credit cards

6 hidden credit card perks that can save you cash

Rental car insurance
Rental car insurance © Jack Frog/Shutterstock.com

Rental car insurance

Many credit cards offer collision and theft protection policies for free, as long as you use your card to rent the vehicle and decline the coverage offered by the rental agency. And these card policies also kick in only for losses and expenses not covered by your own auto insurance.

  • American Express: Coverage for loss and damage applies for the first 30 days of a vehicle rental. Towing, storage and loss-of-use fees charged by the rental agency are covered. Vehicles not covered include (on some cards) cars with an original manufacturer's suggested retail price of $50,000 or more, certain "exotic cars," trucks, sport-utility vehicles and vans.
  • Discover: Applies for the first 31 days of a vehicle rental. Maximum reimbursement is $25,000. Off-road, antique or limited edition vehicles, recreational vehicles, trucks and vehicles whose replacement value exceeds $50,000 are not covered. Coverage applies to vehicles rented anywhere in the world.
  • MasterCard: Applies on standard cards for the first 15 days of a vehicle rental. Towing and up to $500 in loss-of-use fees are covered. Vehicles with an MSRP of $50,000 or more, trucks, SUVs, motorcycles and antique vehicles are not covered.
  • Visa: Applies for the first 15 days of a vehicle rental within the cardholder's country of residence or 31 days in another country. Towing and loss-of-use fees are covered. "Expensive or exotic vehicles," trucks, motorcycles, mopeds and recreational vehicles are not covered.

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Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

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