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Benefits of paying with credit cards

March 8, 2012

Even if customers are accumulating frequent flier miles and cash back rewards already, paying with plastic could present them with a number of benefits they didn't know were available

Even if customers are accumulating frequent flier miles and cash back rewards already, paying with plastic could present them with a number of benefits they didn’t know were available. As long as credit card customers pay off the balance in full at the end of every month, they might actually be getting more for their purchases than they would with when paying with debit cards or cash, according to a study by Investopedia.

Some of the less known perks of credit card payments include chargebacks, extended return policies, price protections, extended warranties, damage and threat protection, and airline credit.

One unexpected budget saving provision is price protection. When consumers buy plane tickets through a virtual credit card terminal at online travel websites, they can sometimes get a lower price if it becomes available. This doesn’t eliminate them from airlines’ change fees, but the card programs will still alert customers of better deals. 

Additionally, consumers can feel a little more protected when they pay with certain cards. Some companies will extend warranties longer than those offered by retail stores while others cover qualifying items against accidental damage or theft for a certain number of days after the purchase. 

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