Learn to use your credit cards and be smart with your finances!
If you’re already a credit card holder, you may not be aware of the financial arsenal at your disposal. There are plenty of features of which you might not be aware, and if you don’t know they’re there, you might lose out.
One that travel card members often lose out on is in car rental. You turn up at an airport, hire yourself a car and drive it away, but you’ve already lost money. Why’s that? Because you’ve gone and paid for extra insurance and damage waivers.
Check out the offers you’ve got from your travel credit card, and you’ll probably find free insurance and damage waivers thrown in, globally. If you didn’t know you had it, you would have ended up paying twice and being none the wiser that you’ve wasted your own money.
It’s a simple one to miss, and could happen to anybody. I was driving around for months paying for separate breakdown cover on my car, completely oblivious to the fact that I was covered – for free – on my bank account. At least I knew about the free cover for my cellphone, and even remembered to update the details when I switched to the latest iPhone.
The lesson here is to be smart and always be aware of the benefits you get – and pay for – with your card membership. There are so many to forget in the crowded premium credit card market that you could quite easily be missing out. Offers are being added all the time, so the smart card holder will take a look at the bank’s website every now and then to see if there’s anything new added.
In researching this item, we’ve found other “smart way to use your cards” items that advocate using your card as a cheap and convenient way of borrowing money. Now, excuse us. Yes, that’s convenient, but it’s not cheap. Running up credit card debt is not smart, no matter what you use it for, and we do not approve of this approach.
On the other hand, we do approve of the smart user being aware of the extra rights and benefits they get from using their card for shopping. You get an extra layer of protection from your bank if the product or service you buy is faulty, and your card issuer is always there to fight your corner if you get into a dispute with a vendor. That’s smart shopping, and a smart way to use your card.
Article by Jason Taylor – [email protected]