If handled wisely and with enough financial know-how, credit cards are really not as bad as many people think. In fact, there are many perks to owning one. The right credit card will open up many opportunities.
Apart from the obvious sign-up bonuses, interest rates, and cashback rates, banks also offer other rewards that often get lost in the paperwork. Knowing more about these hidden perks gives cardholders an extra advantage and may even help to encourage responsible spending.
CompareMyRates has discovered hidden credit card perks that many cardholders are unaware of. Here’s a list of hidden perks and privileges offered by credit cards that you may already have…
Scotia Momentum Visa Infinite Card has free wine tasting perks
Wine enthusiasts can enjoy free wine tastings and private tours with Visa Infinite’s Wine Wonders program. Drive through wine country across Ontario and British Columbia, and sample some of the best wines in Canada. Some wineries included in the tour also offer discounts on their wine selection and other merchandise.
Infinite Dining Series provides perks and privileges for foodies who are looking to tease their taste buds. Enjoy great deals including food and wine pairings, excellent Italian or French cuisine, and other gastronomic delights.
Jetsetters may also enjoy a variety of offers from over 900 hotels worldwide including Park Hyatt, Shangri-La, and Peninsula. Book a hotel at www.visainfiniteluxuryhotels.ca using your Visa Infinite card and find the best rates and upgrades available to you.
Starwood Preferred Guest Credit Card from American Express gets you pre-sale tickets
The Starwood Preferred Guest Card is an Amex card that comes with the Front of the Line program. This program entitles guests to pre-sale tickets to a variety of shows, concerts and theatre productions. This exclusive privilege lets you skip the queues and get the best tickets before they even go on sale. Cardholders also enjoy special offers, including advanced movie screenings or travel packages to exotic locations.
SPG’s Moments program offers once-in-a-lifetime moments that everyone needs to experience. Cardholders can enjoy private dinners prepared by a Michelin-starred chef and VIP seats at the best events in town. Sports fans may get the chance to enjoy special seating at a Toronto Maple Leafs hockey game, or a tour of the Hockey Hall of Fame in Toronto. From dream vacations, to fantastic ‘staycation’ options, SPG will make it happen.
Scotiabank Gold American Express card has insurance perks
For cautious souls, Scotia Gold Amex offers excellent packages for travel, rental, and insurance perks. Wherever you are in the world, you’ll have access to hotel or motel burglary insurance and up to $1 million in emergency medical coverage. You won’t have to worry about untoward incidents when you’re far from home – Scotia Gold Amex has you covered.
Most Canadians are familiar with purchase protection, which reimburses the cardholder for lost or stolen items. Scotia Gold Amex takes this to the next level by offering price protection.
Price protection ensures cardholders against price drops of items charged to the card that take place within the next two months. This means that if you buy an item that costs $300 today and its price drops to $200 within the next 60 days, Scotiabank Gold American Express will refund the $100 price difference to your card.
SimplyCash card from American Express has referral perks
Holders of the American Express SimplyCash card are entitled to a cashback bonus of $100 for each client they refer to them. Cardholders can rack up as many as 15 approved referrals per year, which gives a total cashback of $1,500. If used wisely, the card will practically pay for itself.
It is also interesting to know that the SimplyCash card offers an introductory interest rate of only 1.99% for its balance transfer options for the first 6 months. You may transfer up to 50% of your credit limit – the maximum amount is $7,500 – with no balance transfer fee.
Like most things in life, owning a credit card has both plus points and down sides. The key to mastering your credit card and maintaining a good credit score is to learn everything you can about it. Many credit card applicants fail to read through the documentation that comes with the application process.
But, taking some time to become more vigilant about the process will potentially save you money and also give you access to several perks you may have otherwise missed.