Perks that come with credit cards

Buy with American Express, MasterCard, Visa, or a growing number of debit cards and you're entitled to benefits that you might not even know about. To determine what perks you have and how they work, read the material that came with your card. (If you've lost it or didn't get a full explanation of benefits, ask for a copy or check the issuer's Web site.) Note the fine-print exceptions, including dollar limits on coverage. To qualify, you generally must use the card for the entire purchase. To take advantage of a benefit, you file a claim, which might involve sending your receipt or the item itself. Common benefits from Amex, MasterCard, and Visa are below. (A Discover card spokesman said some benefits are available with some cards, but he could not elaborate.) Benefits differ, so check with your card issuer.

Extended warranty

Cards often double manufacturer warranties up to one extra year on purchases up to $10,000. The product must come with an initial warranty for no more than three to five years, depending on the card. That's one reason not to buy an extended warranty for most products.

Purchase or product protection

Cards might cover you if an item is stolen, accidentally damaged, vandalized, or lost. For damage, the card issuer will arrange for repair or, in some cases, replacement or refund. American Express covers an item for up to 90 days, with a limit of $1,000 or $10,000 per occurrence, depending on the card, and $50,000 per policy year. Plans don't cover shipping and handling expenses. Coverage may apply only as backup to your own insurance.

Price protection

If you find the same product at a lower price within 60 days of purchase, some cards will reimburse you for the difference. Online purchases might be excluded.

Return protection

This provides a refund if you're unhappy with an item but the retailer won't take a return. The American Express program applies to purchases up to $300, $50 more than MasterCard and Visa. All have a $1,000 annual limit.