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Business Insider
a day ago
- Business
- Business Insider
Best Credit Cards in America: Top Credit Card Offers for June 2025
I think about credit cards all the time. As a personal finance journalist, I've covered credit card rewards for a decade and have more than three dozen active cards. It's impossible to name a single credit card that would be perfect for everyone's needs. But knowing what you want from your credit card can help you find your best option. My family and friends frequently ask me, "What's the best credit card?" and "What credit card should I get?" I offer personalized recommendations based on their individual needs and wants, factoring in benefits, rewards, and financial protection they won't get from paying cash or using a debit card. I compiled this list of winners based on that research. I compared welcome offers, ongoing rewards for common expenses, benefits and protections like trip insurance and purchase protection, and reasonable annual fees (or lack thereof) across dozens of credit cards available today. These are the best credit cards you can get right now — you'll find most of them in my own wallet. Best For Card Annual Fee Best for cash rewards Wells Fargo Active Cash® Card $0 (rates and fees) Best for travelers Chase Sapphire Preferred® Card $95 (rates and fees) Best for families Blue Cash Preferred® Card from American Express $0 intro for the first year, then $95 (rates and fees) Best for 0% APR Chase Freedom Unlimited® $0 (rates and fees) Best for young adults Bilt Mastercard® $0 (rates and fees) Best for reward maximizers Discover it® Cash Back $0 What Is the Best Credit Card to Get? I always say there isn't a magical "best credit card" that works for every person. Many people prefer no-annual-fee credit cards because they're easy to keep long-term. Other people don't mind paying a hefty annual sum for premium credit cards with airport lounge access because the benefits of luxury and comfort are worth the cost. Some value travel rewards credit cards, while others prefer to focus on cash-back credit cards. Wherever you fall on each of these spectrums, I encourage you to hone in on what you really need for your personal situation. If you have kids, you may want to forgo airport lounges in favor of free checked bags. If you travel solo, you may want to prioritize credit cards that offer luxury benefits such as hotel elite status and shopping credits. Credit Cards for Families For parents with young children, I recommend credit cards that reward groceries, streaming services, and commuting expenses with flexible points that can be redeemed in many different ways. The Blue Cash Preferred® Card from American Express checks all of these boxes. I also suggest choosing a credit card that offers travel insurance coverage, since little kids often get sick during or right before a big trip. If you have to cancel or reschedule that expensive Disney vacation, it's always nice to recoup some of your nonrefundable expenses. The Chase Sapphire Preferred® Card is my top choice recommendation for this benefit because it's so well-rounded on all of these fronts. Credit Cards for Young Adults Young adults in college or early in their careers often find themselves spending a lot of money on rent while dining out with friends or colleagues every night. At the same time, they often value the simplicity of loading a single credit card into Apple Pay and using it for every transaction. The Bilt Mastercard® is perfect for this life stage, with gamified rewards and bonus points on common lifestyle expenses. If you're a first-time credit card applicant or a student with minimal income, you may want to consider one of the best starter credit cards or the best student credit cards. When to Pay For Annual Fees If you're a foodie, you'll want to choose one of the best credit cards for dining, restaurants, and food in general. But if you're more of a homebody, you may want to focus on the best credit cards for buying groceries and the best credit cards for gas purchases. What to Get If Your Credit is Subpar If your credit score is lower than you'd like, you may qualify for some of the best credit cards for bad credit or seek a secured credit card, which can help you heal your credit and even earn rewards while you work toward a stronger financial future. Airline Lounge Access for Infrequent Travelers It isn't worth paying for airport lounge access via a credit card if you're an infrequent traveler. Instead, pay for a mid-tier travel credit card with a sub-$100 annual fee, and buy lounge day passes as needed. If you find yourself buying more than two lounge passes each year, it might be time to consider an upgrade. How I Chose the Best Credit Cards Choosing the best credit cards is a momentous task and a responsibility I take very seriously. I regularly