The Benefits of Using Credit Cards
Credit cards have gotten a lot of heat over the past few months for a number of reasons. But with that said, the undeniable truth is that they do provide consumers with benefits that can be found nowhere else.
Quite a few people don’t even realize that by using their American Express, MasterCard or Visa that they automatically have consumer protections built into their credit card.
Let us explore the common benefits associated with using your AMEX, Visa or MasterCard:
Extended Warranty
It is quite common that by using your credit card, the warranty on the product you purchase is actually doubled that of what the manufacturer offers on purchases up to $10,000 as long as the product’s warranty period does not exceed five years.
Now that you know about that you can forget about those expensive extended warranties that the stores try to sell you. Those never were a good deal to begin with according to Consumer Reports.
Purchase Protection
If you buy something that is stolen, damaged by accident, vandalized or lost, your card issuer may pay for that product to be replaced. Depending upon what card you have your merchandise can be covered for up to 90 days.
Price Protection
This is a favorite marketing tactic for many retailers and may very well be already included as a feature of your credit card. Finding the same product at a lower price than what you paid for it within 60 days of your purchasing it may qualify for you to receive a refund for the difference.
Return Protection
This one may be the most important of them all. More and more retailers are imposing restrictions on refunds and returns. If you are unhappy with an item but the retailer refuses to refund your money your credit card company can help you.
With American Express they will cover all merchandise up to $300. MasterCard and Visa will take returns on products that cost $250 or less.
To know what benefits you are entitled to you can either read over the material that came with your card, look over the credit card company’s website, or simply call your credit card issuer and ask.
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