Four Credit Card Perks to Not Overlook
In the face of escalating costs due to tariffs and trade tensions, credit cards can offer more than just cashback, points, or miles. These financial tools can provide valuable benefits not directly tied to rewards, helping to offset rising costs in certain categories.
For instance, some credit cards offer statement credits and annual credits that offset travel expenses, dining, streaming subscriptions, and ride-share services. The Chase Sapphire Reserve and AmEx Platinum, for example, provide large point bonuses and valuable credits for travel, dining, Uber, and entertainment. These deals often come with spending requirements within a few months and substantial annual credits that can offset fees.
Travel perks are another area where credit cards shine. Cards like the American Express Platinum, Capital One Venture X, and United Club offer trip delay insurance. This insurance can cover up to $500 per passenger, per night, regardless of the reasons for the interruption, as long as the flight is charged to an eligible card. Some cards also provide waived foreign transaction fees, complimentary trip insurance, savings on checked bags, airport lounge access, and credits that directly reduce travel costs.
In the context of products and services most susceptible to rising prices amid evolving trade wars, using credit cards with targeted credits or perks can help mitigate the impact of escalating costs. Cards like the Chase Sapphire and Sapphire Reserve, for example, cover flights, even if they were paid for using miles earned through Chase's rewards program.
Certain Visa cards offer free or discounted international data plans through services like GigSky. This can reduce communication costs when traveling abroad. Visa Infinite cardholders can enjoy a complimentary 15-day, 3GB data plan yearly and 30% off all plan purchases from GigSky. GigSky provides international data services and works in more than 175 countries.
Beyond travel and data, some cards may have partnerships or promotions targeting products and services prone to price increases due to tariffs, providing temporary savings on those categories. For example, holders of certain Visa credit cards can take advantage of these international data and trip delay insurance benefits.
Lastly, certain credit cards provide insurance for a lost or damaged cell phone if the wireless bill is paid with the card. Coverage excludes cosmetic damage and typically comes with a $50 deductible. American Express, Chase, Capital One, and Wells Fargo are among the credit card providers offering cell phone insurance.
To find deals on credit cards, monitor current sign-up bonuses and special offers from major issuers. To maximize value, look for cards with large sign-up bonuses and generous annual credits in categories affected by tariffs, check your current cards for ancillary benefits like travel protections and service credits, use cards that provide perks for overseas data and roaming to save on often overlooked fees, and keep an eye on updated monthly lists of best credit card offers to catch timely deals.
- By utilizing credit cards like the Chase Sapphire or Sapphire Reserve, which cover flights even if paid with miles, you can indirectly save on travel expenses that might increase due to tariffs and trade tensions.
- Certain credit cards, such as those offering free or discounted international data plans, can help reduce communication costs when traveling abroad, thus providing savings on a product susceptible to fluctuating prices due to evolving trade wars.
