For many Canadians, credit cards are just a tool for everyday spending and rewards points. But what often goes unnoticed is the long list of hidden perks that can unlock real value, and in some cases, save hundreds or even thousands each year. Here are 22 credit card perks most Canadians aren’t using:
Free Extended Warranty Coverage
Most Canadians are unaware that their credit card can double a manufacturer’s warranty, sometimes by up to an extra year. This perk applies to electronics, appliances, and other major purchases, offering peace of mind without the need to buy pricey store warranties. This is essentially free protection that can save hundreds if something breaks, and yet, many people never bother to register or claim. Knowing the process, keeping receipts and using the card for the purchase turns this often-overlooked perk into a powerful way to safeguard investments.
Travel Medical Insurance
Some premium cards include travel medical insurance, covering emergencies abroad that could otherwise cost tens of thousands. This benefit typically covers doctor visits, hospital stays, and even medical evacuation. Many Canadians pay separately for travel insurance without realizing they already have it bundled into their card. While limits and exclusions apply, a quick read of your cardholder agreement can help avoid double-paying. For frequent travelers, this perk is convenient, and it can be a literal lifesaver in emergencies, especially when trips are spontaneous.
Rental Car Collision Coverage
Instead of paying daily rental car insurance fees, many credit cards provide free collision damage waiver coverage. This can save Canadians anywhere from $15-$30 per day, which quickly adds up on longer trips. The coverage usually applies when you decline the rental agency’s insurance and pay with your card, yet countless drivers still buy duplicate coverage out of caution. By understanding what’s already included, cardholders can enjoy the peace of mind of full coverage while keeping more money in their pockets.
Airport Lounge Access
Airport lounge access feels like an exclusive luxury, but many credit cards quietly include it as a benefit. This perk provides access to comfortable seating, complimentary food and drinks, Wi-Fi, and sometimes even showers or nap pods. The average cost of lounge passes can run $40-$70 per visit, so this perk is incredibly valuable for frequent travelers. Unfortunately, many Canadians never claim it, waiting in crowded terminals instead. Checking your card benefits could transform stressful travel days into relaxing, money-saving experiences.
Mobile Device Insurance
Replacing or repairing a damaged phone can be costly, but some credit cards offer built-in mobile device insurance. If you purchase your smartphone on the card or pay monthly bills with it, you may qualify for coverage against theft, damage, or even mechanical breakdown. With modern smartphones often costing over $1,000, this benefit can easily save hundreds. Yet, many Canadians still pay for third-party protection plans without realizing their card already provides similar safeguards, while reading the fine print could help eliminate unnecessary expenses.
Free Checked Bags
Airline co-branded credit cards often include a free checked bag for the cardholder and sometimes travel companions. With baggage fees ranging from $30 to $40 per flight, this perk can save a family hundreds of dollars on a single trip. Yet, many travelers don’t link their credit card to their airline loyalty account or forget to use the perk. For frequent flyers, this benefit alone can justify the card’s annual fee, making travel both more affordable and less stressful.
Purchase Protection
Accidental damage or theft after buying something can be stressful, but many credit cards include purchase protection. This perk covers eligible items against damage or theft for a set period, often 90-120 days after purchase. For example, if you drop your new camera or someone steals your laptop, you could get reimbursed, but too often, Canadians forget this safety net exists and absorb the loss themselves. Keeping receipts and filing timely claims can help cardholders take full advantage of this valuable perk.
Price Protection
Some credit cards refund the difference if an item you purchased drops in price shortly after. Known as price protection, this benefit can save Canadians from overpaying, particularly on electronics, appliances, or seasonal sales. While coverage limits vary, the perk essentially acts as an automatic deal-finder, without you needing to scour flyers or chase refunds. The catch is that many people don’t know how to submit claims, so they miss out, but using this perk ensures you always get the best possible deal after buying.
Free Credit Score Monitoring
Maintaining good credit is essential, yet many Canadians pay for credit monitoring services unnecessarily. Several credit cards now offer free access to your credit score and even credit report updates. This perk allows cardholders to track changes, spot identity theft early, and monitor progress toward financial goals. While the free versions may not be as detailed as paid subscriptions, they provide enough information to keep a close eye on your financial health at no added cost.
Zero Liability Protection
One of the most reassuring credit card perks is zero liability protection, meaning you won’t be held responsible for unauthorized charges. Whether your card is lost, stolen, or used fraudulently online, you’re protected as long as you report it promptly. Many Canadians worry about fraud and pay for unnecessary identity theft insurance without realizing their card already has this safeguard. It’s an overlooked but powerful benefit that provides financial security in an increasingly digital, fraud-prone world.
Trip Cancellation and Interruption Insurance
Travel plans can unravel unexpectedly, either because of illness, weather, or emergencies, often derailing trips. Some credit cards offer built-in trip cancellation or interruption insurance, reimbursing prepaid expenses such as flights, hotels, and tours if your plans fall through for covered reasons. Many Canadians spend extra on standalone travel insurance without realizing their credit card already includes this coverage. While claim limits and restrictions vary, this perk can prevent significant losses when travel goes wrong. Reading the fine print ensures you maximize the benefit before buying duplicate coverage.