evaluate dozens of credit cards available to consumers and business owners, and update this guide on a monthly basis. In addition to considering my own perspective and consulting with industry colleagues, I also read popular forums such as Reddit and FlyerTalk to see what everyday consumers are saying about different cards. I evaluated each of the cards in this guide — and screened out many others — against the following criteria: Simplicity: All of the cards on this list are easy for consumers to use and understand. While I regularly update several credit card guides for maximizing rewards and benefits, my list of top recommendations is meant to help people like my parents find an easy card to use for everyday purchases. Affordability: Most of the credit cards in this guide don't cost you any money to keep. While there's a case to be made for paying a high annual fee when you're getting high value in return, most people dislike the idea of paying money to spend money. Value: A good credit card should offer enough value to offset any annual fee several times over. When evaluating no-annual-fee cards, I focused on the ones that provide the best benefits or most generous rewards. Read Business Insider's guide to points and miles valuations to learn what your credit card rewards are worth, and learn more about how we rate credit cards. Wells Fargo Active Cash® Card The Wells Fargo Active Cash® Card is ideal for people who prioritize flat-rate cash rewards. Its ease of use makes it our pick for the best credit card for earning cash rewards. This card is all about simple math and cash, earning unlimited 2% cash rewards on purchases across all categories. Wells Fargo Rewards can easily be redeemed for statement credits, gift cards, travel, and more. New cardholders can easily earn a $200 cash rewards bonus after spending $500 in purchases in the first three months from account opening. There's also a 0% intro APR on purchases and qualifying balance transfers for 12 months from account opening, followed by a 19.24%, 24.24%, or 29.24% variable APR. Finally, the Wells Fargo Active Cash® Card comes with a wide range of valuable benefits including cell phone protection for up to $600 per claim. This card does charge foreign transaction fees, so leave it at home on international trips. What I don't love: Foreign transaction fees Capital One Savor Cash Rewards Credit Card The Savor Cash Rewards Credit Card is the best credit card for foodies. That's because this card earns serious rewards on food and fun: 8% cash back on Capital One Entertainment purchases, 5% cash back on hotels and rental cars booked through Capital One Travel, 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), and 1% cash back on all other purchases. Capital One miles are very easy to use once you've earned them, and have an average value of 1.7 cents apiece by Business Insider's calculations of what points and miles are worth. New cardholders can earn $200 cash back after you spend $500 on purchases within three months from account opening, and 0% intro APR on purchases and balance transfers for 15 months (3% fee for the first 15 months, then 4% at a promotional APR that Capital One may offer you at any other time), followed by 19.24% - 29.24% Variable APR. What I love: Great earning rates, no annual fee, and 0% intro APR What I don't love: Typically requires excellent credit score for approval Pro tip: If you're a student, you may want to consider the Capital One Savor Student Cash Rewards Credit Card. It has more lenient credit requirements but earns the same generous rewards. Citi Double Cash Card The Citi® Double Cash Card offers solid benefits and rewards while helping you pay off debt via a long balance transfer period, making it our top credit card for paying down debt. New cardholders can benefit from a 0% intro APR on balance transfers for 18 months, then 18.24% - 28.24% Variable APR. Cardholders who want to make a balance transfer must pay the following balance transfer fee: 3% intro fee of each transfer ($5 minimum) completed within the first four months of account opening, then 5% of each transfer ($5 minimum). But this expense is significantly lower than the credit card interest you'd pay elsewhere. The Citi® Double Cash Card earns unlimited 2% cash back on every purchase (1% cash back when you buy, plus an additional 1% as you pay for those purchases) and 5% cash back on hotel and car rentals booked on the Citi Travel℠ portal through 12/31/25. This rate is generous for a card with no annual fee that offers such a long period with no interest, and makes the Citi® Double Cash Card worth keeping in your wallet long after your zero-interest offer expires. New cardholders can also earn $200 cash back, fulfilled as 20,000 ThankYou® Points, after spending $1,500 on purchases in the first six months of account opening. The Chase