You’re already paying for benefits you never use. Credit cards, bank accounts, insurance policies, and memberships include perks that most people ignore. These aren’t obscure loopholes. They’re legitimate benefits sitting there unused. Here are ten hidden financial perks people forget to use.
Credit Card Purchase Protection
Most credit cards offer purchase protection that covers theft or damage for items bought with the card. The coverage typically lasts sixty to one hundred twenty days. Your laptop gets stolen or your new phone breaks. The credit card might cover it.
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People pay for extended warranties on electronics when their credit card already provides protection. Read your card benefits guide. It lists exactly what’s covered and how to file claims. You’re already paying for this through annual fees or interest. Use it when something breaks or gets stolen within the coverage period.
Employer 401k Match
This is free money that people leave on the table constantly. Employers match contributions up to a certain percentage. Not contributing enough means losing that match. It’s an immediate return on investment that nothing else provides.
Calculate exactly what you need to contribute to get the full match. Even if you can’t max out retirement contributions, at least get the full employer match. Leaving it unused is literally turning down part of your compensation. People worried about building emergency funds while missing employer matches are making the wrong choice.
Credit Card Travel Insurance
Many credit cards include travel insurance when you book trips using the card. This covers trip cancellations, delays, lost luggage, and sometimes even medical emergencies abroad. People buy separate travel insurance without checking if their card already provides coverage.
The coverage isn’t always comprehensive but it’s often sufficient for typical trips. Check your benefits before buying additional insurance. You might already have rental car insurance, trip delay coverage, and baggage protection. Using these benefits saves hundreds on travel insurance purchases.
Library Services Beyond Books
Public libraries offer way more than books. Free museum passes, digital magazine subscriptions, streaming services, and online courses are all available. Some libraries loan tools, kitchen equipment, and technology. Most people have library cards and never explore beyond the book section.
Libraries provide entertainment and learning that people pay for elsewhere. That museum you wanted to visit might have free passes through the library. The streaming service you considered subscribing to might be available free through library access. The online course you want to take could be in the library’s digital offerings.
Health Insurance Preventive Care
Health insurance covers preventive care at no cost. Annual physicals, certain screenings, and immunizations are free with most plans. People skip preventive care and then pay for treatment of conditions that could have been caught early.
Check what preventive services your plan covers. Get the free annual checkup. Use the covered screenings. Take advantage of free flu shots. Preventive care prevents bigger medical bills later. You’re paying for insurance premiums anyway. Use the free services included.
Flexible Spending Account Eligible Items
FSA and HSA accounts cover more than doctor visits and prescriptions. Sunscreen, first aid supplies, menstrual products, and even some over-the-counter medications qualify. People pay out of pocket for items they could buy with pre-tax dollars.
Review the eligible items list for your account. It’s surprisingly extensive. Stock up on qualifying items using pre-tax money before the year ends. Use every dollar in your FSA before it expires. These accounts reduce your taxable income while covering things you’d buy anyway.
Cell Phone Plan Insurance Through Credit Cards
Some credit cards provide cell phone insurance when you pay your monthly bill with that card. The coverage typically includes theft and damage with a small deductible. People pay carriers ten to fifteen dollars monthly for insurance when their credit card already provides it.
Check if your card offers this benefit. If it does, stop paying for carrier insurance. Pay your phone bill with that card every month to maintain coverage. The savings add up to over one hundred dollars yearly. File claims through the credit card when your phone breaks instead of through the carrier.
Bank Account Perks and Rewards
Bank accounts include benefits beyond basic banking. ATM fee reimbursements, cashback on debit purchases, and rewards points sit unused. People stick with banks that offer nothing when better options exist.
Review what your current bank provides. If it’s minimal, research banks with better perks. Some reimburse all ATM fees. Others pay interest on checking balances. A few offer substantial cashback on debit card purchases. Switching banks for better perks takes an hour and provides ongoing value.
Professional Association Discounts
Membership in professional organizations often includes discount programs. Insurance discounts, travel deals, and reduced rates on software or services come with membership. People join associations for networking and ignore everything else.
Log into your association member portal and explore available discounts. Professional liability insurance might cost less through the association. Hotels and rental cars often have member rates. Continuing education might be discounted or free. You’re paying membership dues. Use all the benefits included.
Warranty Coverage You Already Have
Credit cards, manufacturers, and retailers all provide warranty coverage that stacks. Your purchase might have multiple overlapping warranties you’re not using. When something breaks, people buy replacements without filing warranty claims.
Keep receipts and warranty information organized. When items break, check all possible coverage sources before paying for repairs or replacements. The manufacturer might cover it. The store might replace it. Your credit card might reimburse it. Check all three before spending money on something that’s actually covered. Those developing better money habits learn to track and use all available coverage.
The Value Sitting There
These perks exist whether you use them or not. Companies offer them to attract customers but most people never take advantage. The benefits are already paid for through fees, premiums, or membership costs. Ignoring them means paying for value you’re not receiving.
Spend an hour reviewing what you’re actually entitled to. Read credit card benefit guides. Check your insurance policy details. Explore your employer benefits package. Log into memberships you already have. The perks sitting unused add up to hundreds or thousands in annual value. Using what you’re already paying for isn’t gaming the system. It’s just being smart about resources you have access to but keep forgetting exist.
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