The Ultimate Guide to Credit Cards
Thursday, October 29, 2020

How to Use Credit Card Price Protection & Top Card Offers

Credit Card Price Protection

credit card advice

Brittney Mayer
By: Brittney Mayer
Updated: November 18, 2019
Advertiser Disclosure

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. This handy credit card perk can save consumers from frustration and buyer’s remorse by having the opportunity to purchase the item for the newly found lower price.

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.

Mastercard | Citi

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.

Chase Freedom Flex℠ Review

at the issuer'ssecure website

EXPERT'S RATING
★★★★★
4.9
OVERALL RATING
4.9/5.0
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent
EXPERT'S RATING
★★★★★
4.8
OVERALL RATING
4.8/5.0
  • Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
  • Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 15.49% - 25.49% variable APR after that
  • No foreign transaction fee
  • No annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
N/A
15.49% - 25.49% (Variable)
$0
Excellent, Good
EXPERT'S RATING
★★★★★
4.8
OVERALL RATING
4.8/5.0
  • One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 15.49%-25.49% variable APR after that
  • Pay no annual fee or foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
N/A
15.49% - 25.49% (Variable)
$0
Excellent, Good

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.”

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 Prestige® Credit Card Review

at the issuer'ssecure website

CITI® RATING
★★★★★
4.8
OVERALL RATING
4.8/5.0
  • Earn 50,000 bonus points after spending $4,000 within 3 months of account opening. That's a $500 value in travel, anytime, with no blackout dates when booked through the ThankYou Travel Center!
  • Earn 5X Points at restaurants and on air travel
  • Earn 3X Points on hotels and cruise lines, all other purchases earn 1X Points
  • Complimentary 4th Night at a hotel of your choice after a minimum 4 consecutive night booking through ThankYou.com (benefit can be used 2X per calendar year)
  • Up to a $250 travel credit every calendar year, no need to enroll
  • Enjoy complimentary access to hundreds of VIP lounges through Priority Pass™ Select
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
16.99% - 23.99% Variable
$495
Excellent
CITI® RATING
★★★★★
4.8
OVERALL RATING
4.8/5.0
  • Earn cash back twice! Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% - 23.99%, based on your creditworthiness. Balance Transfers do not earn cash back and will have a fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • 24/7 access to customer service representatives
  • $0 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
0% for 18 months
13.99% - 23.99% Variable
$0
Excellent/Good
Citi Premier® Card Review

at the issuer'ssecure website

CITI® RATING
★★★★★
4.8
OVERALL RATING
4.6/5.0
  • Earn 60,000 Bonus Points after making $4,000 in purchases with your card within the first 3 months of account opening
  • Earn 3X Points at restaurants, supermarkets, gas stations, and on air travel and hotel purchases — all other purchases earn 1X Points
  • Enjoy $100 off a single hotel stay of $500 or more, excluding taxes and fees, through thankyou.com, once per calendar year
  • Transfer ThankYou® Points to participating airline loyalty programs including TrueBlue®, Virgin Atlantic Flying Club, and Singapore Airlines KrisFlyer, to get flights faster. There is no fee, and the minimum transfer is only 1,000 points.
  • $95 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99% - 23.99% Variable
$95
Good/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.

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.

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