Credit card perks - Is this true?!?!

submitted on July 20, 2009 by MrCheap in "Member's Lounge"

This video claims if I use my credit card I will automatically get complimentary:

1. trip cancellation insurance (between $1000-2000 per year)
2. car-rental insurance up (to $50,000 per collision)
3. extended warranty on electronic purchases - double of what manufacturer offers (up to an extra year)

http://www.youtube.com/watch?v=wulnL90azys

I can't believe this! Is this true?

Credit Cards Finance

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professor

Posted by busant20 on July 20, 2009 [reply] 0 0

Thanks MrCheap for the information. I believe it's really help me a lot.

teacher

Posted by phunkeey on July 21, 2009

[reply]

The car rental issue is true, depending on the credit card and terms of course. That's why buying the insurance they sell is such a rip off.

I've heard about the extended warranty, but I'd check with your credit card for details.

Don't know about the trip insurance.

apprentice

Posted by llocomotive on July 21, 2009

[reply]

I rented cars on my CC before, read your terms and conditions. It's most probably supplemental auto insurance. You would still need to have liability insurance (for which you will most probably be covered by your own auto insurance. GEICO provides it)

With supplemental auto insurance there is a deductible. You might want to find it how much $$ it is.

The Warranty coverage -- also used the one on American Express. They covered my laptop for an added 2 years. The laptop broke -- called them up -- they tried to get it fixed -- they were unable to -- got a refund for $900 ( the original price). Had to ship the broken laptop to them though

Not sure about the trip cancellation insurance - it is there - but it comes with a lot of FINE PRINT -- but again, these are provided STANDARD by MASTERCARD AND VISA (and not by your bank of CC provider).