auditing credit card benefits

Auditing Credit Card Benefits

One of the reasons many of us have a credit card, besides using it to build our credit score, is for all of the added perks and benefits the card offers. We often consider these enticing benefits when we think about which credit card to apply for, and along with interest rates and annual fees, these benefits often help us decide which card to actually apply for. Auditing credit card statements on a monthly basis is always important, and there’s one more reason why this is a good idea.

Once we are approved for the credit card and begin using it, we often forget about all of the benefits that come along with having and using the card. Recently, I was exploring one of the bank apps that I use for some of my accounts and came across my credit card benefits page. It was a good reminder of all the cool stuff that comes along with having the card. It also highlighted a bunch of benefits that I didn’t even realize I had!

Let’s be honest here. Most of us will never use all of the benefits our various credit cards have to offer. But, often there are great benefits that might be worth putting to good use. It doesn’t do much to accumulate a ton of points, miles, etc. that are never used or simply expire. .

Circling back to my recent visit to my credit card benefits page. I was surprised to find a benefit that I didn’t realize I had. My credit card will pay for the cost for me to sign up for the TSA Pre-Check service. This is a HUGE benefit when flying and saves me a ton of time and aggravation! Needless to say, I was very excited to take advantage of this. A colleague purchased her first iPod with all the points she accumulated through her credit card’s rewards program.

Do you know what benefits your credit cards offer? You may find it helpful to do a  regular quick audit to see what interesting benefits you have. And remember – benefits may change over time. A benefit that wasn’t helpful last year could be the best thing ever today!

A Journey to Personal Financial Independence

At Morgan Franklin Fellowship (MFF), we support the concept of financial freedom – by teaching participants how to save by paying themselves first, invest for their future and grow their net worth.

Learning how money works and how to talk about money with others are the first steps towards recognizing an individual’s lifelong financial goals. Our online courses and on-demand learning events are designed to help individuals learn the concepts, rules and vocabulary of money, finance and investing.

Becoming an MFF Fellow  

Our Standards of Financial Literacy program is engaging, full of interesting information, and easy to navigate. Adapted from the National Standards for Financial Literacy developed by the Council for Economic Education (CEE), this robust curriculum features six short lessons on such important topics as earning income, understanding the value of saving and using credit. When completed, this program lays the foundation for becoming an MFF Fellow.

Becoming an MFF Fellow is the ticket to  access additional MFF programs and opportunities for mentoring, networking, internships and real-world opportunities. These are the opportunities which allow MFF Fellows to continue their journey towards personal financial independence.

Learn more at morganfranklinfellowship.com.

 

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