But a recent report from Market Strategies found that 8 out of 10 cardholders aren’t aware of all of their card benefits.
If you’ve never read through the fine print that came with your card, you might miss out on these great hidden credit card features.
1. Price protection
If you buy something with your credit card and then the price drops, the card company may reimburse you the difference.
For example, Citi's Price Rewind will give you up to $200 back on any purchase if a lower price is found within 60 days. You can receive a total of up to $1,000 in refunds over the course of a year.
But be sure to take advantage while you still can. Other card issuers, including Chase and Discover, recently ended their price protection benefit, and Citi Price Rewind isn't as generous as it used to be.
2. Return protection
If you’ve tried to return an item but the store won’t take it back, your credit card may give you the refund. American Express, Citi and other issuers offer this sweet perk on some cards.
You’ll need to provide your store receipt, proof of the credit card transaction, and maybe a copy of the retailer's return policy. In some cases, you may be asked to ship the item in question to your credit card company.
Terms vary, but this service is usually valid within two to three months of the original purchase, and there may be annual and per-item limits on refunds.
Note that this is another benefit that's going bye-bye. Several card issuers have eliminated return protection.