in the family or a change in military orders. In this case, you may get hundreds of dollars in reimbursement for prepaid, non-refundable travel, which could include airfare, rental cars, lodging and cruises depending on the card.
For example, if you paid for your travel with the Chase Sapphire Preferred® Card, you can get up to $10,000 per covered traveler (maximum $20,000 per trip) if you need to cancel or interrupt your trip for a covered reason. And with the Capital One Venture X Rewards Credit Card*, you could be reimbursed up to $2,000 per covered traveler.
Trip Delay Insurance
If your flight is significantly delayed, or if a delay causes you to unexpectedly stay overnight, your credit card may reimburse you for reasonable expenses like accommodation and meals.
Imagine this: Your flight is delayed, causing you to miss your connection in an unfamiliar city, and you’re stuck overnight. If you paid for your airfare with the Chase Sapphire Reserve® card, you could get up to $500 per covered traveler reimbursed for a hotel room and dinner (this also applies to delays of more than six hours). Or trip delay coverage from The Platinum Card® from American Express** (a CardCritics™ advertiser) can cover you for similar expenses up to $500 per covered trip after six hours of delay.
Lost or Delayed Baggage Reimbursement
You’re not completely out of luck if your checked bag doesn’t file onto the luggage carousel at your destination. Most travel credit cards offer some sort of compensation — depending on how long you’ve got to wait. And if your bags are lost for good, you could be covered for replacement and repair.
The Chase Sapphire Reserve and Chase Sapphire Preferred Card have similar coverage in this regard, even though the Sapphire Preferred Card’s annual fee ($95) is much lower than that of the Sapphire Reserve card ($795). With either card, you can get up to $100 per day for up to five days in reimbursement toward essential purchases like fresh clothing, device chargers and toiletries. For bags that vanish forever or are damaged, you could get up to $3,000 per covered traveler.
Airport Lounge Access
Airport lounges are comfortable retreats removed from the noisy concourse. With a credit card that offers lounge access, you can enter these exclusive spaces for free.
Amex Platinum, for instance, gets you entry to more than 1,400 airport lounges in 140 countries (including Amex Centurion Lounges, Delta Sky Clubs with an eligible Delta boarding pass, Priority Pass Select and, Plaza Premium lounges). Similarly, the Venture X unlocks access to more than 1,300 Priority Pass and Capital One Lounges, after enrollment.
Auto Rental Collision Damage Waiver
Rental car insurance offered by the rental agency can easily cost more than $15 per day. By paying for your rental with specific credit cards and declining the agency’s collision damage waiver, you can get similar coverage for no extra charge.
For example, the Sapphire Preferred Card comes with primary rental car insurance, which means it pays out without you having to file a claim with your personal policy first. If your rental car is damaged or stolen, it covers up to $60,000 for vehicles with an MSRP of $125,000 or less.
Purchase Protection and Shopping Perks
Extended Warranty
You know how things seem to break just after the manufacturer’s warranty expires? Your credit card may extend that warranty by a year or more. The American Express® Gold Card*** is a great example — it offers up to one additional year on eligible warranties of five years or less (up to $10,000 per covered purchase, max $50,000 per calendar year).
Purchase Protection
By using the right credit card to make your purchase, you’ll automatically receive months of coverage against theft or damage to your eligible items. Premium cards like the Capital One Venture X Rewards Credit Card* offer this coverage, but some no-annual-fee cards, like the Chase Freedom Unlimited® card, also have purchase protection built in.
Return Protection
When a merchant refuses to accept a return you’re trying to make, there’s a chance you can still be reimbursed. Some credit cards will refund you for an eligible item (as long as you’re still within a few months of the purchase date). For instance, the Blue Cash Preferred® Card from American Express**** covers you for up to $300 per item (maximum $1,000 per year) for the first 90 days from purchase date.
Exclusive Discounts
Earning bonus rewards for your purchases is great — but some cards require some form of enrollment. If you forget to do this, you’re lighting money on fire.
The Bank of America® Customized Cash Rewards credit card, for instance, offers 6% cash back in an eligible category you choose each month for the first year, after that you’ll earn 3% cash back in the category of your choice. Plus automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. Cardholders can also access extra cash back and other promotions through Bank AmeriDeals after activating.
Everyday Money-Saving Perks
Cell Phone Protection
Cell phone insurance can cost over $10 per month, depending on the model of your phone. Just by paying your monthly bill with the right credit card, you can get several hundred dollars in coverage — often with a perfectly reasonable deductible.
