Experts tell Moneyish about some of the hidden bonuses you get just by carrying a Chase, MasterCard, AmEx, or Discover card
These credit-worthy perks may pique your interest.
This week, Bank of America refreshed its longstanding “Museums on Us” program, which gives Bank of America and Merrill Lynch cardholders free admission to more than 200 cultural institutions across the US during the first full weekend of each month. This includes admission to the Museum of Fine Arts in Boston (typically $25 for adults to get in), the Los Angeles County Museum of Art ($25 per adult), and the National Constitution Center in Philadelphia ($10 per adult).
And this is just one example a little-known perk that could save you big bucks.”Most credit cards have perks that people don’t even know about that can save them a lot of money and a lot of headaches,” says Matt Schulz, the senior industry analyst at CreditCards.com. To find out what perks your card might have, Schulz says you can just go to the card’s website or call the 800 number on the back of your card.
Here are a few perks of the most noteworthy credit card perks that many don’t even know they have.
Cell phone protection: Both Chase and Wells Fargo offer cardholders $600 worth of cell phone damage protection, which you’re automatically eligible to receive if you pay your cell phone bill with one of their respective cards. This perk doesn’t extend to disappearing phones — so you won’t be able to cash it if you simply misplaced your mobile device.
Price rewind: Card issuers such as Discover; Chase, Citi, and Discover offer something called “price rewind:” If you buy something with their card and the price drops within a certain period of time — typically 30 to 90 days — the card will issue you the difference in price, says Brayden McCarthy, Vice President of Strategy at loan comparison site Fundera.
Unique experiences: Some cardholders get VIP access to events that the general public can only dream about. At the 2017 Super Bowl, Visa NFL Extra Points cardholders had the option to cash in their points in exchange for upper-, mid-, or premium-level tickets at the big game — saving them as much as $4,900 on tickets, according to CreditCards.com.
And with the Chase Sapphire Preferred card, you can cut the red ropes and get right onto the red carpet at the Emmy Awards. As part of its Ultimate Rewards program, the card offers clients the chance to purchase tickets to the prestigious awards show, as well as access to the red carpet and to the exclusive Governors Ball celebration. Other cards such as American Express also offer these kinds of perks.
Bonus malls: NerdWallet credit card guru Kim Palmer loves card-backed “bonus malls” — or e-shopping portals where you can order a broad array of merchandise from clothes to electronics, or “anything you can order to your house” — for discounted prices or a higher rewards rate. Issuers like Wells Fargo, Chase, and Discover have created their own, and shoppers log in to them online to make purchases for less, or to earn extra points. “Everything’s cheaper… It’s a great way to save money,” Palmer says, adding that these sites can also help you rack up points for other purchases, or significant cash back credits.
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