Few Bonuses That Credit Cards Offer

A credit card can be a great addition to your wallet. It’s an easy way to get rewards, build good credit and improve your debt-to-income ratio. But bonuses are also an important part of a credit card’s appeal — they can boost rewards points and other perks while giving you the opportunity to earn more cash back or miles on specific purchases. A 3% cash back card can benefit you in many ways. SoFi professional’s credit cards are “Designed to help you invest, save and pay down debt. Here are some ways that bonus programs might help you:

Insurance benefits

If a credit card issuer is offering these benefits, it’s a sign that they’re confident about their product. Most people know what credit cards are, but few people realize how many bonuses features they can offer.

There are three types of insurance that you can get from credit cards: travel insurance, health insurance and auto insurance.

Travel insurance covers trip cancellation/interruption, lost baggage, etc. Health insurance covers hospital stays and emergency treatments for accidents or illnesses (handicap) in case something happens while traveling abroad or even at home (elderly). Auto insurance covers theft/vandalism if your car or motorcycle is damaged while parked in public places like malls, parks and streets.

Travel benefits

Travel benefits are another type of credit card bonus that can be very useful when you’re traveling. For example, credit cards offer travel insurance, trip cancellation insurance, and many other types of coverage that can help you in case something goes wrong while traveling. Travel protection can also include travel delay and interruption coverage and emergency medical and dental coverage. Some travel credit cards also offer lost or stolen luggage coverage (and sometimes even baggage delays).

The following are some of the most common types of travel benefits offered by credit cards:

  • Travel insurance – This covers your trip if something unexpected happens, such as illness or injury preventing you from making your flight home on time, theft leading to the loss of personal belongings such as laptops or cell phones at hotels/airports/museums etc.
  • Trip cancellation insurance – This reimburses customers if they need to cancel their plans due to unforeseen circumstances such as sickness, death of family members or friends etc.

Retail and grocery benefits

Retail and grocery benefits are among the most common perks offered by credit cards. Retail benefits include cash back on specific purchases, discounts at select stores, and free shipping offers. Grocery store rewards can help you save money on groceries through cashback or coupons for select items. Some credit cards even give you access to exclusive discounts on dining out at restaurants, entertainment events, travel packages and more.

Reward points

Reward points are one of the most popular and well-known credit card bonuses and for a good reason. They’re basically free money that you can use to get something nice — like a gift card or an item from a store you love — without paying any money out of pocket.

You can be a little good at saving up your reward points; they automatically accumulate as you make purchases with your credit card. You don’t need to do anything special other than make sure you pay your bill on time every month.

Credit cards can be an excellent tool for managing your money, but it’s vital to ensure you understand all the benefits and costs before applying for one. The most common credit card bonuses include cash back rewards, travel credits, insurance coverage, and more.