Sapphire Preferred® Card is best for travelers for several reasons. One of those factors is complimentary travel insurance with generous coverage terms, especially for its low annual fee of $95. Travel insurance benefits help you recoup non-refundable expenses when things go awry, and this coverage is particularly beneficial for families who may need to cancel or postpone travel at the last minute for illness or bad weather. Cardholders also get primary car rental insurance, trip delay insurance, and baggage delay insurance. Finally, cardholders earn 5 points on travel purchased through Chase Travel℠, 3 points on dining, select streaming services and online groceries, 2 points on all other travel purchases, and 1 point on all other purchases. They also get a 10% anniversary points bonus, and up to $50 a year in statement credits for hotels booked through Chase. What I don't love: Annual fee Pro tip: Right now, new cardholders can earn a welcome bonus of 60,000 bonus points after you spend $5,000 on purchases in the first three months from account opening. This offer is worth $1,080, according to Business Insider's valuations. Blue Cash Preferred ® Card The Blue Cash Preferred® Card from American Express is a fantastic household credit card for families who spend money on groceries, commutes, and streaming services. This card earns 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%) and on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit, and 1% cash back on other purchases (cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at checkout). Terms apply. The Blue Cash Preferred® Card from American Express has an annual fee of $0 intro for the first year, then $95 (rates and fees). If you max out the cash back bonus at U.S. supermarkets spending $6,000 each year, that's $360 of cash in your pocket — significantly more than the annual fee you'll start paying in Year 2. What I love: Generous rewards for gas, transit, groceries, and streaming expenses What I don't love: Annual fee after the first year (rates and fees) Pro tip: If you like everything about this card except its yearly cost, consider its sibling, the no-annual-fee Blue Cash Everyday® Card from American Express. This card earns 3% cash back at U.S. supermarkets, at U.S. gas stations, and on U.S. online retail purchases (on up to $6,000 per category per year, then 1%) and 1% cash back on other purchases (cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at checkout). The Chase Freedom Unlimited® is our pick for the best credit card for an intro APRO because it offers a generous 0% intro APR on purchases and balance transfers for the first 15 months, then 18.99% - 28.49% Variable APR. The Chase Freedom Unlimited® also earns great rewards, especially for a no-annual-fee credit card: 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases. New cardholders can earn a generous welcome bonus on this card: $200 bonus after you spend $500 on purchases in the first three months from account opening. This card charges foreign transaction fees, so make sure you leave this card in your wallet when you pack your passport or shop online from a non-U.S. business. What I love: Great earning rates, no annual fee, and initial zero-interest period What I don't love: Foreign transaction fees Pro tip: While this is technically a cash-back credit card, it earns those rewards in the form of Chase Ultimate Rewards® points. I can transfer points from my Chase Freedom Unlimited® to a Chase credit card that earns travel rewards, like the Chase Sapphire Preferred® Card, to book business-class award flights through Chase transfer partners or through the Chase Travel℠ portal. Chase points are some of the most valuable credit card rewards you can earn, worth an average of 1.8 cents apiece by Business Insider's valuations. Bilt Mastercard® The Bilt Mastercard® is a one-size-fits-all credit card for young adults because it earns bonus points on restaurant and travel purchases. Young adults can even earn up to 100,000 Bilt Points per calendar year on rent by paying rent with this credit card without incurring any transaction fees. Bilt Points are extremely flexible and can be used to pay rent, book travel, or redeemed for merch or statement credits. Even non-renters earn great rewards with the Bilt Mastercard®. For instance, I got this card because I can earn 3 points per dollar on dining, 2 points on travel, and 1 point on other purchases. You won't earn points unless you make at least five purchases each billing cycle, but this card makes it very easy to maximize your everyday purchases. Cardholders earn double points on the first day of every month, affectionately known as " Bilt Rent Day", on up to 1,000 points. The Bilt Mastercard® also comes with generous benefits including primary rental car insurance, trip delay insurance that goes into effect after just six