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Take Advantage of These 9 Free Credit Card Benefits and Save Big

Take Advantage of These 9 Free Credit Card Benefits and Save Big

Aside from rewards, many credit cards offer massive cost saving opportunities, but you have to know where to look and what to do.

From free travel medical insurance to low price guarantees, many of us lose out on hundreds, if not thousands, of dollars because we have no clue what benefits our credit cards provide. Others simply waste money paying for something their credit card already offers for free.

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Here are just a few of the more common, and not so common, benefits you should check your credit card for, to ensure you get the most bang for your buck.

1. Out of Country Travel Medical Insurance

While not as common with U.S. credit cards, many foreign cards, such as Canadian travel credit cards, offer free travel medical insurance. If your current healthcare provider doesn’t cover you for out of country medical emergencies, you need to ensure you’re protected when travelling. Without it, you can be on the hook for the entire cost of a medical procedure or hospital stay, which can literally go into the tens, if not hundreds, of thousands of dollars.

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2. Trip Cancellation

If you get sick right before a trip and have to cancel your vacation, it can cost you thousands. Your airline may be willing to reschedule your dates for a fee, but many cruise lines and resorts will charge you the full amount of your reservation if you cancel within two months of your stay. Trip cancellation insurance will protect you for a series of qualifying events and comes free with many travel credit cards.

3.  Car Rental Insurance

If you plan on renting a car while on vacation, there’s no doubt the car rental agent is going to pitch you to take out the rental agency’s insurance. Before doing so, see if your credit card already covers you. A simple check can save you $30 a day in insurance!

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4. Price Protection

This benefit isn’t offered by many credit cards, but it’s a super valuable perk, if you have it. Nothing causes buyers remorse more than finding an item on sale days after you bought the exact same product for more. Some credit cards offer price protection, so that if you find the same item on sale within 60 days of purchase, you’ll get compensated the difference, saving you hundreds of dollars!

5. Purchase Protection

Ever break, scratch or have your sunglasses stolen just days after you bought them? If you had purchase protection on your credit card you’d be in the clear. Before going out to repair or buy another item that may have been lost, broken or stolen, make sure you’re not already covered by your credit card for up to 90 days after purchase.

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6. Extended Warranty

Ever notice that every time you buy electronics or white goods at Best Buy, Staples, Home Depot, Lowe’s or Sears somebody’s trying to up-sell you extended manufacturers warranty? Before saying yes, consider that if you buy the item with your credit card, it may automatically double your manufacturer’s warranty by up to a year or more. Often times stores charge huge sums for extended warranties, sometimes as much as 20%-30% of the value of the purchase price itself. Relying on your credit card’s extended manufacturer’s warranty is a great way to save – especially when electronic items are being replaced so quickly anyhow.

7. No Foreign Transaction Fees

If you plan on travelling out of country, re-think exchanging your money at the bank, airport, hotel or currency exchange booth. Both MasterCard and Visa exchange your foreign purchases at pretty close to the spot rate. If you get a no foreign transaction fee credit card, you’ll be getting what could be the lowest exchange rate available. Instead of paying close to 10% over and above the spot exchange rate at an airport, you’ll be paying less than 1% with your card.

8. First Checked Bag Free

Airfare is only the first in a long line of a la carte fees airlines charge to get you from point A to point B. Before dolling out $30 each way to check your bags, make sure your credit card doesn’t already cover the cost. Some cards even offer free first checked bag for you and each of your travelling companions, which could add up to hundreds of dollars saved per trip.

9. Zero Liability

If you ever see any unauthorized charges on your credit card, you’re credit card issuer is on the hook to pay the charges, not you. Whether your card was stolen, a merchant added shipping charges you did not agree to, or a subscription service enrolled you into a program after a free trial without your permission, you’re protected. Instead of contesting the charge with the merchant, simply call your credit card issuer and they’ll take up the issue with the merchant directly.

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Marc Felgar

Marc Felgar is an aging, health & senior care expert focused on improving the lives of mature adults.

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Published on November 8, 2018

How to Answer the Tough Question: What are Your Salary Requirements?

How to Answer the Tough Question: What are Your Salary Requirements?

After a few months of hard work and dozens of phone calls later, you finally land a job opportunity.

But then, you’re asked about your salary requirements and your mind goes blank. So, you offer a lower salary believing this will increase your odds at getting hired.

Unfortunately, this is the wrong approach.

Your salary requirements can make or break your odds at getting hired. But only if you’re not prepared.

Ask for a salary too high with no room for negotiation and your potential employer will not be able to afford you. Aim too low and employers will perceive as you offering low value. The trick is to aim as high as possible while keeping both parties feel happy.

Of course, you can’t command a high price without bringing value.

The good news is that learning how to be a high-value employee is possible. You have to work on the right tasks to grow in the right areas. Here are a few tactics to negotiate your salary requirements with confidence.

1. Hack time to accomplish more than most

Do you want to get paid well for your hard work? Of course you do. I hate to break it to you, but so do most people.

With so much competition, this won’t be an easy task to achieve. That’s why you need to become a pro at time management.

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Do you know how much free time you have? Not the free time during your lunch break or after you’ve finished working at your day job. Rather, the free time when you’re looking at your phone or watching your favorite TV show.

Data from 2017 shows that Americans spend roughly 3 hours watching TV. This is time poorly spent if you’re not happy with your current lifestyle. Instead, focus on working on your goals whenever you have free time.

