Credit cards bring a lot more to the table than convenience, rewards and financing capabilities. They also provide a host of unheralded ancillary services that, in many cases, are touted as major selling points or actually sold separately to consumers by various merchants. This includes extended warranties, price matching, travel insurance and rental car insurance, just to name a handful of plastic-based perks. But despite the money-saving potential that these policies provide, far too few consumers either know about or understand these features well enough to truly take advantage of them.
The inconsistency of credit card issuer policies is one important reason for that. Not only do benefit terms vary by financial institution, but issuers typically apply each benefit only to certain offers in their card portfolios. When you further consider the loopholes and fine print typical of many such policies and factor in lingering consumer distrust which dates back to pre-CARD Act chicanery, it’s perhaps even more understandable why ancillary credit card benefits aren’t as popular as they could be.