Hidden Credit Card Perks You’re Probably Not Using
Most credit card users focus on cashback, reward points, and milestone benefits, but what if we told you there’s more? Credit cards are packed with hidden perks that go unnoticed—benefits that can save you money, enhance your lifestyle, and even provide financial protection.
While banks actively promote basic rewards and welcome benefits, many valuable perks remain buried in the fine print. From purchase protection to complimentary travel insurance, these features can add significant value—if you know where to look.
Let’s explore the underrated credit card perks you might be missing out on and how to make the most of them.
1. Purchase Protection & Extended Warranty
Your credit card could double as an insurance policy for your expensive purchases. Many premium cards automatically extend the manufacturer’s warranty by 1-2 years when you use the card for the purchase.
For example, if your laptop’s original warranty is 12 months, your card might cover repairs or replacements for up to 24 months. Additionally, purchase protection reimburses you for items that are stolen, lost, or accidentally damaged within 90-120 days of purchase. This is especially useful for electronics, jewelry, and other high-value goods.
How to Use It:
- Check if your card includes extended warranty and purchase protection.
- Retain your purchase receipt and statement for easy claims.
2. Price Protection: Refunds for Price Drops
Some credit cards offer price protection, meaning if you buy a product and its price drops within a set timeframe (usually 60-90 days), you can claim a refund for the difference.
For example, if you purchase a television for ₹1,00,000 and its price drops to ₹90,000 a month later, you could get ₹10,000 back. While fewer banks offer this benefit today, it’s worth checking your card’s terms. Cards like American Express Platinum, AU Bank, and Axis Burgundy have historically provided this feature.
How to Use It:
- Keep track of price drops for major purchases.
- Submit a claim with proof of the lower price and your purchase receipt.
3. Travel Insurance & Emergency Assistance
Premium travel credit cards often provide complimentary travel insurance that covers:
- Trip cancellations due to illness or severe weather.
- Flight delays and lost baggage compensation.
- Emergency medical expenses while traveling.
Additionally, some cards offer 24/7 global concierge services to help with hotel bookings, event tickets, and restaurant reservations—even in emergencies abroad.
How to Use It:
- Book flights and hotels with your credit card to activate coverage.
- Review your card’s travel insurance terms before booking trips.
4. Device Protection Plan: Insurance for Your Gadgets
Certain credit cards offer device protection plans when you pay your monthly bill with that card. This can cover accidental damage or theft of mobile phones, tablets, or laptops.
In India, some AU Bank credit cards include device insurance as part of their benefits.
How to Use It:
- Pay your device bill using your eligible credit card.
- Keep your receipts and statements handy in case you need to file a claim.
5. Complimentary Memberships & Discounts
Many premium credit cards provide free access to:
- Airport Lounges (Priority Pass, Dreamfolks, LoungeKey)
- Streaming Services (Netflix, Spotify, Amazon Prime)
- Fitness Memberships (FitPass, Cult.fit)
Additionally, some cards offer exclusive discounts on dining, shopping, and entertainment. These perks can provide significant savings when utilized effectively.
How to Use It:
- Check your card’s partnerships and enroll in eligible memberships.
- Activate and redeem offers before they expire.
6. No Foreign Transaction Fees: Save on International Spending
While most credit cards charge 3.5% foreign exchange fees, travel-friendly cards waive this fee, making them an excellent option for international travelers.
Some Indian credit cards offering zero forex markup or reduced charges include:
How to Use It:
- Use a zero-forex credit card when traveling or making international payments.
- Avoid using debit cards for foreign transactions, as they typically have higher fees.
7. Zero Liability Protection: Fraud Safety Net
Credit cards come with zero liability protection, which means you won’t be held responsible for fraudulent transactions if you report them promptly. This is especially crucial for online transactions and card skimming cases.
How to Use It:
- Immediately report any unauthorized transactions to your bank.
- Regularly monitor your statement for suspicious activity.
Maximize Your Credit Card’s Full Potential
Most people never fully explore the benefits their credit card offers. A few minutes of research can unlock significant savings, better protection, and exclusive perks that go beyond just rewards and cashback.
Steps to Unlock Hidden Perks:
- Check your card’s benefits guide (usually available on the bank’s website).
- Activate any hidden perks like travel insurance, lounge access, or purchase protection.
- Use your card strategically to maximize these benefits.
Final Thought:
Your credit card is more than just a payment tool—it’s a financial powerhouse packed with perks. The more you know, the more you save!
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