For example, if your commute to/from work is 1 hour, listen to an educational Podcast. If your lunch break is 30 minutes, read for 10 to 15 minutes. And if you have a busy life with only 30–60 minutes to spare after work, use this time to work on your personal goals.

Create a morning routine that will set you up for success every day. Start waking up 1 to 2 hours earlier to have more time to work on your most important tasks. Use tools like ATracker to break down which activities you’re spending the most time in.

It won’t be easy to analyze your entire day, so set boundaries. For example, if you have 4 hours of free time each day, spend at least 2 of these hours working on important tasks.

2. Set your own boundaries

Having a successful career isn’t always about the money. According to Gallup, about 70% of employees aren’t satisfied with their current jobs.[1]

Earning more money isn’t a bad thing, but choosing a higher salary over the traits that are the most important to you is. For example, if you enjoy spending time with your family, reject job offers requiring a lot of travel.

Here are some important traits to consider:

  • Work and life balance – The last thing you’d want is a job that forces you to work 60+ hours each week. Unless this is the type of environment you’d want. Understand how your potential employer emphasizes work/life balance.
  • Self-development opportunities – Having the option to grow within your company is important. Once you learn how to do your tasks well, you’ll start becoming less engaged. Choose a company that encourages employee growth.
  • Company culture – The stereotypical cubicle job where one feels miserable doesn’t have to be your fate. Not all companies are equal in culture. Take, for example, Google, who invests heavily in keeping their employees happy.[2]

These are some of the most important traits to look for in a company, but there are others. Make it your mission to rank which traits are important to you. This way you’ll stop applying to the wrong companies and stay focused on what matters to you more.

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3. Continuously invest in yourself

Investing in yourself is the best investment you can make. Cliche I know, but true nonetheless.

You’ll grow as a person and gain confidence with the value you’ll be able to bring to others. Investing in yourself doesn’t have to be expensive. For example, you can read books to expand your knowledge in different fields.

Don’t get stuck into the habit of reading without a purpose. Instead, choose books that will help you expand in a field you’re looking to grow. At the same time, don’t limit yourself to reading books in one subject–create a healthy balance.

Podcasts are also a great medium to learn new subjects from experts in different fields. The best part is they’re free and you can consume them on your commute to/from work.

Paid education makes sense if you have little to no debt. If you decide to go back to school, be sure to apply for scholarships and grants to have the least amount of debt. Regardless of which route you take to make it a habit to grow every day.

It won’t be easy, but this will work to your advantage. Most people won’t spend most of their free time investing in themselves. This will allow you to grow faster than most, and stand out from your competition.

4. Document the value you bring

Resumes are a common way companies filter employees through the hiring process. Here’s the big secret: It’s not the only way you can showcase your skills.

To request for a higher salary than most, you have to do what most are unwilling to do. Since you’re already investing in yourself, make it a habit to showcase your skills online.

A great way to do this is to create your own website. Pick your first and last name as your domain name. If this domain is already taken, get creative and choose one that makes sense.

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Here are some ideas:

  • joesmith.com
  • joeasmith.com
  • joesmithprojects.com

Nowadays, building a website is easy. Once you have your website setup, begin producing content. For example, if you a developer you can post the applications you’re building.

During your interviews, you’ll have an online reference to showcase your accomplishments. You can use your accomplishments to justify your salary requirements. Since most people don’t do this, you’ll have a higher chance of employers accepting your offer

5. Hide your salary requirements

Avoid giving you salary requirements early in the interview process.

But if you get asked early, deflect this question in a non-defensive manner. Explain to the employer that you’d like to understand your role better first. They’ll most likely agree with you; but if they don’t, give them a range.

The truth is great employers are more concerned about your skills and the value you bring to the company. They understand that a great employee is an investment, able to earn them more than their salary.

Remember that a job interview isn’t only for the employer, it’s also for you. If the employer is more interested in your salary requirements, this may not be a good sign. Use this question to gauge if the company you’re interviewing is worth working for.

6. Do just enough research

Research average salary compensation in your industry, then wing it.

Use tools like Glassdoor to research the average salary compensation for your industry. Then leverage LinkedIn’s company data that’s provided with its Pro membership. You can view a company’s employee growth and the total number of job openings.

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Use this information to make informed decisions when deciding on your salary requirements. But don’t limit yourself to the average salary range. Companies will usually pay you more for the value you have.

Big companies will often pay more than smaller ones.[3] Whatever your desired salary amount is, always ask for a higher amount. Employers will often reject your initial offer. In fact, offer a salary range that’ll give you and your employer enough room to negotiate.

7. Get compensated by your value

Asking for the salary you deserve is an art. On one end, you have to constantly invest in yourself to offer massive value. But this isn’t enough. You also have to become a great negotiator.

Imagine requesting a high salary and because you bring a lot of value, employers are willing to pay you this. Wouldn’t this be amazing?

Most settle for average because they’re not confident with what they have to offer. Most don’t invest in themselves because they’re not dedicated enough. But not you.

You know you deserve to get paid well, and you’re willing to put in the work. Yet, you won’t sacrifice your most important values over a higher salary.

The bottom line

You’ve got what it takes to succeed in your career. Invest in yourself, learn how to negotiate, and do research. The next time you’re asked about your salary requirements, you won’t fumble.

You’ll showcase your skills with confidence and get the salary you deserve. What’s holding you back now?

Featured photo credit: LinkedIn Sales Navigator via unsplash.com

Reference

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