• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar

National Debt Relief

National Debt Relief - A+ BBB Accredited Business - Get Relief From Credit Card Debt, Medical Bills And Unsecured Loans

Talk to a debt counselor toll free:

800-300-9550

Get Relief From Credit Card Debt

Medical Bills and Unsecured Loans

  • Services
    • Debt Settlement
    • Debt Relief Benefits
    • Qualifications
    • Is Debt Settlement Right For Me?
    • Debt Help By State
    • Debt Relief FAQs
      • How Debt Relief Affects Your Credit Score
    • Free Budget Planner Worksheets
    • Free Debt Calculator
  • Options
    • Debt Relief
    • Bankruptcy
    • Credit Card Debt
    • Debt Consolidation
  • About Us
    • Who Is National Debt Relief?
    • Accreditations
    • Proven Results – Debt Settlement Letters
  • Contact Us
    • Apply Now
    • Contact Us
  • Client Login
  • Careers
HomeBlog BlogHow Your Credit Cards Can Help You Save Money
Video Transcript

Free Debt Relief Quote

  • National Debt Relief, LLC BBB Business Review
  • McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

How Your Credit Cards Can Help You Save Money

September 21, 2012 by Paul Ritz

Tweet
Share
Pin
Share
+1
Stumble
Shares 0

Did you know that this year is the second one in the row where we consumers are expected to run up credit card debt of $50 billion? It’s pretty clear that all of us need to cut down our credit card spending. But here’s the surprise –credit cards could help you save money and cut down on your credit card debt.

Zero balance transfers

Here’s the first way this could work. Many credit card companies are actually now offering zero percent introductory interest rates and rewards bonuses of up to hundreds of dollars. These are usually called zero balance transfer rates. You could use one of these to get rid of your balances on the other credit cards and then pay no interest for a year or longer.

Supplemental rental car insurance

A second way that your credit cards can save you money is by helping you avoid really wasteful expenses such as extended warranties and supplemental car rental insurance. A study from Progressive Insurance showed that the supplemental insurance offered by rental companies is purchased by 40% of consumers either some time when they rent vehicles or all of the time. Since this can run anywhere from $10 to as much as $20 per day, the cost of these plans can add up fast. Another study showed extended warranty plans are purchased by 31% of the people each year. This represents a lot of lost value for consumers.

Let your credit cards take care of these risks

It’s probably not necessary for you to take supplemental car rental insurance or any extended warranties. All four of the major credit card networks have some type of extended warranty coverage and complementary car rental insurance. However, the quality of this coverage varies a lot from network to network. Visa has the best supplementary car rental insurance coverage while the maximum extended warranty program comes from American Express. However, it’s important for you to understand that there are some differences between the networks’ programs. If you want to maximize how much you save, you need to understand what these are.

Rental car insurance

If you want to take advantage of rental car accident insurance as offered by your credit card, you must pay the entire cost of the rental with your card. This means you must turn down any supplemental policy the rental company offers you. Beyond this, there are five factors that determine if you will be covered. This includes the type of card you have, the kind of vehicle you rent, where you rent the car, the type of road on which you had the accident and the damage incurred.

Extended warranties

All four of the credit card networks will extend an existing manufacturer’s warranty for up to one year. However, this does not mean that everything you purchase will be covered. This will depend on several factors, including your card and what you buy. For example, none of the four networks will cover computer software, plants, buildings, motorized vehicles, etc. And only American Express will cover items you purchase that have been refurbished but still have with the original manufacturer’s warranties.

Other factors

Another important factor is the length of the original warranty. For example, Visa and Discover cover warranties that are three years or less, while MasterCard covers only purchases with warranties of one year or less. American Express covers items you purchase that have a maximum warranty of five years. Your coverage will also depend on how the item is damaged. If you have a product that was damaged as the result of a power surge, Discover, MasterCard and American Express will not cover it. Discover and MasterCard exclude what’s called “normal wear and tear.” This can be somewhat confusing. And MasterCard won’t cover physical damage done to an item or if lack of maintenance caused a mechanical failure.

This all means it’s important to check out what your credit cards do and do not cover when it comes to rental care insurance and complementary extended warranties. However, all told you’ll probably find they include coverages that could save you hundreds of dollars a year.

Tweet
Share
Pin
Share
+1
Stumble
Shares 0

Do you qualify for debt consolidation?

Filed Under: Blog Tagged With: credit cards, debt consolidation loan, How Your Credit Cards Can Help You Save Money, zero balance transfer

Primary Sidebar

Trustpilot

Free Debt Relief Quote

By submitting, you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls or text/SMS messages). Msg. and data rates apply. You are not required to opt in as a condition of purchase.

The sooner you call,
the sooner we can help:

800-300-9550

Recent Posts

  • How to Stop Energy Vampires and Save Money on Electricity
  • 5 Easy Steps To Help You Restore Your Credit Score
  • The Most Common Mistakes With Credit
  • Top 5 Money Mistakes People Make With Their Tax Returns
  • How to Get a Good Credit Score (and Keep it!)
  • The 9 Best Free Budgeting Apps To Help You
  • Top 3 Bankruptcy Articles of 2017 by National Debt Relief
  • Spring Into Cash With These Creative Savings Tips
  • Top 10 Credit Card Consolidation Articles of 2017 by National Debt Relief
  • How Our Clients Were Able To Get Out Of Debt – You Can Too

 

FAQs about debt relief

AFCC disclosure

Top Ten Reviews - Gold
National Debt Relief, LLC BBB Business Review AFCC Top Ten Reviews Gold Top Consumer Reviews Trust Pilot
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms Of Site
  • Disclaimer
  • Sitemap

© 2018, National Debt Relief, All Rights Reserved.

Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes.
*Clients who are able to stay with the program and get all their debt settled realize approximate savings of 50% before fees, or 30% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.