Some Good Reasons to Use Your Credit Cards

There are a great many Americans that are avoiding using credit cards these days for a myriad of reasons. Perhaps some may want to rethink that however. There are undeniable benefits to using a credit card. Benefits that simply cannot be found anywhere else.

By using an American Express MasterCard or Visa, consumers available themselves to built in features and benefits that are designed to offer protection on the purchases that they make. Let’s take a closer look at those protections.

Price Protection

A favorite marketing tactic of more than a few retailers is price protection. You will hear them crow about how if you buy something from them and find it at a lower price from one of their competitors that they will refund the difference or even give back a greater amount.

Well, with the vast majority of credit cards you will automatically receive this benefit as long as you notify the credit card company within 60 days of the purchase date. Online purchases, however, may or may not be covered.

Return Protection

If a retailer will not take the merchandise that you purchased back when you attempt to return it your credit card company can take care of that for you. American Express offers a program that will accept returns on purchases up to $300, while MasterCard and Visa will honor returns up to $250.

Extended Warranty

Retailers love to try to sell their customers extended warranties, especially on electronics. Most consumer advocates including Consumer Reports say that this is an absolute waste of money. It definitely is if you use your credit card.

Many credit cards will not only cover the manufacturer’s warranty for up to one year but will also double it on purchases that do not exceed $10,000. The only stipulation being that the manufacturer’s warranty is for five years or less.

Purchase Protection

Purchase protection covers the consumer if their item is damaged, stolen, lost or vandalized. The card issuer will arrange for the item to be repaired, replaced or the purchase price refunded.

Depending upon the card, the merchandise will be covered for up to 90 days with a limit of $1000-$10,000 per occurrence.

To know exactly what you’re protections and benefits are consult with your credit card issuer by either visiting their website, reading the material that was sent to you when your card was issued, or by calling them on the phone and speaking to a representative.

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