Optional credit card services

Credit card companies today are presenting a range of optional services along with their credit card. Most consumers do not want to spend extra money on optional credit card services; it is good to know more about these additional services. I think everyone can agree that finding a card with no monthly fees or maintenance costs is a great deal, but there may be times when you may even wish to add some of these optional services onto your card.

Credit Insurance

By purchasing credit insurance the credit card company will make your payments for you while you are incapacitated. The monthly fee is generally very small. The credit card company calculates the cost of the credit insurance based upon your card balance. Of course the higher your balance, the higher the monthly cost.

Credit card insurance is designed to help you in circumstances that make it impossible for you to make your minimum payments. It could be from a loss of your current job, or you become ill and hospitalized. For anyone who carries a high balance on your credit card, this may be a good option to look into purchasing. Be sure to look over all the terms and conditions prior to purchasing this coverage.

Fee Paying Credit Cards

There are many people who want to pay a monthly fee for their credit card. Many different credit card companies will offer a lower interest rate, or optional benefits, or a combination of both in exchange for a monthly fee. Why would you want to pay a monthly fee for something like this?

For those folks who carry a balance and pay a high interest rate, a fee based credit card that offers a lower interest rate can be very appealing. It can save you a lot of money over the course of time. It can certainly save you much more money than the cost of the monthly or annual fee. Another reason is that often times a credit card company will offer a higher maximum spending limit with fee-paying cards. This may be something that is important to you.

In many cases a fee-paying credit card can give you much needed assistance in times of trouble. For example, if you lose your credit card, most credit card companies simply offer a special number to call and you eventually are sent a new card. Many of the fee-paying credit cards will provide you with a new card in less than 48 hours. Some will even provide a way for you to get cash until the new card arrives. This peace of mind can be priceless in times of trouble like this.

While not everyone may want to opt for the various optional services a credit card company offers, they do have their advantages and it is something everyone should look at. In the end though, it all simply comes down to a matter of personal choice.

Credit card insurance programs

It is highly recommended that you review the insurance terms of your credit card agreement as in certain circumstances the credit card insurance offered by your card issuer may cover situation beyond those you may originally have thought. The major credit card insurance programs offered include: Purchase Protection If you purchase a product on your credit card that is later damaged. Not only is this a useful protection to have if you purchase expensive or fragile products. Can also be a very good additional insurance to any home contents insurance policy you have.

Stolen Card Protection Provided you report your card stolen at the first opportunity you have once you have become aware of your card’s theft. Basically this policy will reimburse you the difference between the price you paid for a product and the cheaper price of the same product you later found elsewhere. Travel Insurance If you purchase your holiday on your credit card there are two useful beneficial insurances you should check to see if you have. The first is a cancellation policy. The second is holiday accident insurance.

Car insurance or credit insurance

Most people will be familiar with insurance in some form or another. We all have taken out home insurance, car insurance or credit insurance among others. Insurance contracts are long and complex documents with a lot of small print.