How To Get More From Your Credit Card

If you already use a credit card you'll know the basic benefits to you pocket (and

, doubtless, some of the downsides) already but there's always room for improvement.

Whether you're a seasoned pro or new to the world of personal finance here are three ways to get more from your credit card that you may not have heard of.

These certainly aren't the first things you should look for when you do a credit card comparison so I've also included particular situations when you should take care to look out for them.

First, if you've got a big electrical purchase coming up at the same time as you're looking for a new credit card, keep an eye out for those that offer an extended warranty when you use them to pay.

Most electric or gas powered household items such as computers, lawn movers, microwaves and ovens already come with a twelve month warranty so this just covers you for another year.

However, there are some exclusions. For example, the Nationwide Gold credit card doesn't cover computers in its cover.

Also make sure that you aren't covering yourself twice by seeking out an extra policy for an item covered by your home insurance.

Second, look out for travel insurance. This tends to be a service offered by many of the larger banks that also provide credit cards, since they're just outsourcing from another part of the company.

Buying travel tickets on a credit card can entitle you to single trip insurance for groups of up to five people on some policies but check whether you're entitled to travel insurance or just travel accident insurance (much weaker protection).

Third, look out for contact less payment facilities.

These futuristic technologies embedded in a credit card include Visa PayWave and allow you to pay for things under 15 (under 10 up until recently) with just a wave of your card, sort of like the London Oystercard scheme.

In fact, the Oystercard similarity doesn't end there as some of these credit cards have teamed up with transport in London to offer travel discounts in the past.

Although these were at first limited to credit cards suitable for spending they've now been seeping into 0% balance transfer credit cards as well so be careful before you spend to avoid excess interest charges being levied to you.

When it comes to new technologies security is always a concern but in the case of contact less there hasn't been a single case of recorded fraud using this technology according to industry experts.

by: Julia Cook

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