How to Use Credit Card Price Protection & Top Card Offers

How to Use Credit Card Price Protection & Top Card Offers

credit card advice

Brittney Mayer
By: Brittney Mayer
Posted: August 1, 2018
Opinions expressed here are ours alone, and are not provided, endorsed, or approved by any issuer. Site may be compensated through the issuer affiliate programs.

It seems inevitable. You spend weeks comparison shopping for the best deal and finally, sure in your research, you confidently make your purchase. Then, not two weeks later, you see an ad for the exact same item — $50 cheaper.

If only there were a way to ensure you always got the best price, even after you’ve made your purchase. Enter: credit card price protection.

How It Works | Top Cards

How to Successfully Use Price Protection

A feature offered by a number of great credit cards, price protection essentially provides you with the ability to request a refund when you find an item you’ve recently purchased advertised for a lower price than the one you just paid.

Of course, there are some limitations on what can be claimed and how much you can claim per year, with some important variations between issuers. All price protection programs have caps on the amount you can receive per claim, as well as the total amount you can claim each cardholder anniversary year.

Furthermore, not every item will qualify for a price protection, with common exceptions like automobiles, jewelry, event tickets, non-US purchases, live plants and animals, and services (as opposed to items). Check your card’s benefits documentation to verify the details.

Chart of Credit Card Price Protection Programs

Provided your item meets the qualifications, you can file a claim with your issuer for reimbursement. Although the precise process will depend on the card and issuer, most price protection programs aren’t particularly modern, so you’ll likely need to call the company on the phone and physically mail in your documents.

The majority of programs will require the same basic documents to file a claim, including the original itemized sales receipt, your original card receipt (to prove you used the card for the purchase), and a hard copy (printed version) of the advertisement with the lower price.

Top Credit Cards with Price Protection

Since not every issuer offers price protection — and those that do may not offer it with every card — you’ll want to do a little homework before assuming your card offers it.

And, given the variations between issuers and cards, it makes sense to spend at least as much time shopping price protection programs as you do shopping for your purchases.

Discover | Citi | Mastercard

Discover Credit Cards with Price Protection

Discover’s price protection benefits extend to all of its cards, including the student and secured options, making it one of the more generous issuers when it comes to offering price protection.

Discover it® Cash Back Review

at Discover Card'ssecure website

EXPERT'S RATING
★★★★★
5.0
OVERALL RATING
5.0/5.0
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Receive FREE Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 14 months
0% for 14 months
13.74% - 24.74% Variable
$0
Good/Excellent
Discover it® Balance Transfer Review

at Discover Card'ssecure website

EXPERT'S RATING
★★★★★
4.9
OVERALL RATING
4.9/5.0
  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • 100% U.S. based customer service.
  • Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
  • Receive FREE Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 6 months
0% for 18 months
13.74% - 24.74% Variable
$0
Good/Excellent
Discover it® Miles Review

at Discover Card'ssecure website

EXPERT'S RATING
★★★★★
4.8
OVERALL RATING
4.8/5.0
  • INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles.
  • Earn unlimited 1.5x Miles for every dollar spent on all purchases all with no annual fee.
  • No Blackout Dates - fly any airline, stay at any hotel.
  • Redeem your Miles as a statement credit towards travel purchases.
  • Freeze your account in seconds with an on/off switch either on the mobile app or website to prevent new purchases, cash advances, and balance transfers.
  • Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 14 months
10.99% for 14 months
13.74% - 24.74% Variable
$0
Good/Excellent

To qualify for price protection from Discover, the entire purchase must have been made with your Discover card and the claim made within 90 days of your purchase. You’ll be limited to $500 per item and a maximum of $2,500 per year.

You’ll need to call Discover at 1-800-347-0213 or 1-800-DISCOVER to request a claim form, which will need to be completed and submitted within 30 days of the request.

Be sure to include your Discover card statement showing the purchase, the original sales receipt, and a printed copy of the advertisement with the lower price.

So long as your purchase meets the eligibility requirements and your claim contains the appropriate documentation, you should receive a reimbursement check in the mail within 15 days.

Citi Credit Cards with Price Protection

Citi has one of the most accessible and easy-to-use price protection programs in the form of the Citi Price Rewind, which is available to nearly all Citi-issued credit cards.

