“We’re fast approaching this holiday season and people start to play a little fast and loose with their credit,” Christopher Mihoulides, founder of Credit Counsel Inc., begins. “It’s important to note that while this is indeed the season for giving, there are measures you can and should be taking to ensure you’re making the best decisions concerning your credit and your future.”
Credit Card Price Protection
What is credit card price protection? Simply put, price protection allows you to make purchases without having to worry about future price drops. If the product you’ve purchased goes on sale, you can be reimbursed by your credit card company for the difference.
Some price protection offers take it a step further: if you’re able to find the same product at a different location for a lower price, you may be able to file a claim and recover the difference. Here’s the catch: not every purchase will be covered by this protection deal.
Depending on your credit provider, there will be a multitude of different restrictions concerning your price protection deal. Christopher Mihoulides of Credit Counsel Inc. recommends going over these restrictions very carefully. “The last thing you want is to make a purchase under the false understanding that you can recoup some of the cost later.”
One thing to watch out for, warns Christopher Mihoulides, is the prevalence of manufacturers creating retailer-specific versions of hot-ticket items with their own unique model numbers. These items will invariably not be covered by any sort of price protection clause.
Return Protection
Return protection is another powerful tool in your holiday credit arsenal, Christopher Mihoulides of Credit Counsel Inc. tells us. Return protection allows you to be reimbursed for the price of a purchased product or products. This is especially useful in the case of buying a gift you’re not sure the recipient will like.
As with price protection, you’ll want to carefully review which items are covered under your credit card’s return protection policy. In many cases, the restrictions on a return protection policy can be even greater.
Extended Warranty Coverage
This is definitely something you’ll want to look into before buying any expensive electronics or similar items this holiday season. Christopher Mihoulides, founder of Credit Counsel Inc., explains: “Oftentimes, you’ll find that your credit company’s extended warranty coverage is a better deal than the standard extended warranty you may be offered while shopping. Take the time to go over your credit provider’s warranty coverage before stepping foot into a store.”
As with the other listed potential credit card benefits, it is of the utmost importance you read over the terms with a sharp eye. Being knowledgeable about your full benefits and restrictions is tantamount to preserving your credit and ensuring you’re making the best possible decisions regarding your finances.
Based in South Florida, Credit Counsel, Inc. is a national and international debt recovery firm specializing in commercial, medical, and occupational health debt collection. Founded by Christopher Mihoulides and fellow debt recovery industry professionals, Credit Counsel, Inc. serves a broad range of clients across the United States and worldwide. For more information, call 877-224-7904 or visit http://www.creditcounselinc.com/.