For example, as long as you pay your monthly wireless bill with the Wells Fargo Active Cash® Card, you’ll receive up to $600 in protection with a $25 deductible (maximum two claims per 12-month period). The Active Cash Card comes with other solid benefits, too, making it a great value for a card with no annual fee.
Dining and Entertainment Perks
If you find yourself struggling to get a reservation at popular restaurants or for high-demand events, your credit card may be able to help. Some offer presale privileges to concerts and sporting events — and even hold tables at certain restaurants specifically for cardholders.
Capital One credit cards such as the Capital One Venture Rewards Credit Card are a good example. Cardholders can access exclusive dining events and hard-to-get reservations through the Capital One Dining platform, or VIP packages and event tickets through Capital One Entertainment.
Statement Credits
Many credit cards have peripheral benefits that renew each month or year which can save you money on purchases you planned to make, anyway. Banks add and remove new credits all the time, so it’s worth keeping abreast of your card’s ever-changing guide to benefits.
The Amex Gold is one such card, offering (after enrollment) perks like up to $84 per year in Dunkin’ credit, up to $100 per year in Resy credit, up to $120 per year in dining credit and up to $120 per year in Uber Cash.
Lesser-Known Security and Convenience Perks
Virtual Card Numbers
To help make your purchases more secure, some cards, like the Citi Double Cash® Card, (a CardCritics™ advertiser) give you the ability to create virtual account numbers to disguise your payment information from merchants and payment terminals. You can use them for online purchases, or you can add them to a virtual wallet.
No Foreign Transaction Fees
Many credit cards charge a fee (typically up to 3%) when you make a purchase that is processed outside of the U.S. That’ll add up quickly during your international travels — so it’s important to pack a card that doesn’t add foreign transaction fees, like the Sapphire Preferred Card.
Free FICO® Credit Score Monitoring
Instead of paying a monthly or quarterly fee to keep an eye on your credit score, many credit cards, like the Discover it® Cash Back card, offer an updated score for free. Just note that you may have to enroll.
How To Check and Maximize Your Card Perks
Again, credit card issuers tweak benefits often. Unless you’re an avid reader of press releases, you may understandably miss some changes. Every so often, it’s worth scrolling through your issuer’s mobile app or jumping online to view an updated version of your card’s benefits guide. You can also search CardCritics™ for your specific credit card — we’ll keep you updated.
If you find that your card’s little-known perks don’t really align with your lifestyle, you can consider upgrading or switching to a card that does.
Conclusion
Your credit card’s benefits can save you a lot of time, money and headache. They can even unlock experiences that you wouldn’t otherwise have access to.
Stay on top of your credit card’s benefits guide to make sure you’re squeezing every bit of value from your card.
*For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
**For the trip delay insurance benefit of The Platinum Card® from American Express, up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
***For the extended warranty insurance benefit of the American Express® Gold Card, when an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
****For the return protection insurance benefit of the Blue Cash Preferred® Card from American Express With Return Protection, you may return eligible purchases to American Express if the seller won’t take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.
The information related to the Chase Sapphire Reserve® was collected by CardCritics™ and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardCritics™ does not receive a commission for this product.
Frequently Asked Questions
How do I look up credit card benefits?
You can usually find your credit card’s guide to benefits by heading to your card issuer’s website. You can also call the number on the back of your card if you’ve got any questions about your benefits.
What credit card has the best perks?
No credit card objectively has the best perks. The best perks are the ones you’ll personally use. That said, the Amex Platinum offers well over $1,000 in annual value thanks to its myriad statement credits, free memberships, elite statuses and more. If you can organically use these benefits, it’s a contender for the card with the best perks. Enrollment may be required.
What are some good credit cards with travel perks?
Many of the best travel credit cards come with lucrative perks that can make your travels more comfortable and protect you if plans go sideways while on a trip. Premium cards such as the Venture X, Sapphire Reserve and Amex Platinum offer the most robust benefits. But you can get decent travel perks from less-expensive cards like the Sapphire Preferred Card or Venture Card as well.
Are credit card perks automatic?
While credit cards have built-in benefits, you’ll usually have to take some action for them to kick in, such as using your card to buy travel to activate trip delay or lost luggage coverage. In some cases, you’ll need to enroll separately for certain benefits (like statement credits) as well.
