The Hidden Benefits of Your Credit Card

Your credit card is good for more than just buying gas and groceries. Credit cards can offer a variety of benefits that aren’t available from debit cards, including certain protections. Here’s a short list and a description of some of these benefits*:

Benefit: Return protection
●    How it works: You get a refund for items you don’t want, but can’t return. 
●    When you need it: A manufacturer refuses to take back something you purchased. 

Benefit: Extended warranty coverage
●    How it works: Add extra time to warranty policies of products purchased with your card, and at no extra cost. 
●    When you need it: Your smart vacuum stops working one day after the warranty expires. 

Benefit: Identity theft protection
●    How it works: You generally won’t be held responsible for charges you didn’t make. 
●    When you need it: A thief steals your credit card number and goes on a spending spree.

Benefit: Cash-back rewards
●    How it works: You earn cash every time you use your card. 
●    When you need it: When don’t you need cash back?

Benefit: Points and miles
●    How it works: You earn points toward airfare, hotel stays and retail purchases when you spend.
●    When you need it: You’re planning a big vacation or just want to get a little bonus for your spending habits.

Benefit: Travel assistance
●    How it works: You’ll get help with trip planning, or coordinating financial, legal and medical needs while you’re abroad. 
●    When you need it: In the event of lost luggage, misplaced passports and medical emergencies overseas.

Benefit: Trip insurance
●    How it works: You’ll receive reimbursement for trips that are canceled or interrupted, in certain circumstances. 
●    When you need it: Severe weather or family illness foil your vacation plans. 

Benefit: Car rental insurance 
●    How it works: You’ll automatically be covered if you pay for your rental car using your credit card. 
●    When you need it: Your auto insurance doesn’t apply, or the rental car company’s policies are pricey. 

*Note: Not all credit cards provide every benefit listed, and some protections may come with additional fees.

Emily Long is a freelance writer and editor based in Salt Lake City. Her work has appeared on NBC News, Lifehacker and Wirecutter.

Are you getting the most out of your credit card? Find out.