Damage & Loss Protection

Credit cards often give your purchases extra protection if you purchase them with a credit card. Credit cards often have loss or damage insurance. This means that if you purchase something with a credit card and it doesn’t work correctly or accidentally gets lost within a certain period of time after the purchase, you can get your money back. This would not be the case if you purchased the same product or service with cash or a check.

Recently this perk has become quite advantageous when purchasing airline tickets. With a number of airlines on the brink of bankruptcy, credit cards that provide this purchase protection are an added safety net in case the airline goes bankrupt and refuses to honor the ticket you purchased.

This service also provides an additional safety net when you purchase a high priced item. With this coverage you know that even if the item doesn’t work and the store won’t make the needed remedies, you still have another avenue of recourse.

To find out exactly what damage and loss protection your credit card offers, you must look at the specific terms. These can vary from credit card to credit card with some not offering these services at all, but many credit cards offer these protective coverages for a month or more after purchase with a credit card.

Leave a Reply

Your email address will not be published. Required fields are marked *