Big Credit Card Perks Are Dying — Here’s How to Keep Them Going

Woman w credit card
Photo by puhhha / Shutterstock.com

Your next vacation could cost you more than you realize if you aren’t careful when paying for it.

Creditcards.com reports that credit card issuers continue to reduce or eliminate cardholder benefits, including those that can save travelers hundreds of dollars, if not more.

For example, a few months ago, Discover dropped five perks, including car rental insurance and flight accident protection. Just this month, Chase slashed the maximum amount of money it gives United MileagePlus Explorer cardholders in the event that a trip is canceled unexpectedly.

At same time, however, Chase also added new perks — including a $100 fee credit when signing up for TSA Precheck or Global Entry — for Explorer cardholders.

This means it’s especially important to review perks currently offered by your credit cards before you next take advantage of those benefits. It also means you should shop around to make sure your credit cards are still the best options for you.

Look out for new cardholder benefits

When you hear news of cardholder benefits changing — whether for the better or the worse — take it as a sign that it’s time to compare your credit cards with others that are available.

This is easy to do using a free online tool like Money Talks News’ credit card search tool. You can use the menu on the left to narrow your search to credit cards with particular features, ranging from travel rewards to no annual fee.

For example, I care about cash back above all, so I start by clicking on “Cash Back” on the left. Then, the tool shows me various information about credit cards that currently offer cash back so I can compare them and decide which works best for me.

This is no different than — and is just as important as — taking the time to compare your current car insurance rate with what other auto insurers would charge so you can be sure to pay as little for car insurance as possible.

If you fail to make sure you’re getting as much in cardholder benefits or credit card rewards as possible while paying as little interest as possible, you are likely losing money.

Beware of shrinking credit card benefits

Say you have a credit card that has offered free rental insurance in the past, so you assume it still offers that perk. Then, you use that card to pay for a rental car for your summer road trip and decline the insurance that the car rental company offers to you.

If it turns out that perk has been discontinued or reduced and you do not learn that until after you need to file a rental insurance claim, you could end up stuck paying for the damage yourself — which could easily cost hundreds of dollars or more.

To find out if any of your credit card benefits have changed, access your account online or ask customer service. There should be a phone number on the back of your card.

What’s your take on recent changes to cardholder benefits? Sound off below or on our Facebook page.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?
Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?

You could save more than $30,000 by setting aside these costly expenses for just one year.

10 Products That Upgrade Your Home for Less Than $45
10 Products That Upgrade Your Home for Less Than $45

Make a fresh start with these affordable Amazon buys.

10 Mistakes That Cost You Money at Warehouse Stores
10 Mistakes That Cost You Money at Warehouse Stores

Wholesale clubs might have great deals, but these mistakes will cost you.

9 Forgotten Frugal Strategies — and How to Resurrect Them
9 Forgotten Frugal Strategies — and How to Resurrect Them

These time-tested methods can help us live smarter today.

5 Renovations That Can Impact Your Home Insurance
5 Renovations That Can Impact Your Home Insurance

Home improvements can affect your home insurance policy for the better, the worse or both.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

11 Things Retirees Should Always Buy at Costco
11 Things Retirees Should Always Buy at Costco

This leader in bulk shopping is a great place to find discounts in the fixed-income years.

Over 50? The CDC Says You Need These 4 Vaccines
Over 50? The CDC Says You Need These 4 Vaccines

Fall is the time to schedule vaccines that can keep you healthy — and even save your life.

11 Senior Discounts for Anyone Age 55 or Older
11 Senior Discounts for Anyone Age 55 or Older

There is no need to wait until you’re 65 to take advantage of so-called “senior” discounts.

11 Household Items That Go Bad — or Become Dangerous
11 Household Items That Go Bad — or Become Dangerous

When you get the impulse to stockpile these everyday items, pay close attention to their expiration dates.

8 Things You Can Get for Free at Pharmacies
8 Things You Can Get for Free at Pharmacies

In this age of higher-priced drugs and complex health care systems, a trip to the pharmacy can spark worry. Freebies sure do help.

These Are the 4 Best Medicare Advantage Plans for 2020
These Are the 4 Best Medicare Advantage Plans for 2020

Medicare Advantage customers themselves rate these plans highest.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

The 10 Most Commonly Stolen Vehicles in America
The 10 Most Commonly Stolen Vehicles in America

A new model parks atop the list of vehicles that thieves love to pilfer.

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

5 Ways to Get Amazon Prime for Free
5 Ways to Get Amazon Prime for Free

Hesitant to drop $119 a year on an Amazon Prime membership? Here’s how to get it for free.

10 Reasons Why You Should Actually Retire at 62
10 Reasons Why You Should Actually Retire at 62

If you can, here are several good reasons to retire earlier than we’re told to.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

26 States That Do Not Tax Social Security Income
26 States That Do Not Tax Social Security Income

These states won’t tax any of your Social Security income — and in some cases, other types of retirement income.

14 Things That Are ‘Free’ With Medicare
14 Things That Are ‘Free’ With Medicare

These services could save you money and help prevent costly health problems.

5 Keys to Making Your Car Last for 200,000 Miles
5 Keys to Making Your Car Last for 200,000 Miles

Pushing your car to 200,000 miles — and beyond — can save you piles of cash. Here’s how to get there.

5 Things That Make Life More Meaningful for Retirees
5 Things That Make Life More Meaningful for Retirees

Retirees agree: These are the things that give them purpose and fulfillment in their golden years.

15 Amazon Purchases That We Are Loving Right Now
15 Amazon Purchases That We Are Loving Right Now

These practical products make everyday life a little easier.

10 Things You Should Never Do With Bleach
10 Things You Should Never Do With Bleach

Does the pandemic have you reaching for bleach more than ever before? Learn the ins and outs of using this powerful disinfectant.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.