CITI® RATING
★★★★★
4.8
OVERALL RATING
0.0/5.0
  • Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% cash back as you pay for those purchases.
  • Earn $100 bonus cash back when you make $500 in card purchases in the first 3 months of account opening
  • Balance Transfers do not earn cash back.
  • Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • No categories to track and no caps on cash back.
  • No annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
14.99% - 24.99% (Variable)
$0
Excellent/Good
CITI® RATING
★★★★★
4.7
OVERALL RATING
0.0/5.0
  • The ONLY card with No late fees, No penalty rate, and No annual fee... EVER.
  • 0% Intro APR on Balance Transfers and Purchases for 18 months.
  • The same great rate for all balances, after the introductory period.
  • Save time when you call with fast, personal help, 24 hours a day - just say "representative"
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 18 months
0% for 18 months
15.49% - 25.49% (Variable)
$0
Excellent/Good
CITI® RATING
★★★★★
4.6
OVERALL RATING
0.0/5.0
  • Enjoy 0% Intro APR on purchases for 15 months from date of account opening and 0% Intro APR on balance transfers for 15 months from date of first transfer
  • Points are redeemable for gift cards to popular retailers, restaurants and department and home stores. 2,500 ThankYou® Points can be redeemed for a $25 gift card at thankyou.com
  • Earn 2X Points on dining out and entertainment
  • Earn 1X Points on all other purchases
  • No expiration and no limit to the amount of points you can earn with this card
  • No annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
0% for 15 months
15.24% - 25.24% (Variable)
$0
Excellent

To participate in Citi Price Rewind, you’ll need your original purchase receipt and an online Citi account. Once logged in, you can search the Citi Price Rewind database for an eligible item that was purchased within the last 60 days.

Once you select an item, you’ll be asked to provide details of your purchase and to upload a copy of your receipt. Then, Citi does the work for you, tracking your purchase and looking for a lower price on the registered item.

If Citi Price Rewind finds a lower price within 60 days of your purchase date, you’ll be notified via email. If you find a lower price on your own (within the same 60-day period), you can add the information to Price Rewind to submit a benefit request. Benefits are limited to $200 per item and $1,000 per calendar year.

While you’ll need to find the lower advertised price within 60 days of your purchase date, you actually have up to 180 days to file your claim, though you’ll still need all the specific documentation, including a printed copy of the advertisement with the sale dates included.

Mastercard Credit Cards with Price Protection

Although each tier of Mastercard credit cards can come with price protection benefits from the network itself, the extent of those benefits will vary based on the specific card issuer (e.g., Barclays, Capital One, etc.), so not every Mastercard product may offer price protection.

Barclays Arrival® Premier World Elite Mastercard® Review

at Barclays'ssecure website

EXPERT'S RATING
★★★★★
4.5
OVERALL RATING
4.5/5.0
  • 75,000 miles each year if you spend $25,000 on purchases
  • After that, keep earning unlimited 2X miles on every purchase
  • Global Entry – $100 automatic statement credit for the cost of one Global Entry application fee every five years
  • Book the best travel deal, no airline, seat or hotel restrictions, and redeem your miles for travel statement credits
  • Access to over 850 lounges worldwide with Mastercard® Airport Experience provided by LoungeKey, fees apply
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.74%, 21.74% or 24.74% variable based on your creditworthiness
$150 (waived first year)
Good/Excellent
Barclaycard Arrival® Plus World Elite Mastercard® Review

at Barclays'ssecure website

EXPERT'S RATING
★★★★★
4.5
OVERALL RATING
4.5/5.0
  • Enjoy 60,000 bonus miles after spending $5,000 on purchases in the first 90 days and paying the annual fee
  • Earn unlimited 2X miles on every purchase
  • Book travel your way—no airline, seat or hotel restrictions—and redeem your miles for travel statement credits
  • Get 5% miles back to use toward your next redemption, every time you redeem
  • No foreign transaction fees
  • International Chip and PIN for use at self-service chip terminals around the world
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
0% intro for first 12 billing cycles following each BT that posts within 45 days of account opening
17.74%, 21.74% or 24.74% variable based on your creditworthiness
$89
Good/Excellent
Barclaycard Ring® Mastercard® Review

at Barclays'ssecure website

EXPERT'S RATING
★★★★
4.3
OVERALL RATING
4.3/5.0
  • Enjoy a 0% intro APR for 12 months on balance transfers made within 45 days of account opening. After that, a variable 13.74% APR will apply
  • Low 13.74% variable APR on purchases and cash advances
  • No annual fee
  • No foreign transaction fees
  • International Chip and PIN
  • See Rates & Fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
See Terms
13.74% Variable
$0
Good/Excellent

To file a price protection claim with Mastercard you can go online or call 1-800-627-8372. You’ll need to file your claim within 60 days of your original purchase date when filing directly with Mastercard, though some issuers may offer more time (some Capital One cards will allow up to 120 days, for example).

Mastercard price protection benefits are limited to $250 per item, with a limit of four claims per year up to a maximum total of $1,000.

While Mastercard doesn’t have a hard-set rule on how long you can wait to file a claim after finding a lower advertised price, it does state, “Please file your claim as soon as you find any advertised lower prices on items purchased.”

A Good Tool for Getting the Best Price

Many shoppers have experienced the utter deflation of thinking they got a great deal — right up until they see an even better deal for the same item. And that feeling can sour future deals with the fear that it will happen again.

With a good credit card price protection program to fall back on, you can silence that niggling worry of missing out on the best deal — for good. Just be sure to understand the rules and restrictions of your card’s program to avoid any unpleasant surprises when you file a claim.