Lost or Delayed Baggage Insurance
Lost or delayed baggage can turn any trip into a nightmare, but some credit cards offer insurance that compensates you for essential items like clothes, toiletries, or even the full replacement value if bags are never recovered. Airlines often provide minimal compensation, making this perk especially valuable for international travel. Yet, many Canadians don’t realize they have it and pay out-of-pocket for replacements. Using this benefit means you can travel with more confidence, knowing your belongings are financially protected if the unexpected happens.
Concierge Services
Many premium credit cards include concierge services, a personal assistant available by phone or app to help with everything from booking hard-to-get reservations to arranging travel or finding event tickets. This perk saves time and can open doors to experiences that might otherwise be out of reach. Canadians often overlook this benefit, assuming it’s only for elite travelers, when in reality, it’s included with their card. Using it strategically can provide access, convenience, and luxury without additional costs.
Global Wi-Fi Access
Certain cards partner with global Wi-Fi networks, offering free or discounted access at thousands of hotspots worldwide. For Canadians who travel frequently, this perk saves on roaming charges or expensive airport Wi-Fi fees. The convenience of secure connections at airports, hotels, and cafes can make a big difference when working on the go. Yet, many cardholders don’t activate or use the benefit, paying out-of-pocket for connectivity instead. Knowing where and how to access this perk can create real savings on travel.
Emergency Roadside Assistance
Some credit cards include free or discounted roadside assistance, covering services like towing, flat tire changes, fuel delivery, or lockout help. Many Canadians already pay for separate memberships with auto clubs, unaware that their credit card offers similar protection. While benefits vary by card, having this perk means you’re never stranded without help. It can save both money and stress, especially for drivers who may only need roadside assistance occasionally. Checking your benefits before paying for duplicate services can unlock hidden value.
Free Companion Tickets
Airline-affiliated cards sometimes offer a free or discounted companion ticket each year. This allows cardholders to bring along a partner or friend for little to no extra cost when booking travel. With airfare being one of the largest travel expenses, this perk can deliver massive savings, which is sometimes worth more than the card’s annual fee itself. Sadly, many Canadians forget to redeem it before it expires. For those who travel with a partner, remembering to claim this benefit could slash vacation costs dramatically.
Hotel Upgrades and Discounts
Some credit cards include partnerships with hotel chains that provide free upgrades, late checkout, or exclusive discounts. These perks can make travel more comfortable without added cost, and for frequent travelers, they can translate into hundreds of dollars in value each year. Yet, many Canadians miss out because they don’t book through the card’s travel portal or don’t know the benefit exists. By simply choosing the right booking method, cardholders can unlock more luxurious stays for less, turning ordinary trips into memorable experiences.
Event Ticket Presales and VIP Access
Credit cards often partner with ticketing platforms to offer presale access for concerts, sports games, and events, while some even provide VIP experiences like meet-and-greets or exclusive seating. Canadians who regularly attend events could benefit greatly, yet many don’t use this perk and end up paying inflated resale prices. This benefit isn’t just about savings, but also about access, and by keeping an eye on cardholder offers, you can secure the best seats at face value, avoiding the frustration of sold-out events.
No Foreign Transaction Fees
Travelers often lose 2.5% or more on every purchase abroad due to foreign transaction fees. Some credit cards waive these fees entirely, making them a must-have for Canadians who shop online in foreign currencies or travel internationally. Over time, this perk adds up to significant savings, potentially hundreds of dollars per year, but many Canadians stick to cards that charge these fees without realizing better options exist. Choosing a no-foreign-fee card ensures you keep more of your money when spending globally.
Free Airport Parking Discounts
Certain credit cards offer discounted or free airport parking through partnerships with parking facilities. Considering airport parking in Canada can cost upwards of $25-$40 per day, this perk can save frequent flyers a substantial amount. Unfortunately, many cardholders either don’t know about it or forget to activate the benefit when booking. Still, for those who regularly drive themselves to the airport, this perk can quietly offset the annual card fee in just one or two trips.
Hotel and Airline Points Transfer Bonuses
Some credit cards allow cardholders to transfer points to hotel or airline loyalty programs, often with bonus percentages. This perk helps maximize travel rewards by converting points into more valuable redemptions. For example, transferring points during a 25% bonus period can stretch rewards further, covering more flights or nights. Many Canadians don’t take advantage of this flexibility and redeem points at a lower value for gift cards or merchandise instead. Still, understanding transfer opportunities can turn everyday spending into elevated travel experiences.
Complimentary Travel Credits
Some premium credit cards provide annual travel credits, often worth $100-$200, to offset expenses like airline fees, hotels, or lounge passes. These credits can effectively reduce or even cancel out the card’s annual fee if used wisely; however, many Canadians forget to redeem them before they expire. By planning trips and expenses around this benefit, cardholders can maximize their value while lowering overall travel costs. For frequent travelers, this perk is one of the simplest yet most powerful to use.
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