Your credit card could lower vacation costs

There are lots of ways to save money on your summer vacation. Go for one week instead of two. Drive instead of fly. Stay in a hotel with free breakfast and eat enough to last you until dinner.

But there’s another way to cut costs that won’t require you to stuff muffins in your purse. Pour yourself a cup of strong coffee and read your credit card agreement. While most cardholders are aware of their card’s airline miles and cash-back rewards, many are unaware that their credit card offers lots of other money-saving perks.

•Rental car insurance. Optional collision coverage could add $15 a day or more to the cost of your rental car. There’s a good chance, though, that your credit card will cover costs that aren’t covered by your personal auto insurance policy.

To qualify for this coverage, you must decline the insurance offered by the rental car agency. You must also pay 100% of the rental car costs with your credit card, says Bill Hardekopf, CEO of LowCards.com.

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