Have an American Express Card? You May Be Missing Out on Perks

Don't leave money on the table by forgetting this simple step.

If you're big on rewards cards, you probably have at least one American Express card on your wishlist or already in your wallet. American Express offers many popular rewards cards, including some of the most coveted travel cards.

One of the things that really makes American Express cards stand out is that they often have a long list of perks and benefits. These can range from airport lounge access to lucrative statement credits.

Unfortunately, many of the fantastic perks that come with your American Express cards aren't automatic. You need to activate or enroll in certain perks and benefits to actually use them. If you forget this crucial step, you could be missing out on a lot of value.

How to activate your benefits

On the plus side, it's very easy to activate all of your benefits. You can do it through your online account, either through a browser or American Express' fantastic mobile app.

In the browser, log into your American Express account and select the card you need. Choose "Rewards & Benefits" from the menu, then select the "Benefits" tab. Here, you'll see all of your available benefits.

The process in the app is similar. Log into the app and select the correct card. Then, go to the "Membership" tab. Tap the "Explore All Benefits" square to see a list of your available benefits.

To enroll, click "Enroll Now" for the appropriate benefit. Benefits for which you're already enrolled will have a checkmark and say "Enrolled."

One-time enrollments

Most of the perks that require some type of enrollment only require that you do so once. Depending on which card you have, this may include:

• Statement credits
• Uber Cash
• Lounge access
• Hotel elite status
• ShopRunner membership

Once you're enrolled in these benefits, you don't need to do anything else. You'll stay enrolled so long as your account stays open and the benefit continues to apply.

Annual check-ups

One benefit you may see on an American Express travel rewards card is an Airline Fee credit. This perk offers statement credits for eligible airline incidentals like checked bags and in-flight food or beverage purchases.

The airline fee credit, similar to other benefits, requires enrollment to activate it. But there's a little more to this perk: You also need to select your airline. The benefit only applies to incidentals from one selected airline each year. Once you choose your airline, you can't change it again until January of the next year.

Technically, you only need to do this once. You can choose an airline and keep that selection for as long as you have the benefit. However, it's probably a good idea to evaluate your needs every new year to see if you could benefit from changing up your selected airline.

Weekly to-dos

One of the perks often overlooked when discussing American Express rewards cards are the Amex Offers. Each card has a list of 100-plus retailer and partner deals that can unlock big discounts or valuable statement credits.

As with other perks, though, you need to do a little work to enjoy them. Specifically, you need to add each offer to your card. Then, you simply make an eligible purchase with that card and reap the rewards.

Since individual offers need to be added to your card, and offers change regularly, it's a good idea to scope out the new offers once a week or so. There's no known cap to how many offers you can add to a card, so don't be shy!

Keep in mind that you can only add an offer to one card. So if you see the same offer on multiple cards, only add it to the card that will offer the best value for it. For example, if you get an offer for extra points at your favorite restaurant, add it to the American Express card with the most bonus rewards on dining purchases.

No-brainers

While many of the perks we've mentioned require a little work on your part, some cardholder perks are automatic. For example, the purchase rewards you earn with your American Express cards are applied automatically when you make an eligible purchase.

Additionally, if your card comes with certain travel insurance benefits, such as lost luggage coverage or trip insurance, you won't need to enroll or activate anything to get coverage. All you need to do is make eligible purchases with your card. That said, you will need to file a claim just as you would with other types of insurance like car or homeowners insurance.

Enrolling in benefits is a bit of a pain -- but it's well worth it. The process takes about five minutes when you first get your card, with some minor maintenance after that. Depending on your card and perks, those could be some of the most valuable five minutes you ever spend.