The Ultimate Guide to Credit Cards
Thursday, December 12, 2019

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
Updated: November 18, 2019

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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.

EXPERT'S RATING
★★★★
4.3
OVERALL RATING
4.3/5.0
  • 3% Earnings on purchases at gas stations, restaurants, and office supply stores; 1% Earnings on all other purchases; plus, 5% Earnings on purchases of GM parts, accessories and service at authorized GM dealers - all of which can be exclusively redeemed toward the purchase or lease of an eligible, new Chevrolet, Buick, GMC or Cadillac vehicle
  • No annual fee, no limit to how much you can earn and redeem, and your Earnings don't expire on an open Account; plus, a 0% Intro APR on purchases for the first 12 months and a variable APR of 18.74% after that
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% intro on purchases for 12 months
N/A
18.74% Variable APR
$0.00
Excellent
EXPERT'S RATING
★★★★
4.0
OVERALL RATING
4.0/5.0
  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • Access to an authorized bank account is required to make your $49, $99 or $200 refundable security deposit
  • Make the minimum required security deposit and you'll get an initial credit line of $200. Plus, deposit more money before your account opens to get a higher credit line
  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
26.99% (Variable)
$0
Limited, Bad
Milestone® Mastercard® - Less Than Perfect Credit Considered Review

at the issuer'ssecure website

EXPERT'S RATING
★★★★
4.0
OVERALL RATING
3.9/5.0
  • Prequalify for a card today and it will not impact your credit score
  • Less than perfect credit is okay
  • Mobile account access at any time
  • Protection from fraud if your card is stolen
  • Account history is reported to the three major credit bureaus in the U.S.
  • *Dependent on credit worthiness
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
24.9%
$35 - $99
Bad, Poor Credit

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® 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.
  • Receive 0% for 18 months on balance transfers made within 4 months of account opening
  • Balance Transfers do not earn cash back; transfer fee applies
  • 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
  • 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
0% for 18 months
15.74% - 25.74% (variable)
$0
Excellent/Good
CITI® RATING
★★★★★
4.7
OVERALL RATING
0.0/5.0
  • No late fees, No penalty rate, and No annual fee... EVER.
  • 0% Intro APR on Balance Transfers for the first 21 months (transfers must be made in the first 4 months)
  • 0% Intro APR on new purchases for the first 12 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 12 months
0% for 21 months
16.99% - 26.99% (Variable)
$0
Excellent/Good
CITI® RATING
★★★★★
4.6
OVERALL RATING
0.0/5.0
  • Earn 15,000 bonus points after you spend $1,000 on  net new purchases with your card in the first 3 months of account opening
  • Enjoy 0% Intro APR on purchases and balance transfers for 15 months; balance transfers must be made within 4 months of account opening
  • 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 at Supermarkets and Gas Stations
  • Earn 1X Points on all other purchases
  • Round-up to the nearest 10X points on every purchase
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
0% for 15 months
15.74% - 25.74% (Variable)
$0
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.