hours, cell phone protection of up to $800 per claim which is subject to a $25 deductible, and no foreign transaction fees (rates and fees). All of these benefits add up to make the Bilt Mastercard® a perfect travel companion for adventurous young adults who are ready to see the world but aren't prepared to pay an annual fee for a credit card. What I love: Double point days, the ability to pay rent with a credit card, and generous dining rewards with no annual fee (rates and fees) Pro tip: You don't have to be a Bilt cardholder to earn Bilt Points. Simply link any credit card to the Bilt app wallet to earn points on all eligible dining purchases. The Discover it® Cash Back makes earning extra fun, when you enroll in the quarterly 5% bonuses that change every three months with up to $1,500 in combined category spending. Cardholders can earn 5% cash back on purchases from rotating categories each quarter up to $1,500 when you activate and unlimited 1% cash back on all other purchases (from April 1 to June 30, 2025, earn 5% cash back at grocery stores and wholesale clubs on up to $1,500 in purchases after enrollment, then 1%). I use Business Insider's Discover cash back calendar to help me remember each quarter's categories. This card doesn't earn a traditional welcome bonus, but Discover will automatically match all the cash back earned at the end of new card members' first year through the Discover it Cashback Match program. This means you'll have your rewards earnings matched at the end of Year 1 of card ownership. This card offers new cardholders a generous zero-interest offer on new purchases and existing debt: 0% intro APR for 15 months on purchases and balance transfers, then 18.24% - 27.24% Variable APR APR. While some cards offer longer 0% APR periods, few do so while still earning rewards as generous as the Discover it® Cash Back. Southwest Rapid Rewards ® Priority Credit Card Southwest is one of the most popular airlines for U.S. travelers, and the Southwest Rapid Rewards® Priority Credit Card gives frequent flyers a serious leg up on benefits. This credit card is Southwest's premium consumer card and comes with a $149 annual fee. But cardholders get an annual credit of $75 toward Southwest flights, which effectively halves the out-of-pocket cost of the annual fee. After 50-odd years of proudly proclaiming no bag fees, Southwest Airlines began charging for checked bags in late May 2025. But cardholders and travelers with elite status will still be able to check at least one free bag per flight. Southwest will also begin charging for seat assignments in late 2025. While we don't yet know many details about this momentous change, cardholders will likely get exclusive benefits that everyday travelers do not. If nothing else, Southwest Rapid Rewards® Priority Credit Cardholders will earn 3 points per dollar when paying for preferred seating. The Southwest Rapid Rewards® Priority Credit Card won't do you any good if you don't fly Southwest, of course. But if you do, this card can help you fast-track your way to elite status and the coveted Southwest Companion Pass, especially if you time your welcome offer just right. What I love: $75 annual statement credit toward Southwest travel, free checked bag Capital One Venture X The Capital One Venture X Rewards Credit Card is the most affordable premium credit card with complimentary access to Capital One Lounges and Priority Pass airport lounges. The $395 annual fee may shock you, but the Capital One Venture X actually offers lounge access at a far lower cost than its competitors. Authorized users under your account also get complimentary memberships to all Capital One lounges — an unprecedented generosity you won't see from any other high-end credit card including the Chase Sapphire Reserve® and The Platinum Card® from American Express. Cardholders get an annual travel credit of up to $300 on travel booked through the Capital One travel portal, and a 10,000-mile bonus on each account anniversary worth at least $100 toward travel. New customers can also earn 75,000 bonus miles when you spend $4,000 on purchases in the first three months from account opening. Rewards are very easy to calculate: 10 miles on hotels and rental cars booked through Capital One Travel, 5 miles per dollar on flights and vacation rentals booked through Capital One Travel, and 2 miles on all other purchases. They're also very easy to redeem. FAQs The Chase Freedom Unlimited®, the Bilt Mastercard® (rates and fees), and the Chase Sapphire Preferred® Card are three of the top credit cards you can get right now. Each card earns generous rewards on everyday expenses like food and travel. The information for the following product(s) has been collected independently by Business Insider: Citi® Double Cash Card. The details for these products have not been reviewed or provided by the issuer.
