What Credit Card Services Are Available to You?

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Not all credit cards are the same - learn about the various services and perks available to you.

A credit card provides a lot of conveniences to customers. It offers a flexible way to make purchases now and pay later. Different cards come with different member services. Considering the card member services before you apply is crucial to make sure the card will meet your needs.

Customers are able to use card member services to gain all the information they may want about the credit card. Typical services include viewing statements, checking balances, and setting up automated payments. You can learn more about credit cards in our guide - check it out here.

Card Member Services Offered to Customers

Secure Access

All major credit cards will offer members secure access to their account online. They will be able to pay the bill online with easy account access. Apart from this, they can check balance, debits, payments, start balance transfer with a few clicks, and much more.

Card members can track their purchase activity and choose how to manage and check on their accounts. The financial data of card members is kept safe. Members can also prevent mail theft by accessing the statement online and turning on the paperless bill option.

Members can set up alerts about important changes to the account. Balance limits and balance-due details are also available through the member’s account.

Credit card members can pay their bill online. They will be able to schedule payments for future dates. Recurring monthly payments can be set up with a few clicks.

Added Layer of Security

The security of their members is the top priority of credit card companies. Payment technology innovations make using credit cards secure.

All new credit cards are embedded with a microchip. It adds an extra layer of security to the card. The microchip turns all information of cardholders into a unique code. This makes it impossible to duplicate and more secure to transmit.

The embedded chip protects the card from fraud. Creation of a unique code for each transaction makes the card even more secure at the point of sale.

Fraud Prevention

Online protection of personal information of the members prevents fraud. If your card offers fraud protection, your account is monitored for suspicious activity. Confidential banking data is protected with encryption as data moves from the card to the point of sale and finally to the payment processor.

Any kind of abnormal spending pattern is tracked. Upon detection of unusual activity, credit card companies move fast to keep the account and card information safe.

If the account is protected with zero fraud liability, the customer gets reimbursed 100% for any unauthorized use of the credit card.

If a customer notices any charges that they had not made, they can contact the credit card company immediately to put a hold on the card to prevent future activity.

Credit Management

Credit card companies are starting to add card member services that allow them to check their credit score for free anytime they want. Credit scores can be checked as often as you like. This will not have an effect on your score. Update of credit scores is done on a monthly basis.

Some cards offer access to a spending analysis reporting tool. This tool helps track your credit card spending. This will help customers make informed decisions.

A yearly spending pattern can be reviewed by the customers. The spending pattern will help members get a clear picture of their finances. Their expenses can be evaluated by category.

Money Transfer

Some cards make managing funds easy. They allow members to view account balances and transaction history of all purchases and link other accounts to transfer funds as needed.

Information on loan accounts (including the scheduled payment amount, interest rate, and due date) can be reviewed. Alerts can be set to track your accounts. Funds can be quickly transferred from the account.

Automatic Bill Payments

Customers can use their credit card to pay bills. These bills can be paid conveniently using an automatic bill payment service. This service enables customers to stop worrying about due dates, service interruptions, and late fees by scheduling payments in advance.

Online account access grants customers access to a list of merchants to whom recurring payments can be made conveniently. All that the customer needs to do is to verify to whom the recurring payments should be made.

Typically there are different payment options available to customers. They can choose the one that is beneficial for them. Automatic bill payments can be added to an existing account.

Overdraft Protection

An overdraft occurs when there is not enough money in an account to cover the transaction. This member service allows the payment to be made anyway. The overdrafts are determined based on the balance in the account.

The available balance may be lower than the actual balance in the account. Customers will need to opt-in for extended overdraft so that they are able to benefit from it.

Balance Transfer

Credit card expenses can be consolidated into a single monthly payment. Consolidation will help pay off credit cards and loans. Customers will then be able to take advantage of lower rates to save money.

Credit Line Increase

With a good credit history, customers will be able to request an increased line of credit. This will help them stay in control even with unexpected expenses. Their buying power is also increased.

Travel Benefits

Cards with travel benefits will be able to receive insurance coverage at no extra cost. The coverage is for theft when renting a car or for damage due to a collision. All that the customer needs to do is to charge the entire rental transaction to the card.

A range of emergency services are provided to the customer. This helps the customer enjoy peace of mind and save money. Online travel notifications can be set up on the account.

Add Authorized Users

This service offers the customer the convenience of adding additional authorized users to the credit card account. Providing family members access to their own credit card will ease the burden. It will also help simplify family expenses.

Adding an authorized user will not impact the credit score of the customer. However, if the new user doesn’t make smart choices, additional charges and potential non-payments will impact your credit score..

Request Statement Copies

Statement copies of the credit card account can be requested and accessed online. The customer can specify the start and end dates of the statements they want to access. The statements are received within a couple of weeks.

Skipping Payments

Members with a good credit score may be able to skip payments. Some cards allow members to skip two payments each calendar year. The customer should fulfill certain conditions to avail themselves of this service. Only accounts with good standing will be able to take advantage of this offer. But remember, the card company is still charging interest on your card balance so use this service wisely.