The 9 credit card perks you forgot (or didn’t know) you had

Ceyda Erem   |   17 Nov 2017

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In a world fixated by innovation, credit cards were never meant to be just a piece of plastic that collects dust in the back of your wallet. And while your mind may jump to cashback rewards and frequent flyer points when you hear the word ‘perk’, they are not the only freebies your credit card provides. Now as you pick up the jaw you just dropped, here are 9 common credit card perks you need to be taking advantage of.

Fancy yourself a new credit card before we start? Our credit card comparison tool compares over 214 credit cards to help you find your wallet’s new best friend. Or, if you can't wait to get to the good stuff, have a quick skim of these 5 rewards cards down below. 

Rewards credit cards - rates updated daily

  • Woolworths Everyday Platinum Credit Card

    10% off your 1st Woolworths shop on selected dates once a month. No annual fee for the first year.

    Woolworths Shopping Cards

    $49 $0 in the first year

    No current offer

    1 point uncapped

    • -

    • 19.99% p.a.

    • 0% p.a. for 14 months and then 21.99% p.a.

    • 21.99% p.a.

    • 55

    • 3.00%

    • $35.00

    • 1 point per dollar on Visa, uncapped

    • Never

    • No current offer

    • -

    • -

    • 20,000 points

    • • Concierge

      • Purchase Protection

    Details Close

  • American Express Explorer® Credit Card

    Receive 50,000 Membership Rewards® Points (T&Cs apply). Also receive $400 Travel Credit each year.

    Membership Rewards

    $395

    50,000

    2 points uncapped

    • -

    • 20.74% p.a.

    • 0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

    • 55

    • 3.00%

    • $30.00

    • 2 points per dollar on Amex, uncapped

    • Never

    • 50,000

    • 10,400 points

    • 159,467 points

    • 13,500 points

    • • Travel Insurance

      • Extended Warranty

      • Purchase Protection

      • Account alerts by SMS

    Details Close

  • ANZ Rewards Platinum

    75,000 Rewards Points when you spend $5,000 on eligible purchases in the first 3 months. Eligibility criteria, T&Cs, fees and charges apply.

    ANZ Rewards

    $95

    75,000

    1.5 points up to $2,000/month, then
    0.5 points uncapped

    • -

    • 18.79% p.a.

    • No current offer

    • 20.99% p.a.

    • 55

    • 3.00%

    • $20.00

    • 1.5 points per dollar on Visa, up to $2,000 per month, then
      0.5 points per dollar on Visa, uncapped

    • 36 months

    • 75,000

    • 15,600 points

    • 239,200 points

    • 22,225 points

    • • Concierge

      • Travel Insurance

      • Commission-free Travellers Cheques

      • Extended Warranty

      • Purchase Protection

      • Rental Car Excess Cover

      • Guaranteed Pricing

    Details Close

  • American Express Velocity Escape Card

    No Annual Fees and receive 0% p.a. on balance transfers for the first 12 months

    Velocity Frequent Flyer

    $0

    No current offer

    1 point uncapped

    • -

    • 20.74% p.a.

    • 0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

    • 55

    • 3.00%

    • $30.00

    • 1 point per dollar on Amex, uncapped

    • Never

    • No current offer

    • 7,800 points

    • 119,600 points

    • 19,500 points

    • • Purchase Protection

      • Account alerts by SMS

    Details Close

  • Apply By 31 October 2018

    Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate and Balance Transfer Offer

    Receive a $129 Virgin Australia gift voucher each year. 0% p.a. on purchases for up to 14 months.

    Velocity Frequent Flyer

    $129

    No current offer

    0.66 points up to $1,500/month, then
    0.5 points uncapped

    • 0% p.a. for 14 months

    • 20.74% p.a.

    • 0% p.a. for 6 months and then 20.99% p.a.

    • 20.99% p.a.

    • 44

    • 3.30%

    • $10.00

    • 0.66 points per dollar on Visa, up to $1,500 per month, then
      0.5 points per dollar on Visa, uncapped

    • Never

    • No current offer

    • 7,800 points

    • 119,600 points

    • 19,500 points

    • • Concierge

      • Guaranteed Pricing

    Details Close

Travel insurance and travel extras 

Many credit card providers offer complimentary travel insurance to customers that not only covers you, but your spouse and two children, granted they are still under 22. Typically, you can expect cover for medical expenses, lost luggage, cancellation fees, travel delays and more with your credit card’s travel insurance.

But that’s not all, travel addicts. Depending on your rewards card, you may also have access to a free domestic flight each year, plus airline lounge access and chauffeur driven airport travel.

Rental car excess cover 

Did you know that your credit card could even have your back when you’re in the driver's seat of a rental car? Credit card travel insurance cover generally includes rental car excess cover when you rent a car domestically or overseas. This means that you don’t have to take this out with the car rental company directly (and pay that extra $30 a day to reduce your excess from $4000 to $500 if you damage the car in an accident).

The amount of excess cover will vary between credit card providers though, so be sure you check your cover with your bank first before you decline the rental car insurance and make sure you’ve met the minimum activation requirements for the travel insurance cover to be valid.

VIP access to entertainment events 

Love a good show? Depending on the type of card you own, you may have exclusive pre-sale ticket access entertainment and sporting events. And with platforms like Visa Entertainment, Mastercard Moments and AMEX Invites, you can also enter competitions with major entertainment brands.

Purchase protection insurance 

Purchase protection insurance is also a standard feature on many rewards cards. This means, if an item you purchase with the card is stolen or accidentally lost or damaged, your credit card provider will cover the cost of the item. However, there are a few conditions with this perk. For instance, you may need to make the claim within 30 days of the incident and in order for your claim to eligible, the item should have been purchased within the last 90 days.

Extended warranty 

Taking protection one step further, your card may also offer an extended warranty (generally an extra 12 months) on appliances purchased with your plastic.

Price protection 

If your biggest pet peeve is seeing an item you just purchased for a cheaper price at a different store, you’re in luck because there’s a good chance your credit card offers price protection! This perk allows you to be reimbursed the difference between the price you paid and the lower price you’ve seen advertised elsewhere. Keep in mind though that there may be a minimum and maximum price difference you are able to claim, for instance, between $75 to $500 - also, the claim must be made within 21 - 60 days.  

Private online stores 

While you do have the option to earn and use your points for regular in-store purchases, Qantas and Virgin cardholders can use their points to do some private retail therapy at the Qantas or Virgin Frequent Flyer Store. You’ll be able to shop for anything from fashion and lifestyle to technology and home decor.

Concierge service

Think of this as the personal assistant you wish you had. Depending on your provider, a concierge service can provide assistance with hotel recommendations, dinner reservations, finding the perfect personal trainer and more! All you need to do is call the 24x7 service line.

'Lock', block and cap features 

Budgeting and online banking have never been easier with additional banking features available on selected credit cards. Some providers allow you to ‘lock’ international online and in-store payments if you aren’t planning on shopping internationally. You can also set a spending cap to stay on top your budget as well as block cash advances if you want to avoid withdrawing cash with your card.

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