Saving money by using a credit card like insurance

[stache9434]

A lot of people on this forum may already be aware of this but I am new to credit cards so I thought I'd share.

I recently got a Visa card that came with a brochure titled "Guide to Benefits". From what I have read so far, if I buy something with my Visa card and it is damaged or stolen within 90 days, Visa will reimburse me for the item beyond what my insurance covers or reimburse my deductible. It even provides protection from auto rental damage in foreign countries, extended warranties, and lost luggage reimbursement!

 I am really surprised that credit cards offer this since it doesn't seem to me like they are actually responsible for lost luggage or anything like that. There are, of course, a lot of restrictions on how this can be used, but this could potentially save people lots of money!

[PatronWizard11]

They want people to overspend,forget to pay in full, etc and make money on interest. CSP even has car rental insurance that acts as primary not secondary when in an accident. Friend used it and they gave him zero trouble.

[Whiplash]

That's one of the reasons we have a credit card. When we do buy something of value (furniture, electronics, flights) we always do so on that card and then pay off the balance as soon as the transaction comes through a day or two later. Have saved my bacon a few times.

[HipGnosis]

How does it save you money?
You still need auto insurance and homeowners or renters insurance.

[JLee]

How does it save you money?
You still need auto insurance and homeowners or renters insurance.

Amex gave me a $200 credit when I had two $100 devices fail after the manufacturer's warranty expired, but before the extended Amex warranty expired.