Maximize Credit Card RewardsTaking advantage of the perks associated with any credit card is a key line of promotion that many card companies use to entice potential clients. Unfortunately, many people obtain credit cards with every intent to utilize these benefits but end up falling short on following through, using the cards only ever so often or not making the required purchases necessary in order to qualify for select perks.

If you have a rewards card but have not been getting the best bang for your buck, continue reading to find out ways in which your card may be able to live up to its promised potential.

Cash Back Reward Programs

Most reward cards offer some form of cash back, as this is the “lowest common denominator” for any card purporting to offer perks. Unfortunately, many of these cards come with specific stipulations on when and where this applies. One card may be great for gasoline purchases by offering 5 percent cash back, while another card may have a bigger rewards bonus for groceries. Each card issuer has set forth specific rewards for each category of spending – you may already have multiple cards, each with a bonus on a particular type of purchase. Know these rates and use your cards wisely: the cash back will add up little by little.

Traveling Bonuses

When you are on the go, perks and bonuses can go a long way. Fortunately, most rewards cards offer travel perks to those who find themselves in certain situations. Whether you are renting a card and need backup insurance, have a flat tire or need concierge service, a rewards card will probably have at least some of these features available. In addition to this, you may find that your card offers bonuses such as discounted hotel rooms, frequent flyer points and much more.

Price Protections

Many cards offer a not-so-spoken-of reward that prevents you from losing out on the best deals: price protection. In the event you make a purchase (a television, for example) and the price suddenly drops $50 in the days following your purchase, you may be eligible to submit a request for a refund of the difference via your credit card company. There are stipulations, of course, and each card will have its own requirements for this program, but if available, this can potentially save you lots of money.

Extended Warranties

If that expensive item you recently purchased has an issue and is not covered under a limited manufacturer’s warranty, then your card may be able to provide benefits to assist with that. Many cards have clauses that provide up to an additional year of warranty coverage – check with your card issuers to determine which of your credit cards have this protection clause built into them.

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