CNET
13-05-2025
- Business
- CNET
I've Earned $90 in 2025 by Using This Credit Card for My Grocery Shopping
Choosing the right credit card for grocery purchases can help you stretch your food budget. MASTER/Getty Images The cost of groceries has increased by 2% for the 12-month period ending April 2025, according to the US Bureau of Labor Statistics. So if you're looking for ways to save money on food, you're not alone. The right grocery credit card can put money back in your pocket whenever you restock your kitchen. My Blue Cash Preferred® Card from American Express, for example, has turned out to be the most rewarding credit card I have. Since I got it five years ago, it's earned me hundreds of dollars back on my supermarket spending. Some of the best grocery cards -- those offering cash-back rewards or points -- can stretch your grocery budget by as much as 6%. These cards typically also offer rewards in other spending categories, and many come with a sizable welcome bonus. For rates and fees of the Blue Cash Preferred Card from American Express, click here. How do grocery cards work? Grocery credit cards work like any other credit card. Just use the card for your grocery spending and then redeem your rewards in the most lucrative way possible. With rewards credit cards, that generally means redeeming as either statement credits or by depositing your rewards directly into your bank account. Be aware of your card's terms before you shop. Some grocery cards don't cover major retailers like Costco, Walmart or Target. The best credit cards for buying groceries will help you earn rewards without increasing your monthly spending. We don't recommend spending outside of your budget just to earn rewards. If you can't repay your bill in full each month, the interest you accrue can overshadow any rewards you've earned. Who should get a grocery credit card? Anyone who regularly buys items from a grocery store should consider a grocery credit card. Earning a return on spending is one of the best uses for a credit card, and a grocery credit card can go a long way toward lowering your monthly expenses. ✅Pros: Earn rewards for a purchase you frequently make. Redeem rewards to lower your overall card balance or deposit them directly into your bank account. Added security for your purchases. ❌Cons: Some cards may charge an annual fee. Rewards could lead to overspending. How to choose the best credit card for grocery shopping Deciding which grocery credit card is right for you will depend largely on your shopping habits. Before applying for a grocery credit card, you'll want to read the fine print to make sure that your needs will be met depending on where you shop. That also means choosing between co-branded credit cards like those offered by Costco or Walmart and general rewards credit cards that work at any supermarket. Rewards You'll want the reward rate to be high enough that you can generate a decent return based on your budget. Cash-back rewards are usually worth 1 cent per dollar spent (1% cash back equals 1 cent) and can be redeemed for statement credits or deposited directly into your bank account. The value of points could change depending on how they're redeemed, and you typically have more options including using them for gift cards, merchandise or travel. Annual fee If a card carries an annual fee, you'll need to be sure you get enough value through your normal spending to offset the expense and still earn rewards. With some credit cards, like the Blue Cash Preferred, which earns 6% cash back at U.S. supermarkets (on the first $6,000 per year, then 1%) and has a $95 annual fee ($0 intro annual fee for the first year) that's easy to do -- but it may not always be the case. Welcome bonus Try not to get enamored with a credit card's welcome bonus. While it can be appealing, it is typically a one-time reward. Because you need to purchase groceries frequently, you're better off focusing on maximizing these rewards over time rather than going for the up-front bonus. But if you can reach the bonus without overspending, it's a fruitful extra feature. Eligibility A card that requires "good" or "excellent" credit will offer better rewards and perks. If your credit isn't high enough to qualify for the card you're most interested in, consider working to build your credit score via an secured credit card or a credit card for people with limited credit. Other benefits Reward credit cards typically come with card perks like purchase protection, discounts with specific merchants, virtual credit cards for secure online shopping and more. While these may not always translate directly to improving your grocery shopping, they could help otherwise. How to maximize your credit card rewards while grocery shopping Getting the most from your grocery shopping comes down to using your card with a grocery store that's eligible to earn rewards and then redeeming them in the most lucrative way. The best way to redeem grocery rewards is generally as statement credits or depositing them into your bank account. FAQs Can you buy groceries online with a credit card? Yes, you can purchase groceries online via a grocery delivery app like Instacart or sometimes through the grocery store's website. Some credit cards offer complimentary InstaCart Plus membership.
