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Most people think of credit cards as a way to earn points, get cashback, or maybe unlock a few travel perks. But your credit cards actually include a long list of benefits (many worth hundreds of dollars a year!). And most cardholders rarely use them!
According to a recent poll, 23% of cardholders haven’t used their credit card rewards within the last year.
These “hidden perks” aren’t hidden on purpose. They’re buried in benefit guides, require small activation steps, or simply aren’t explained clearly.
But once you know what your card offers, you can save money, protect your purchases, and make your card work far harder for you.
Here are the most valuable perks, fully explained so you know exactly how to use them!
Erika Recommends
- Chase Sapphire Preferred® Card
No foreign transaction fees and access to free concierge service. - American Express Platinum Card®
“Lifestyle Concierge” assists with restaurant reservations and event tickets.* - Capital One Venture Rewards Credit Card
Travel rewards card with no foreign transaction fees.
1. Cellphone Protection
Many credit cards now include insurance for your phone if you pay your monthly wireless bill with that card.
What it typically covers:
- Screen damage
- Accidental drops
- Theft
- Repairs up to a set limit (often around $600–$800 per claim)
- Multiple claims per year, depending on your card
Why it’s valuable
A single cracked screen can cost more than $300. This perk essentially replaces paying for AppleCare or third-party insurance, saving you money if your phone falls out of your pocket.
How to use it
Pay your monthly phone bill with the card, keep your receipts, and know the deductible amount so you’re prepared if you need to file a claim.
For the claim process, you'll likely need to show proof of purchase, your phone bill, and possibly a police report if it was theft.
2. Purchase Protection
If you buy something and it gets lost, damaged, or stolen within a certain timeframe (usually the first 90 to 120 days), your card may reimburse you, thanks to purchase protection.
For example, these would count as a covered situation:
- A new jacket was stolen from your gym locker.
- You dropped or damaged your laptop a week after purchase.
- You order an item, and it arrives defective, but the seller won’t help.
Why it’s valuable
Retailers often refuse returns after a short window. Purchase protection extends that safety net.
How to use it
Save your receipts and document the damage or theft as best you can — you may even want to get a police report if it was a theft.
Then, file your claim with your credit card benefits administrator (usually via an online form or telephone number listed in your guide to benefits).
You may need to get a repair quote for a damage claim, and some issuers may require this to be from an authorized repair facility.
3. Extended Warranty
Some cards automatically extend the manufacturer’s warranty on eligible purchases — usually by another year.
Best items to use it on:
- Laptops and tablets
- TVs and monitors
- Cameras and lenses
- Home appliances
- Electronics with complex parts
Why it’s valuable
Think of it as your backup plan if something breaks right after the original warranty ends — one of the most common (and frustrating) situations for big purchases.
How to use it
Always use your card with the longest warranty extension when buying electronics or appliances.
To use the warranty, you’ll need to fill out an online form with your card issuer, usually within 90 days. They’ll likely ask for the original sales receipt, a copy of the manufacturer’s warranty, the item’s serial number, and possibly a repair bill or estimate.
Some issuers recommend you “pre-register” your extended warranty benefit — you can preemptively upload your sales receipt, manufacturer’s warranty card, and serial number in case you lose them later.
4. Price Protection
This perk refunds you the difference if an item you recently bought drops in price shortly afterward.
For example, say you purchase a blender for $199. But two weeks later, you see it on sale for $149. Price protection would give you back the $50 difference.
Why it’s valuable
Holiday sales and sudden markdowns happen constantly. Price protection prevents that sinking feeling when you notice a big price drop after the fact.
How to use it
Some issuers have removed this benefit from certain cards, so check whether yours still includes it.
If it does, and you made the purchase with that card, you can submit a claim to your card’s customer service. You’ll likely need to submit proof of your purchase and proof of the discounted price.
5. Travel Insurance
Many people buy separate travel insurance without realizing their card may already provide it for free, as long as the trip was purchased with the card.
Possible coverage includes:
- Trip delay reimbursement (meals, hotels, transportation)
- Trip cancellation/interruption coverage
- Lost or delayed luggage reimbursement
- Rental car collision coverage
- Travel accident insurance
- Hotel burglary protection
- Emergency assistance services
Why it’s valuable
Even a small delay can cost you hundreds of dollars in unplanned expenses — like if a snowstorm cancels your flight and you need to pay out of pocket for a hotel room and meals.
How to use it
Use your card with the strongest travel protections for all flights, hotels, and car rentals.
If you need to make a claim, you’ll need to provide proof of the travel issue, like delay notifications or a baggage report from the airline, and any receipts for out-of-pocket costs, like hotel stays and meals.
COMPARE: Best Credit Cards With Travel Insurance
6. Free Concierge Services
Some credit cards include access to personal concierge services, which is essentially a 24/7 assistant who can help with:
- Restaurant reservations
- Finding event tickets
- Booking delivery for gifts
- Planning travel routes
- Providing recommendations in new cities
- Hard-to-book experiences or last-minute plans
Why it’s valuable
Having your own concierge service is especially helpful if you're traveling, dealing with limited availability, or want someone to do the legwork for planning and logistics.
