Special perks are often what draw you to one credit card company over another, but many of those perks are disappearing and you may not even realize it.
You’ve heard of cash-back and mileage reward cards, but credit cards may offer these other benefits, too:
• Rental car insurance
• Road side protection
• Price protection
• Extended warranties
• Travel insurance
• Lost luggage and hotel theft insurance
• Early access to concert and sports tickets
The catch? These benefits are getting harder to find at many credit card companies.
The companies say lack of interest in these perks is the reason for eliminating them.
But financial experts Jim Lowell tells our sister station WPXI in Boston that it’s likely the companies are doing what’s in their best interest.
“While credit card companies I’m sure are going to be very clever in terms of how they are going to word the benefits of these new changes, it will still end up likely costing the consumer rather than the credit card issuer,” Lowell says.
Experts say people with good credit should be picky and shop around for the cards that still offer perks.
If you carry a balance, your top priority to should be to find a low-interest rate card.