CNET
13-05-2025
- Automotive
- CNET
Filling Up or Charging Your Car Without a Credit Card? You're Missing Out on Rewards
Eugene Mymrin / Getty Images If you drive, regardless of whether you're behind the wheel of an electric car or a gas car, you know it can get expensive to fuel your vehicle. Whenever I'm at the pump, I reach for my Blue Cash Preferred® Card from American Express. Its rewards at U.S. gas stations help to offset the monthly expense of filling my tank. If you're looking for a card that rewards you for having an EV, you'll want to compare options that offer cash back or points for EV charging and other "green" purchases. For rates and fees of the Blue Cash Preferred Card from American Express, click here. Who should get a gas or EV credit card? Unless you can take advantage of other higher rewards categories, a gas or EV credit card may not make sense for your wallet if you work from home or don't drive much. But a card may suit your budget if you spend a lot of time behind the wheel. Gas credit cards Gas station-specific credit cards can help you earn rewards at the pump. In most cases, you can enhance the impact by using a credit card that offers rewards on gas station purchases with a gas station loyalty program. Gas station loyalty programs offer points for purchases that can then be used for merchandise or discounted gas. Some programs let you connect an existing debit or credit card with an account to earn rewards. However, gas credit cards are typically more rewarding and flexible. The best gas credit cards also offer bonus rewards on EV charging. EV credit cards A credit card for EV charging is just like any other credit card, but it offers benefits for EV-related purchases. For the most part, these benefits come in the form of cash-back or rewards points for EV charging bills, which can add up over the course of a year. Credit cards for EV charging let users earn rewards when they charge their cars on the road or at home. Cardholders who want to take advantage can pay for EV charging stations and their home electric bill with their credit cards. Whether you use a credit card for gas or EV charging, or both, it's important to pay credit card balances in full to avoid interest charges. Read more: Is EV Charging Cheaper Than Buying Gas? We Did the Math Pros and cons of credit cards for gas or EV charging ✅Pros: You'll earn rewards for everyday transit spending. Most cards offer additional benefits and perks. Many credit cards that let you earn rewards on gas or EV charging also offer perks like travel insurance or cellphone insurance. ❌Cons: Credit cards that earn rewards often require good or excellent credit (a 670 FICO score or above). Can be a hassle to keep track of cards that have rewards caps or changing categories. Loyalty credit cards that offer fuel discounts at warehouse club stores, like Costco, generally require a membership. How to choose the best credit card for fueling purchases There's a lot to consider when choosing a credit card. Consider these tips to find the right credit card for your needs. Assess your personal credit. The best credit cards require good or excellent credit. If your credit score isn't quite in the good credit range, but you want to earn rewards for EV or gas purchases, use these tips to help boost your score or look at credit cards for fair credit. Consider annual fees. With any rewards card, the annual fee can erode your earnings or exceed them. To decide if a credit card's annual fee is worth it, be sure that you can earn enough rewards through normal spending to at least cover the fee. Plenty of cards have no annual fee, though the cards that do often offer higher reward rates, larger welcome bonuses and better card perks. Compare cardholder benefits. Look at the benefits each card offers and decide which ones are most helpful for you. These could include 0% intro APR offers for purchases or balance transfers, travel insurance benefits, cellphone insurance and more. Look closely at rewards rates. Credit cards that offer better-than-average reward rates on EV charging or gas purchases may also have other bonus categories, so check out which aligns best with your current spending habits. There are also flat-rate rewards credit cards that offer the same cash-back rewards rate on purchases, which could be attractive if you don't want to bother tracking rewards categories. Select the type of rewards you want to earn. Finally, make sure you're earning rewards you can use. Investigate rewards programs to confirm you like the redemption options available with different cards. How can I save money by using a credit card? With a gas or EV charging credit card, you earn rewards every time you swipe to refuel or recharge. Your rewards will then show up in your account and then typically can be redeemed for statement credits to lower your overall balance. However, statement credits won't reduce your monthly minimum payment, and you're still responsible for paying off your balance on time and in full to avoid accruing interest. Some cards might allow you to redeem your rewards toward other purchases, like travel. In some cases, how you redeem will affect how much your points are worth. Generally, if you have a dedicated travel credit card, redeeming rewards for travel will be the most lucrative choice. Alternatives to gas or EV charging cards If you want to earn rewards for spending, but you don't necessarily want to prioritize rewards on fuel purchases, you can expand your search to the following: Cards that fall into each of these categories offer different types of rewards you can earn for spending, each with their own benefits and features. How to apply for a credit card Follow these steps to apply for a gas or EV credit card:
Yahoo
11-02-2025
- Business
- Yahoo
Get the most from your cards: How credit card protections work
