Last updated: 13 November 2015

With the holiday season fast approaching, now is the perfect time to make use of all those credit card perks you’ve long forgotten about. Your first question is probably, “What credit card perks? Tell me more!” Well, many credit cards come with extra benefits that many of us often forget about. Let’s check out 5 common credit card perks and how you might use them.


1. Zero Liability

Most credit cards these days come with zero liability, which is fancy credit talk for fraud protection. With zero liability, you are not held responsible for unauthorised or fraudulent purchases made with your credit card. This is just one of the potential benefits of using a credit card over other payment methods such as a debit card.

If you ever spot a transaction on your credit card statement that you didn’t make or have no knowledge of, contact your credit provider right away so they can investigate the charge. For more information please refer to your credit card terms and conditions or get in touch with your credit provider.

For more tips on how to protect yourself from fraud, check out our article: 5 tips to help prevent identity theft.


2. Travel Insurance

Jet-setting around the world is always lots of fun, but don’t forget to get travel insurance in case you find yourself in a sticky situation. Many credit cards offer complimentary overseas travel insurance if you pay for your all or part of your holiday on your credit card. Just make sure you’ve read through the policy in case you’re not covered for a particular event or incident and that you meet the conditions to be eligible for the insurance. For example, quite often pre-existing medical conditions will not be covered by the travel insurance on your credit card.


3. Extended Warranty and Accidental Damage Insurance

When you’re out buying Christmas presents or taking advantage of the end of year sales, your credit card may offer you extended warranty or accidental damage insurance on your purchases.

Extended warranty is just as it sounds. If you by a new TV with a 6 month warranty, your credit card may extend the warranty by an extra 6 months. The length of the extension will depend on the length of the original warranty and is usually capped at 12 months.

Did your kid throw a ball at your new TV the day after it arrived, shattering it into a million sad and tiny pieces? You might qualify for accidental damage insurance! It insures purchases made on your credit card in the event they are damaged, broken, lost or stolen within a limited number of months of purchase. This is generally three months from purchase, but can vary from card to card.


4. Shopper’s Protection Insurance

It’s incredibly frustrating when you buy something only to see it advertised at a cheaper price. Shopper’s protection insurance (also known as guaranteed pricing insurance or price protection insurance) lets you claim the difference between the price you paid and the lower advertised price.

Of course, there are conditions. You’ll have to provide proof of the price difference such as a copy of your receipt and the store catalogue with the cheaper price, the cheaper item needs to be from the same or comparable store, you must submit your claim within a certain number of days after the purchase and there’s usually a minimum price difference you must meet for your claim to be approved.


5. Concierge Service

Ever wanted to feel like a rockstar and have a personal assistant at your fingertips? Or maybe you’re not sure what to buy your mother-in-law for Christmas. Well, you’re in luck! Many premium credit cards come with a 24/7 personal concierge service. With just one phone call, they can help you make hotel or dinner reservations, purchase concert tickets, provide gift suggestions, book golf or spa days, arrange flower deliveries, even book you in for a session with a personal trainer.


Interested in finding a credit card with extra perks? Head over to our credit card comparison service to check out the latest deals. But as we always say, only apply for credit if and when you really need it and remember to read the fine print!