Credit card price protection, what is it?

Imagine, one day you arrive from the office thinking about the great day you had, with great pride of your work you think “I deserve a beer!” And you go to the refrigerator, but a strange smell begins to invade your nose, as you approach to your kitchen When you open the refrigerator, you realize that it is broken and all your food is spoiled. You speak to your trusted technician and he tells you that there is no fix, so you urgently need to buy a new one.

With great regret you go to your favorite department store and And you give the “card”, because it is already the end of the fortnight and it has been a hard month for your finances. However, a week later, you see that same product has a 40% discount. Sounds terrible, don’t you think? In addition, being an unplanned charge can lead to over-indebtedness problems.

You keep thinking about how good it would be if they returned that difference. And despite sounding like a story too good to be true, there are cards that under certain circumstances can give you that money back, it is known as price protection.

Of course, they are not all cards and there are certain restrictions and in this article we will explain how it works.

How to get your card back money?

How to get your card back money?

If you see written advertising or a notice on the Internet where it comes that the price of the product you bought has dropped in price, you can make the difference request. To be able to carry it out, you will have to contact your card customer service with the evidence about the price difference in the next 30 or 60 days to your purchase depending on the type of credit card. However, there are cards that do it automatically.

What items can apply?

What items can apply?

They include new items, which have been purchased in stores that are not considered auction, nor does it apply in the payment of services or if the price difference is linked to shipping prices for sale on the Internet.

In short, your washing machine, clothes, perfumes, books, cell phones and a host of products can apply whenever they are new and must be the same brand, model, year, name you purchased.

What types of cards have this benefit?

What types of cards have this benefit?

There are Visa and MasterCard cards that have the benefit of price protection on credit cards. The main feature is that they are platinum cards or more exclusive than a basic credit card and mostly charge an annual commission for use. Although there are not many that exist in the market, you can approach your bank to find one that apart from it, has other benefits according to your needs.

Our recommendations

  • If you would like to have this benefit on your credit card, do not forget to ask your issuer if the plastic you have or want to purchase has this benefit.
  • The cards that have the price protection are gold or platinum range, which usually charge commission, it is important that you keep this in mind.
  • Do not throw your vouchers or tickets and keep all the evidence you find of the price change to make it easier to claim your benefit.
  • Use the benefit with large purchases of products that are easy to locate in multiple stores or establishments.
  • Read the terms and conditions, so you don’t have a surprise.
  • When you see the advertising, avoid taking your request as the benefit expires days after the advertising has been published. You can take advantage of the sales and end of the season to claim your benefit.

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