11 hidden credit card perks

Your card's terms and agreements aren't always out to get you. In fact, they may contain hidden perks that can save you time and money.

 of 13
 of 13

VIDEO ON MSN MONEY

81Comments
May 21, 2013 9:22PM
avatar
The Credit Card company is NOT your friend.


May 27, 2013 1:24PM
avatar
Just do not build a huge balance on a credit card and pay it off immediately. It is that simple.
May 22, 2013 10:02AM
avatar
Sheesh, with all the fine print, none of these so called "perks" are worth the effort.
Jun 25, 2013 4:47AM
avatar
I use my credit card just so I do not have to carry cash, I pay in full every month and I get cash back bonus. also I had an issue with an online purchase, who here can pay cash online???? pay pal can take it out of your  bank acct if you want that's the only way,  I called them(discover) fixed immediately,' no problem  at all we will take care of it don't worry' they said and they were very nice, they even called me a couple times  when they noticed an unusual purchases once when I went to a restaurant and one dollar was charged( they said a lot of crooks do that to test to see if it goes unnoticed), and another time when over 1000 dollars was charged they closed the acct down  immediately , yes I did have to wait a few days for a new card to come in the mail
May 22, 2013 10:03AM
avatar
How are these "hidden perks"?  Fairly common.
May 29, 2013 5:13PM
avatar

 

...credit is slavery...bide your time...save your money and pay cash for everything...

 

.......we have been brainwashed into believing the "ME, MORE, NOW Society values, are in our best interest - these values are not in the best interests of the human species. 

Jun 25, 2013 1:00PM
avatar

If you lack self control and willpower, don't use credit cards.  I learned about credit cards and interest at an early age when I snooped and looked at my parents' bills. They would make minimum payments and then they would consolidate everything with HFC but also continue to use their credit cards resulting in even more bills to pay and more money owed...interest charges at the time were astounding and the minimum payment owed didn't even cover the interest. This was before some of the changes. This was an eye opener for me at an early age.

 

One big tip is to live below your means: just because you think you can swing it, doesn't mean you have to buy it.  Do you need it? Do you have room for it?  Can you really afford it (if you had to use cash to buy it, could  you still manage to pay for your necessary living expenses?) If the answer to any one of these is " no", you're best off just walking away.

 

On the other hand, if you are able to manage (don't kid yourself here...I know people who would want others to think they can...be honest with yourself), you can make credit cards work for you via mileage, cash back rebate cards, etc. We pay off our balances every month and as a result do not pay interest. I haven't had to pay for my Costco membership ever since I got their Executive Amex with no annual fee. Not only do you get cash back from Costco, you get cash back from Amex. When I first got it, I was unsure if I'd charge enough to make it worthwhile but figured even if I got back enough to cover half of the Executive fee, it wouldn't cost any more than the regular membership. Their Amex also adds on to manufacturer warranties for items purchased. I have had to use this once, and it was worthwhile when the DVD on a fairly new desktop went out.

May 22, 2013 10:18AM
avatar
rental car collision insurance provided by your credit card is a joke.  They will ask you for a police report (which you will only have if it was major damage), and is secondary to any collision coverage you have on your own personal vehicles.  If you had a minor mishap in a parking lot, or were involved in a hit and run, you are probably out of luck...
Jun 25, 2013 10:52AM
avatar
And we worry about the government running an account of our phone calls. The credit card business has been tracking your lifestyle for years and no TV cable news debate is taking place. Fickle citizens.
Jun 25, 2013 10:21PM
avatar

Be aware, 68% of the Banks profits are from customers' "mistakes"  hidden fees and assorted hidden charges. Do not trust them, double check your accounts at least once every day!...

Jun 25, 2013 9:38AM
avatar

they are there to make money,dont blame the cards for YOUR mistakes,i have stack of them,some for fifteen years or more,had a problem once,it was not the cards fault,just me,i still use them,

Jun 25, 2013 1:21PM
avatar
Really?  Does that stupid Discover ad pop up with every click on the slide show?  I don't know because I gave up after 4 photos.  How annoying!!!
Jun 25, 2013 7:30PM
avatar

One way you can make a credit card "work for you"...Every now and then...a card company will offer a deal where you can transfer  balances from a 'high interest' card and pay 0% interest for 12 months.

I transferred the balance of my auto loan at my credit union to a card and paid every cent I could spare to get the balance lower. (The whole payment goes to reduce the principal ) When that year was running out, I did the same deal with the remaining balance onto a different card and I will have my car paid off in just three more months!!! Three years to be car payment free instead of six. I figure I have saved several thousand $$$ in interest charges.   

Jun 26, 2013 8:06AM
avatar
"bennies"?  Really?  They couldn't spell out "benefits"?
May 29, 2013 7:50PM
avatar
Traveling around the world or just out of the county. Your card of choice should probably be American Express. My favorite. It has a whole list of benefits that are in writing. 
Jun 26, 2013 3:07AM
avatar
I don't believe in home equity loans.  You are barrowing against your house.  Ours was completely paid off last year around this time.  You want to know who I barrow from?  Me!  I don't charge myself any interest either.  Think about it!
Jun 26, 2013 1:08AM
avatar
i have a visa through a major auto club that offers 5% back on gas purchases every month...we pay our card off every month ..so no interest..and no charge for the cards.   we get $8 to $10. every month back on our purchase of gas...we are ruining the economy by paying our card off every month and we save over $100.  a year on our gas purchases ...works for us...
Jun 26, 2013 10:27AM
avatar

I asked American Express to let my daughter in the VA Tech Marching Band charge a meal in Miami  at the Orange Bowl. They agreed. When my daughter  attempted to charge a meal, American Express reneged. So I cancelled my accounts' with  them.. American Express can go bankrupt for all I care.

May 22, 2013 8:08AM
avatar

I charge it, I try and pay it thus far. Other than that I have saved a ton of money on rental car insurance.  That value benefit alone wipes out whatever interest I've paid over the decades... I'm not mad at VISA or MASTERCARD. Oh, CAPITAL OneBank, them too, and  Wells Fargo has been alright.

 

However, if you follow the rules, they can be your friend, too.

Jun 26, 2013 10:11AM
avatar
I can tell you that American Express is the best Credit Card on the planet, they represent the card holder and will back you 100%.  I've had an AMEX for 20 years and its the ONLY card I use!!  GO AMEX!!!!
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

SMART SPENDING