Credit Card Perks and Benefits
Credit cards have a diverse pool of available perks and benefits. However, some benefits are only temporary while others have been staples of specific credit cards since the products have been released. Below, you’ll find a general list of perks that are commonly found with various types of credit cards. The list below is not a full and comprehensive list, please visit the specific card page for a full list of details as they may have changed since the writing of this article.
Sign up/Welcome bonus: One of the most attractive perk of any credit card is the sign up bonus. This is offered when you first sign up for a credit card but it does have time and spending requirements. This is the main way that travel can be cheap or even free.
Cash back: Who doesn’t like being rewarded with cash? Cash back credit cards do exactly that. You get cash back up to a certain percent of your spending within certain categories that you already spend on daily. Some example categories are grocery stores, gas stations, and restaurants.
Airline/Hotel Elite Status: Many credit cards offer card holders some level of hotel elite status that come with their own array of perks and benefits. Some hotels may offer various benefits like free breakfast, early check-in, late check-out, free parking, upgrades, club access, and more if you have hotel elite status. Airline elite status is also a popular benefit with perks like free checked bags and early boarding.
Lounge Access: Some credit cards provide lounge access at many airports worldwide that may provide food, drinks, a break from the busy airport and sometimes even showers. Priority Pass is a common program that is included in many premium credit cards. Other popular lounges include the Centurion Lounge and the Chase Sapphire Lounge.
Travel Credits: Certain credit cards will provide annual travel credits that alleviate the cost of airplane tickets, seat upgrades, lounge passes, food and drinks, internet fees, to name a few.
Early Access: A lesser known benefit of some credit cards is the ability to access tickets to events or concerts before the general public.
Food Credits: Popular perks include monthly food credits that help pay for meals on certain food delivery apps and participating restaurants that you may frequent anyways.
Insurance: A very useful benefit from some credit cards are different types of insurance that may be included when paying for trips or products with said cards. Types of insurance include but are not limited to primary/secondary car rental insurance, trip delay/cancellation insurance, cell phone insurance, theft, accidental damage, and even extended return windows on purchases of goods.
0% APR: Some cards provide 0% interest for the first few months and some even past one year. This is a very useful tool for those who need to make large purchases and need time to pay without incurring interest.