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How to be a savvy online shopper
It's easy to get carried away when you can order literally everything in the world at the click of a button.
Most people probably know the basics of what credit cards can do (and if not, no worries—check out our guide to the basics here! But did you know there are also a lot of hidden perks you could be getting with the right credit card?
Disclaimer: not every card is created the same. So, while this list should give you an idea of some of the things to look for, not every credit card will offer all of these benefits. Always read the fine print! And if you’re in the market for a new card, we can help with that, too.
1. Protect your mobile device*
If you use your credit card to buy your mobile device, or if you charge your regular monthly phone bill to your card, you may be eligible for mobile device insurance on your phone. This isn’t meant to take the place of your phone’s manufacturer’s warranty, but if your screen gets cracked, or you happen to lose or have your phone stolen, you might be eligible to be reimbursed—up to a maximum of $1,000.
2. Cover a change in plans
Stuff happens. Especially when you’re travelling. Plans can fall through or change once you’re already on your way. And while this can be disappointing, it can also be costly. But the right credit card might save you some money and headaches. Many cards offer trip cancellation and/or trip interruption insurance, which will reimburse you up to a certain amount if you have to cancel your trip altogether, or if you have to cut your trip short.
The right card can even help you out in the times when you arrive at your destination, but your luggage takes an unexpected detour. Most travel cards include lost or delayed baggage coverage, which will help you replace your stuff.
3. Cover medical expenses on the road
Nobody wants to get sick or injured while on vacation, but the reality is that it happens. And when it happens outside of the country things get expensive—fast. Even if you’re fit as a fiddle it’s a good idea to always carry health insurance when you travel. Depending on your credit card, you might be covered. Many credit cards offer travel insurance coverage for you, and some might even extend that coverage to the rest of your family, too.
4. Jump the line
When it comes to rewards, it’s not always just about stuff. Some credit card reward programs offer experiences. And, depending on the card, you might even be able to access pre-sale codes to make sure you get primo seats to see your favourite band or artist.
Not a music fan? Not a problem. Some cards allow you to use your points toward different experiences, including anything from wine-tasting tours to hot-air balloon adventures.
5. Cash back
Cashback rewards are fairly common with some credit card providers. But did you know that certain credit cards offer the ability to redeem regular rewards points for a cash credit toward your outstanding balance? After all, when it comes to paying off your debt, every little bit counts!
*Note: Mobile device insurance is exclusive to credit union Collabria credit cards.