Make the most of your credit card
When using your credit card, there are a few neat perks you should know about. If you’ve got a rewards card, it’s a great time to check what extras it offers, as the Reserve Bank’s crackdown on interchange fees may lead to providers slashing the value of their rewards.
You’ll find that many gold or platinum cards come with purchase-protection insurance, which covers your items against theft and damages for a limited time. Others offer price-protection insurance, which entitles you to a refund if you find an item you’ve purchased on your card at a lower price. You might also be able to take advantage of complimentary travel insurance, but first check the extent of the coverage and terms and conditions.
Cash in your points
Some schemes apply to certain retailers. American Express has a partnership with David Jones, the Commonwealth Bank with Myer, and some have partnerships with Flight Centre and Webjet. Redeeming your rewards for flight upgrades, theatre bookings and even charity donations and fee discounts on your credit card or home loan is usually fairly flexible.
Buy now, pay later
Some cards offer a 0% introductory rate, so get your big-ticket items in before it expires but find out what the revert rate is and when it comes into effect. Some American Express cards offer a “Fashion Pay Later” facility to allow you to defer payment on a single transaction over $250 at David Jones for three months.