How to use it
Some cards that offer free concierge services include:
- American Express Platinum Card® — This card offers access to a “Lifestyle Concierge” that assists you with tasks like restaurant reservations and event tickets.*
- Chase Sapphire Reserve® and Chase Sapphire Preferred® Card — Both include a 24/7 concierge service for travel and lifestyle requests (e.g., restaurants, unique experiences).
- Visa Signature® Card and other Visa Signature/Infinite-level cards — You have access to the Visa Signature/Infinite concierge service, which assists with dining, travel, and entertainment requests.
American Express Platinum Card®
Rewards Rate
- 5x points on flights booked directly with airlines or with American Express Travel® on up to $500,000 on these purchases per calendar year; 1x thereafter
- 5x points on prepaid hotels booked with American Express Travel®
- 1x points on all other spending
Welcome Offer
You may be eligible for as high as 175,000 Membership Rewards® points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
Annual Fee
$895 (rates and fees)
Chase Sapphire Reserve®
Rewards Rate
- 8x points on all purchases through Chase Travel℠, including The Edit℠
- 4x points on flights and hotels booked direct
- 3x points on dining worldwide
- 1x points on all other purchases
Welcome Offer
Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Annual Fee
$795
7. Security & Spending Controls
Credit cards include sophisticated digital tools to help you stay safe and manage your money better:
- Real-time fraud alerts
- Instant card freeze/unfreeze
- Virtual card numbers for safer online shopping
- One-time-use card numbers
- Location-based spend verification
- Spending limits for different merchants
- Alerts for unusual activity
Why it’s valuable
These tools reduce your risk of fraud and give you better control over how your card is used — especially useful for families managing shared cards.
How to use it
For alerts and verifications, you don’t need to do anything. Your issuer’s alert system will automatically notify you if something with your account looks fishy.
Card freezing/locking and virtual or one-time-use numbers can often be done right within your banking/card app.
8. No Foreign Transaction Fees
If you travel or shop from international websites, using a card with no foreign transaction fees saves the typical 3% surcharge added to foreign purchases.
Why it’s valuable
That small percentage adds up fast — $300 spent abroad could mean $9 in fees, every time.
How to use it
Get the right card for traveling and shopping internationally online.
Here are some good examples:
| Card | Rewards |
|---|---|
Chase Sapphire Preferred® Card
Learn More |
|
Capital One Venture Rewards Credit Card
Learn More |
|
American Express® Gold Card
Learn More |
|
Prime Visa
Learn More |
|
9. Monthly or Annual Credits
Many cards offer built-in credits that people miss because they require activation.
These perks (and their requirements) often live buried in the fine print of your benefits guide, meaning you could be paying an annual fee without getting the value back that you’re entitled to.
Examples include:
- Streaming service credits
- Food delivery credits
- Ride-share or taxi credits
- Hotel or airline credits
- Free shop credits with specific retailers
- TSA PreCheck®/Global Entry reimbursement
- In-flight wifi credits
- Digital subscription credits
Why it’s valuable
These credits can save you hundreds of dollars every year — sometimes enough to completely offset the annual fee.
For example, a card with a $95 annual fee might offer $120 in annual streaming credits and $100 in airline credits. That’s $125 in value from just two benefits.
How to use it
Go through your benefits guide to see everything you’re entitled to and make sure to activate any that require it. If any require annual enrollment, create a calendar reminder so you don’t miss out.
Some benefits may require you to complete a specific action, like spending a certain amount of money in a specific category during the year. This is common for things like hotel and airline credits or earning annual bonus miles/points.
Note these in your budget so you know what’s needed, but don’t overspend just to hit a credit.
10. Emergency Support Services
Beyond insurance, many cards provide access to emergency support when you’re in a difficult or unexpected situation.
This may include:
- Emergency card replacement
- Medical or legal assistance referrals
- Help if you lose your passport while traveling
- Hotel and flight rebooking help
Why it’s valuable
It’s the kind of perk you don’t think about until you need it. These services can save you hours of stress and confusion by connecting you with the right resources quickly
How to use it
Save your card's emergency assistance phone number in your phone before you travel, and keep a copy separate from your wallet in case it's lost or stolen.
When an issue arises, call them — representatives are usually available 24/7.
How to Unlock Hidden Credit Card Perks
Getting the most out of your credit card doesn’t require a lot of work. Start here:
1. Download your card’s benefits guide
It’s usually available online as a PDF and contains every perk your card offers.
2. Make a quick checklist
Note which benefits you have and which ones you’re already using.
3. Enroll in anything that requires activation
Credits, insurance, and extended warranties often need a one-time enrollment.
4. Match your card to the purchase
- Electronics → card with extended warranty
- Travel → card with strong travel insurance
- Phone bill → card with phone protection
- International purchases → card with no foreign transaction fees
- Monthly services → card with streaming or subscription credits
5. Review once a year
Issuers update benefits frequently — sometimes improving them, sometimes removing them. A quick annual check can save you money and headaches.
TL;DR: Maximize Your Credit Card Perks
You may be sitting on hundreds of dollars of unused perks, protections, and credits!
By understanding what your card already offers, you can spend smarter and get far more out of every card in your wallet.
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* Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
