Beyond Credit Card Points: How I Saved Money Traveling for 10 Months by Uncovering These 6 Overlooked Benefits

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  • I journeyed through Latin America and Antarctica for almost a year, and I was pleased to have my credit cards with me.
  • Perks such as hotel status, travel insurance, and airport lounge access made my journey more affordable and convenient.
  • There's no value in credit card rewards or points if you're unable to clear your balance each month.

Even though much of the media attention on credit card advantages centers mainly on accumulating reward points, numerous other lesser-known perks can help users save significant amounts of money. These include various loyalty bonuses, insurance protections, and rental car privileges, among others. Using these features wisely when managing your finances with credit cards opens up multiple extra incentives beyond just earning rewards.

I've just come back from spending 10 months touring Latin America and Antarctica, and I felt an immense appreciation for having my credit card benefits and safeguards along with me throughout the journey.

I would not advise utilizing credit cards in this manner unless you settle the entire outstanding balance every month.

Here are some of my favorite, less widely known benefits.

1. Hotel status

A number of my credit cards—including the Marriott Bonvoy Business® American Express® Card and the IHG One Rewards Premier Credit Card—offer automatic elite status. This status doesn’t represent the top-tier level for these hotel chains, yet it provides an array of perks nonetheless.

My elite status at both the gold level with Marriott and platinum level with IHG has resulted in various complimentary perks ranging from brownies to fruit baskets. During a stay at a Marriott hotel in India, they provided lunch for me and my three friends since our room was not yet available. Meanwhile, an IHG location in the same country treated me to a free foot massage.

Read our Review of the Marriott Bonvoy Business Credit Card and our Review of the IHG One Rewards Premier Credit Card .

2. Insurance

A multitude of credit cards come equipped with insurance coverage. Among these, one prevalent benefit is often the extension of the purchase protection warranty for goods bought using your card. As an example, Chase purchase protection is applicable to numerous of the best Chase credit cards .

Several travel-specific insurance alternatives are available too. Many credit card providers include benefits such as compensation for delayed or damaged luggage—when airlines do not reimburse you—and cover the cost of essential items purchased while waiting for your baggage. Although I haven’t personally encountered this issue, I’ve heard from numerous individuals who misplaced their bags and didn’t realize these protections were an option.

Finally, many of the top credit cards offering travel insurance Additionally, include accident and emergency insurance, which can safeguard you if an incident occurs while traveling. Simply put, travel insurance covers Evacuation insurance; your card will cover that as well — which can be helpful during an unexpected medical emergency.

3. Damage Waiver for Rental Cars

Another widely offered coverage is the rental car damage waiver, which you can find included in many policies. best travel credit cards This feature enables you to refuse the (frequently expensive) waivers that rental car agencies provide. It’s one of the most typical advantages and comes with almost every credit card.

Simply use your card to cover the cost of the rented vehicle, opt out of their damage protection plan, and then provide documentation to your financial institution following any accident. Keep in mind that typically you'll need to settle payment directly with the car rental agency initially; afterward, the bank will refund you.

4. Lounge access

Credit cards provide numerous lounge access alternatives. American Express offers these benefits as well. Amex Centurion Lounges , Chase now has the newest Chase Sapphire Lounges Moreover, Capital One operates its own series of lounges. Additionally, there are dedicated airline lounges as well as membership networks such as Priority Pass and Plaza Premium.

You'll typically find credit cards offering airport lounge access to be mid and higher-tier cards, usually with an annual fee of $150 or more. This is one of my favorite perks because it allows me to get food without having to worry about the extreme airport prices. Some lounges also offer services like beauty services, massages, and places to work.

5. Discounts

Many large corporations provide reductions via credit card linked offers , and these offers typically apply to products or services you were already intending to use or purchase. In recent months, I’ve gotten access to Paramount+ at no cost, a $30 discount on a Turo rental, and a $10 savings at a restaurant I had planned to visit anyway—and those are just some examples. Usually, these deals must be activated via your bank’s online platform or mobile application initially, or you might need to make purchases through the bank’s portal. online shopping portal .

6. Credit for Global Entry/TSA PreCheck

The top credit cards offering Global Entry and TSA Precheck enables you to cover the service fee with your card and subsequently credits you for the entire amount. The TSA PreCheck program permits participants to breeze through security checks without removing their footwear or pulling out specific items from their luggage, along with access to a dedicated shorter queue. On the other hand, Global Entry accelerates the customs procedure upon your return to the United States.

Although utilizing credit cards to amass points and miles might prove an excellent method to reduce your travel costs, several additional advantages may ultimately lead to greater savings.

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