When credit card users receive a letter saying that their card has been ‘enhanced’ in some way, it can be easy to conclude that the program has just become less valuable. That is how it normally works when an airline or a hotel chain makes changes to its rewards program.
Yet the news isn’t always bad. Recently, many Chase credit card customers received notices by email or regular mail detailing improvements to several key benefits. Here are some of the new benefits for Chase credit card holders.
Auto Rental Collision Damage Waiver
Chase cards that are part of the Visa Signature Program now receive substantially better rental car coverage. For example, cardholders are now covered when their rentals do not exceed 31 consecutive days. In the past, the coverage was limited to 15 days. In addition, the territorial limitations of coverage have been eliminated. In the past, renters were not covered in Israel, Ireland, and Jamaica – all popular tourist destinations.
Chase has relaxed the deadlines on its Purchase Protection program, which covers cardholders against accidental damage of items purchased using their Chase credit card. The new benefit is for items purchased within 120 days (previously it was 90 days). Cardholder can file a notice within 90 days (previously it was 60 days) and file claims with 120 days (previously it was 90 days).
This benefit increases the manufacturer’s original warranty by one additional year for warranties of three years or less for items purchased with a Chase credit card. Additional items that are now included under the program are built in items around the home such as microwaves and garage door openers.
Trip Cancellation and Trip Interruption Insurance
If a trip is canceled or cut short by sickness or severe weather, Trip Cancellation Insurance reimburses non-refundable trip expenses purchased using the Chase credit card, including pre-paid trips whose payments were made to travel suppliers (i.e. hotels, tours, all-inclusive packages).
What is really interesting is that card holders are covered even when the trip was paid for with credit card rewards earned through Chase. The value of the rewards is only one cent per point, but that is is better than nothing.
Which cards are affected by these changes
I have seen the guide to benefit documents for Chase’s Southwest Airlines card, Sapphire and Sapphire Preferred cards, and Ink Bold and Ink Plus cards. All contain the same language, but double check to see that these new benefits apply to your cards..
By taking the time to understand some of the improved benefits offered to Chase credit card holders, you can can get the most out of these credit cards.