Use Your Credit Card to Save on Car Rentals
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NEW YORK ( — If you plan on renting a car during an upcoming summer vacation, using a credit card to pay for it may save you money and provide increased protection.

When you rent a car, the rental agencies will try to sell a collision damage waiver, commonly referred to as a CDW. This is the insurance that provides coverage for damage to the rented vehicle. This can cost about $ 15 per day. Depending on your policy, your personal auto insurance may cover any damage to the rental car. In addition, your credit card issuer may offer CDW coverage, but you must pay for the rental car in full with your credit card for this coverage to be valid. You must also decline the coverage from the rental car company. The CDW coverage from your credit card will be secondary to your personal coverage. Make sure you understand the coverage on your personal auto insurance and your credit card before you rent a car. Since coverage varies from one issuer to another, it is a good idea to call both your car insurance and credit card company to get the specific details of your rental car coverage. Ask for the coverage information in writing. Coverage can vary depending upon a number of issues:

  • Rental periods vary. Visa(V…………… continues on

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Is Dust on Your Credit Card a Bad Thing?
News from U.S. News & World Report:

Some debt-laden consumers go to extremes to let their credit cards cool off. Quite literally. Some exile their cards in an icy “lock box” in their freezer. It’s believed that in the time it takes the ice to melt, the urge to spend will have passed. That’s usually a fix for someone who can’t easily control their charging. But what about those consumers who put a figurative freeze on credit card debt?

[See 10 Signs You Shop Too Much.]

Some consumers routinely let their credit cards gather dust. They’re comfortable walking around with cash or they use debit cards, saving credit accounts for emergencies and the occasional plane ticket or hotel room. Their resolve is admirable, as allowing revolving balances to swell, often at much higher interest rates than on other loans, can strain household finances. High balances jeopardize the high credit ratings needed to secure attractive financing on life’s big demands, like a home purchase.

But as anyone who’s ever tried to decode their credit report knows, all credit cards are not created equal.

For starters, having a respectable amount of credit history is important. Accounts that carry modest balances and robust upside borrowing limits will earn favorable points. That’s…………… continues on U.S. News & World Report

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