Credit cards often have a bad reputation attached to them. Before investing in one, people usually think about interest rates, bill payments or debt. We have to consider how responsible we are at managing money as if you are not careful, you can easily incur debt.

However, we sometimes forget to factor in the unseen benefits of the credit card. Many cards not only offer their customers perks such as discounts or miles but also a way to protect the purchases they make using their cards. takes a look at ways your credit card helps you protect your purchases.

Purchase protection

We often come across the term purchase protection when looking for a credit card but not all of us realize how beneficial it can be. Purchase protection is a form of insurance your bank provides you against theft or damage of items purchased during a set period using your card. Therefore, the next time you lose an expensive phone or camera, your credit card can actually prove to be helpful by reimbursing you for your lost or stolen items.

However, be aware the coverage period and the amount covered you may vary depending on your selected bank and the card. Only specified instances may be covered as other situations such as mysterious disappearance may not covered under your purchase protection.

For example, Riyad Bank offers its Islamic Visa Platinum customers purchase protection and will cover eligible items for a period of 90 days. Instances which will be excluded from getting purchase protection include damage items caused by product defects or items stolen because they were left unattended.

Extended warranty

Credit cards offer perks such as extended warranties which entitle customers additional warranty periods beyond the manufactures warranty. This means, you won’t have to pay extra money to extend the warranty of an item so as long as you purchase the item with your card. It is a great way to save money on electronic items which come with basic warranty. However, make sure the item you are purchasing is eligible for an extended warranty.

Therefore, if you are looking to invest in a new credit card, check if the card offers these perks. You can save and protect your purchases but make sure your items are eligible to get these benefits. All the perks credit cards offer in Saudi Arabia.

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