If you're disciplined with your credit card use, your cards can be valuable tools. By using a credit card, you can forgo the hassle of carrying cash and even earn valuable rewards to redeem for gift cards, statement credits, airline miles, or travel. However, credit cards have other benefits than just rewards; many cards come with added protections and benefits that can give you even more value. Learning how credit card protections work — and which cards have the best perks — can help you use your card to its full potential. Credit cards are common; most U.S. adults have at least one credit card. However, people don't always understand all their credit cards have to offer and may be missing out on useful benefits. These are some of the most commonly available credit card protections: Purchase protection covers your new purchases for a specific period, such as 120 days from the date you bought them. If the purchase is damaged, stolen, or stops working during that period, your card issuer will reimburse you for the item's purchase price. There's typically a cap per incident and per account; for example, the card issuer may only reimburse you up to $500 per claim and up to $50,000 per account. With extended warranty protection, the manufacturer's warranty on eligible items is lengthened. Usually, credit cards that offer extended warranty protection will increase the warranty by one year. If your item needs to be repaired or replaced, this benefit can help you save money by allowing you to use the warranty longer. Extended warranty protection is usually a secondary benefit, meaning it kicks in only after you've exhausted your other warranties or insurance. If your credit card provides return protection, this benefit allows you to get a refund of an item's purchase price if the retailer doesn't accept the return within a certain period, such as 90 days from the transaction date. For example, those who have the American Express Blue Cash Preferred card can qualify for a refund of the full purchase price — minus shipping and handling costs — up to $300 per item and up to $1,000 per calendar year. Zero liability protection ensures you're not responsible for unauthorized or fraudulent transactions made to your credit card account. If your information is stolen, zero liability protection keeps you from experiencing any financial losses. Dispute resolution is a benefit that helps you resolve issues with retailers or merchants. For example, if you receive an order that's defective or not as described, you can dispute the charge with your credit card company, and the company will investigate the dispute. You'll get a full refund if the company rules in your favor. Besides basic purchase protections, many credit cards include other perks for travel or shopping. These are some other common card benefits: Baggage loss or delay insurance can lessen the inconvenience of not having your luggage on your trip. With this benefit, the credit card issuer will reimburse you up to a certain amount to pay for toiletries, clothing, or other essentials while you wait for your bags. For example, Southwest Rapid Rewards Plus cardholders can receive up to $100 per day for up to three days if their luggage is delayed by six hours or more. And, if your luggage is lost or damaged, you can qualify for up to $3,000 in reimbursement. When you rent a car, you may need to purchase a rental car policy at the counter to protect yourself. However, some cards offer car rental collision damage waiver protection, a benefit that protects you against damages or theft that occurs to the rental car. To take advantage of this perk, you have to decline the offer of rental car insurance from the rental company and use your card to pay for the entire cost. Credit card-provided coverage is usually secondary, meaning you have to use your primary or car insurance first before the credit card will cover the claim. You also need to check any exclusions that may apply; credit card companies often exclude certain types of vehicles, such as luxury cars or commercial vehicles. You may be eligible for cell phone insurance if you pay your phone bill with your credit card. This insurance protects you against damage or theft up to a certain amount per year. For example, those withUsing a credit card an American Express Platinum card can get reimbursed for up to $800 per claim for repairs or replacement costs, up to a maximum of two approved claims per 12-month period. Coverage does involve a deductible; with the Amex Platinum card, the deductible is $50. (Eligibility and benefit level varies by card. Terms, conditions, and limitations apply. Please visit for more details. Underwritten by Amex Assurance Company.) If you book your trip with your credit card, some cards will automatically apply travel insurance to your plan. If your trip is interrupted or canceled because of an eligible reason, such as extreme weather or a death in the family, your credit card will reimburse you for your nonrefundable expenses. Now that you know what common benefits and protections are available, you're prepared to maximize your card's usefulness (or shop for a new card with more perks). To take advantage of your credit card protections, follow these steps: Choose a card carefully: Credit cards may not offer all the protections and benefits described above; card perks vary by issuer and card. If there is a certain perk you're looking for in a new credit card, read the card's terms and conditions to find out if it's available. Review the card agreement: Make sure you understand your card's fine print. You can view your cardmember agreement and the details for any benefits through your card's online portal or by looking up your card's disclosures at Contact the benefits administrator: To get reimbursed under protections like return protection or purchase protection, contact your card's benefits administrator; you can view their contact information in your cardmember agreement. When you call, the administrator will ask you some questions and, based on the information you provide, send you the necessary claim forms. Fill out a claim form: Next, fill out the claim form. You'll have to provide details on the purchase type, what happened, and the date any issues occurred. Submit supporting documentation: You may need to submit supporting documents, such as your original receipt, a copy of a repair estimate, or a police report. Once the claim is submitted, the credit card company will review it and make a decision. The benefits administrator can give you an idea of timing and when to expect a decision and reimbursement. This article was edited by Rebecca McCracken Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
