Overview:

Credit cards offer various hidden financial perks, including extended warranties on certain purchases, cell phone insurance, travel insurance, and travel discounts and perks. Some credit cards offer rewards for streaming service purchases, and many hotels partner with credit card companies to offer loyalty rewards programs, including free night stays. Special event access or VIP experiences, discounts on subscriptions and services, and hotel loyalty rewards programs are also available.

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If you have a credit card, you undoubtedly enjoy earning those cashback rewards on groceries, gas, and everyday purchases. And there’s nothing better than racking up rewards points to earn free airline tickets, is there?

What if there is a bevy of hidden financial product perks you didn’t know existed? At the end of the day, who can resist freebies, benefits, discounts, and deals, right?

Let’s dive into some financial perks and protections you may not have heard about but just may want to take advantage of.

Extended Warranties on Certain Purchases

If you’ve ever bought a major home appliance, you’re familiar with the manufacturer’s warranty on parts. The appliance brand or retail store also likely offers customers an opportunity to purchase an extended warranty at the point of sale.

It turns out many credit card companies extend the manufacturer’s warranty for an extra 12 months on various products. Purchases that credit card companies offer extended warranties on include:

  • Televisions
  • Watches
  • Computers
  • Cell phones
  • Small appliances

Card companies offering these warranties include American Express, Citi, Bank of America, Barclay’s, and more. You can check your credit card website to learn more about warranty options.

Cell Phone Insurance for Loss or Damage

Many people pay their cell phone carrier a monthly device protection fee to cover a lost, damaged, or stolen phone. Some credit cards offer additional cell phone insurance.

The Wells Fargo Active Cash Card and Chase Freedom Flex Card are two examples. Wells Fargo offers an unlimited 2% cash back on all purchases, with zero annual fees and 0% APR on purchases for 12 months. The card also offers cell phone protection if you pay your monthly bill with the card.

Travel Insurance to Cover Unexpected Mishaps or Delays

Avid travelers typically use a major credit card to pay for airline tickets, rental cars, hotels, and travel excursions. Although you least expect it, some credit cards offer travel insurance that helps if you experience any kind of mishap during your trip. Benefits include:

  • Trip cancellation reimbursement for non-refundable prepaid travel arrangements for a covered reason that varies by card
  • Baggage delay reimbursement for items you might purchase if your bags don’t arrive at your destination when you do
  • Lost or damaged baggage compensation if a carrier loses or damages your baggage or items are stolen
  • Medical treatment, if you need it while traveling, for covered expenses up to a particular dollar amount
  • Rental car insurance to protect your rental car from theft or damage, which may work in conjunction with your auto insurance in some cases

Travel Discounts and Perks Linked to Membership Plans

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Many people dream of traveling when they retire. One popular membership offers multiple travel perks — AARP. AARP member travel benefits cover a gambit of savings on hotel costs, car rentals, tours and excursions, flight and vacation packages, cruises, and more.

Other memberships that offer travel benefits include USAA (United Services Automobile Association), Travel + Leisure GO, AAA Travel Packages, and Costco Travel, to name a few.

Hotel Loyalty Rewards Programs, Including Free Night Stays

Most major hotel chains offer loyalty rewards programs. When you enroll, you typically earn points for each stay that accumulate and allow you to earn free night stays, room upgrades, tour experiences, and more.

Many hotels partner with credit card companies, such as the Marriott Bonvoy Brilliant American Express Card, which offers 6x Marriott Bonvoy points at participating hotels. Marriott Bonvoy benefits include using points for spa treatments, golf, dining, hotel stays, VIP concert experiences, flight purchases, gift cards, and shopping.

Special Event Access or VIP Experiences

Whether you can’t wait to cheer on your favorite sports team or you’re feverishly waiting in an online members-only presale to score tickets to your favorite artist’s world tour, certain banks and credit card companies — like Capital One Entertainment, American Express AMEX Experiences, and the Wells Fargo Attune World Elite Mastercard — offer members special event access, discounts, VIP experiences and upgrades, and entertainment rewards.

The Wells Fargo Attune cashback categories are unique, offering unlimited 4% cash rewards on purchases from artist supply and craft shops, hobby, toy, and game shops, as well as sports and live entertainment tickets, streaming services, music, movies, and books. How fun is that?

Discounts on Subscriptions and Services

From TV shows to movies to concert specials and sporting events, people enjoy all kinds of viewing entertainment on streaming services — and you’re not alone if you subscribe to multiple platforms.

You may not realize that some credit cards offer rewards for streaming service purchases. For example, the American Express Blue Cash Preferred Card offers a whopping 6% cash back on select streaming subscriptions. A featured offer is a $7 monthly statement credit when you use the card to pay for a Disney Bundle subscription.

As you can see, gaining these hidden financial perks is worth reading the fine print or deals on your bank or credit card’s website. Scoring deals on purchases, travel, and things you enjoy doing most are just a Google search away.