MILLENNIAL MONEY: UNLOCK SAVINGS WITH CREDIT CARD BENEFITS

A few days after buying a sweater at Macy’s, Erin Chisman returned to get the same one in a different color, only to realize it was 50% off. Upon seeing the new price tag, the Wisconsin-based business owner was determined to save.

So she turned to the cards in her wallet. “I looked at my terms and I noticed that it did have price protection,” she says. “Within three days, I had a check in the mail” for the $30 difference.

Price protection, a benefit that refunds the difference of a lower advertised price, has largely vanished from many credit cards in recent years — but plenty of other side perks remain, and your card may even have added some new ones. Here’s what to know about these benefits so you don’t miss out.

BENEFITS ARE NOT ALL CREATED EQUAL

If you don’t know all the perks your card offers, you’re not alone. Only 36% of cardholders reported fully understanding their supplementary benefits, according to J.D. Power’s 2019 Credit Card Satisfaction Study.

It can be hard to keep track because offerings vary widely, depending on both the credit card’s issuing bank (American Express, Chase, Citi, etc.) and, often, the payment network on which it runs ( Visa, Mastercard, AmEx or Discover).

But if you spend some time with your card’s terms and conditions — or with a customer service rep online or by phone — you can learn your card’s benefits and how they can help. Consider some of these examples and the potential savings they offer.

CELL PHONE PROTECTION