Credit cards may seem daunting to many people who have not used it before or who think of them as gaining additional debt. However, owning and using a credit card does offer numerous benefits. They can be a very valuable financial tool for many people because they carry certain benefits that may not be as widely known as their more popular features such as cash back or miles, but are just as advantageous to their users. Here are some of the most important benefits of having a credit card.
First, certain credit cards like MBNA smart cash offer price protection features which are intended to help you save money on your purchases. What this means is that when you buy an item that later on gets marked down, you will get a reimbursement for the difference in the price. Keep in mind that some purchases may not be eligible for reimbursement and the total reimbursement amount that you can receive every year varies depending on the card, but it is still a convenient and useful service that ensures that you get your money's worth for every purchase that you make. Just remember that some cards set time limitations on claiming reimbursements. It usually ranges from 60 to 120 days from your date of purchase. Read this article and learn more the benefits of having a credit card.
Second, some cards also offer concierge services that will allow you to make a reservation at certain restaurants, secure tickets to amazing events, and help you purchase rare and hard-to-find items. You can usually do this on the app that comes with your credit card. You can also use the app to obtain more information about the different deals, promotions, sales, and discounts that are happening near where you are located. Keep in mind, however, that majority of these promotions tend to be geared towards higher-end and luxury stores. If you make a luxury purchase at least once a year, then this a great feature to take advantage of.
Finally, credit cards also come with special perks such as the MBNA CA rewards. For example you can take advantage of offers that allows you to have additional perks when you travel. This may involve receiving benefits such as an early check in, free room upgrade, or receiving a complimentary breakfast at hotels that participate in the card's rewards program. It is a great benefit to have especially when you frequently travel for business or for leisure.