What types of insurance come with a credit card?
Posted June 11th, 2010Get To Know Your Credit Card’s Insurance Freebies
Credit Card with Complimentary Travel Insurance
The Citibank Clear Platinum is one of the most competitive Platinum credit card offers. It’s low interest rate o purchases, balance transfers, and low annual fee make it a very unique platinum card.
- $99 annual fee
- 11.99% p.a. on purchases
- 2.9% p.a. for 12 months on balance transfers
- Cash Advance Rate of 21.74% p.a.
- 55 days interest free
- Minimum Income Requirement of $35,000 p.a.
- Includes complimentary international travel insurance
If free insurance is not one of the benefits of your credit card then you might want to look into getting a better card. Nearly all Australian Gold and Platinum cards as well as some standard cards offer a variety of insurances that are quite useful. Of course, with any credit card benefit you have to understand how to use it and use it correctly to get the most out of it. There are four standard credit card insurances that you should make sure your card offers, understand, and use to their fullest potential.
Standard Credit Card Insurances
Travel Insurance - Travel insurance for overseas or domestic travel is usually offered for free. Some cards only offer it on international travel, so double check before you attempt to use yours. This insurance usually covers you for cancellations, missed connections, lost luggage, medical expenses when abroad, lost documents, accidental disability or death. They will even cover you for serious events like hijacking, kidnapping and ransom. In most cases you will have had to book all or a large portion of your travel and accommodations with the credit card in order to earn the benefit.
Purchase Protection – Should an item you bought with your card be damaged, lost, or stolen these credit card insurances cover the item. The coverage lasts anywhere from three to six months and usually consists of replacement or repair of the item. To be sure of your rights read the terms and conditions of your credit card policy before you make a claim.
Extended Warranty - One of the biggest frustrations people face is having big ticket items like appliances break down immediately after the manufacturers warranty expires. That is why this coverage is becoming more popular in Australia because it offers up to one more year of warranty coverage on certain items. You will have to purchase the full amount of the item with your credit card in order to qualify for this coverage.
Lost Card Coverage - This is a specialised cover that is more for convenience then anything else. It gives customers a confidential service to register all of their credit and debit cards. Then if their wallet is stolen or lost they only have to make one phone call and all of their cards will be cancelled by the lost card service.
Credit card benefits hold a great deal of value. If your card does not offer these services or if you are not using them then you are not getting your money’s worth from your credit card. There is far too much competition between cards to settle for anything less then top notch service and free insurances.
Check out today's featured offers:
| Citibank Clear Platinum | Qantas AMEX Discovery | ANZ Platinum | Westpac Low Rate |
 |
 |
 |
 |
2.9% p.a. for 12 months |
$0 annual fee Up to 10,000 Bonus QFF Points |
0% p.a. for 6 months on purchases & balance transfers |
0% p.a. for 6 months on purchases & balance transfers |
|
|
|
|
Subscribe to our newsletter and get "The Ultimate Guide to Balance Transfers"
If You Like This Post...
Get all the latest deals, guides and loopholes go in Credit Card Finder's free bi-monthly email. Don't miss out - join the thousands who get it emailed!
Ask A Question