Credit Card Benefits

You may have taken out your credit card for the introductory balance transfer rate, or an introductory rate on purchases. Alternatively you may have taken out your credit card for cash back or credit card reward points, but you may also be unaware of some of the other benefits that your credit card may automatically be providing you with.

Not all credit cards, whether Visa or Mastercard, provide all of the following benefits so you should read the small print of your credit card agreement to find out what benefits you are eligible for and any specific terms and conditions that apply.

1) Most credit cards will give you an interest free period of up to 56 days on any items you purchase using the credit card. The number of days will vary depending on the purchase date, your statement date and the date you must make a payment.

2) Most credit cards will give you a fraud guarantee which usually also covers usage on the internet, such that you will only be liable up to £50, if your credit card is used fraudulently.

3) Some credit cards provide travel accident insurance, medical and legal assistance abroad, when you book your travel using your credit card.

4) Some credit cards offer purchase protection, so your purchases made using the card are insured for damage or loss for a period of time.

5) Some credit cards offer a price match guarantee, offering you a refund of the difference if you find the same item cheaper within a certain timescale.

6) A few credit cards offer 12 month extended warranties on domestic electrical items bought with the credit card.

7) Most credit card companies will get a replacement card to you within 24 hours if your card is lost or stolen