Price Protection: Which Credit Cards Will Refund You the Price Difference When a Recently Purchased Item Goes on Sale?

Don’t you hate it when you buy something only to find out that weeks later it went on sale? Well, MasterCard, Citi, and Discover are willing to refund you the difference on some of these items if this occurs. “Price Protection” is a feature that these cards offer, that allows you take advantage of sales, if they occur after you have made your purchase. Read on to see the break down of each card and the price protection features that they have.

 

MasterCard Price Protection

The MasterCard Price Protection program is available on any items that you buy, that you later find a lower advertised price for within 60 days of your purchase. There are some limitations including online auctioned items, collectibles (including jewelry), and layaway items to name a few few. Chances are, if you purchase an item and find a lower advertised price for it, you should be able to make a claim. MasterCard limits your claims to $250 per claim and you can make up to 4 claims in a 12-month period.
Full MasterCard Price Protection Program

Citi Price Rewind

The Citi Price Rewind feature is one of the best available and has an option that should be copied by every other credit card company. When you purchase an item with your Citi card you can register it at citi.com/pricerewind. They will then search retailers’ websites for a lower advertised price. Beyond that you can still look around yourself and make a claim if you find one. Some exceptions are airline or transportation tickets, boats, and jewelry. One catch is that the item has to be advertised for at least $25 less than what you paid. They will refund you up to $250 per item up to 4 times a year. Lastly, the time frame for this is up to 30 days after you have made your purchase. With Citi’s Price Rewind, you have less time then other price protection programs, but it’s a great feature that Citi will do some of the research for you once you register your purchase with them.
Full Citi Price Protection Program

Discover Price Protection

The Discover Price Protection program has the longest time frame and the largest limit on the amount that you can be refunded. You have to do the research yourself, but if you find a lower priced item within 90 days of making your purchase, you can make a claim. You can be refunded up to $500 per claim and you can claim up to $2,500 per year. There is no minimum price drop requirement to make a claim and some excluded items include gift cards, BOGO items, and jewelry. If you find a cheaper advertised price for an item that you bought all you have to do is call 1-800-Discover and file your claim.
Full Discover Price Protection Program

With these 3 cards offering price protection coverage, you can be sure to get the best price for the items that you buy. If you are looking for an easy hassle free way to get the best deals, then a Citi credit card is the way to go. If you want the longest time frame to find a lower price, and also to make the most in claims, than a Discover card is your best bet. Lastly, if you love the many cards that MasterCard has to offer, than you can shop knowing that you have the ability to save using their purchases protection program.

Remember that these are features that come with different cards and should not be the sole factor in choosing which card is best for you. Tina Orem from Creditcardguide.com says “Your spending habits and whether you tend to carry a balance are bigger factors”, the price protection features would just be an added bonus. Now that you know that this feature is available and on which cards you can take advantage of it or at least include it ion your decision for your next credit card.

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