Black Friday Tip #1: Use a Credit Card with Price Protection to Save Even More Money!

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With Black Friday just a few weeks away and deals already starting, I am putting together many posts on tips to maximize your savings! This first tip is one of my favorites since it could potentially put some unexpected money back into your pocket after your purchase — as long as you use the right credit card to make your purchase! There are a few credit cards that come with Price Protection (this is different than Purchase Protection) and if the price of the item you purchased goes down within a set time period, your credit card will actually reimburse you the difference — up to 120 days later, depending on the credit card! So if you have a hunch that the item you are purchasing might in fact go down in price, make sure to use one of these credit cards:

MasterCard

For any World Elite MasterCard issued in the U.S., you’ll receive price protection benefit. So even if you have a Barclays or Capital One credit card which do not offer their own benefits, MasterCard will still have you covered — such as the Barclaycard Arrival Plus World Elite MasterCard and Capital One Savor Cash Rewards Credit Card (Learn More). Since it has to be a “World Elite MasterCard” and not a regular “MasterCard” this definitely limits the number of cards eligible, however, the cards do have this benefit win the award in having the most number of days to find a price reduction for your purchase.

Caps

  • Days for the price to decrease: 120 days after purchase
  • Refund difference cap: $250 per item
  • Refund cap per year: $1,000 per year

How to File a Claim

  1. Use your eligible card to charge the full amount of your purchase of the eligible item. Save all original receipts, both card paperwork and itemized store receipt.
  2. If you see the identical product by the same manufacturer advertised in print for a lower retail price within one hundred and twenty (120) days after the purchase, obtain and retain the original printed advertisement. Only items advertised by authorized dealers in the United States apply. Price differences involving manufacturer and/or merchant rebates, shipping and handling fees, and sales tax, if any, are not covered by the Price Protection benefit.
  3. Within ten (10) days of the printed advertisement, call our toll-free number at 1-800-553-7520. You will receive a claim form that details the necessary procedures to file your claim. Follow the instructions on the letter carefully. Return the completed claim form along with:
    • The original itemized sales receipt
    • The original card receipt demonstrating that the entire purchase was made on your eligible card, and
    • The original printed advertisement showing the item, sale date and/or date of the advertisement, lower advertised price, and advertising store name to: Card Benefit Services P.O. Box 2894 Great Falls, MT 59403

Items Not Covered

The Price Protection benefit does not cover the following items:

  • Advertisements posted on the Internet
  • Advertisements of cash-only sales, close-out sales, flea markets, fire sales, going-out-of-business sales, limited-quantity promotions, or liquidation sales
  • Advertisements of sales of seasonal or discontinued items including, but not limited to, holiday decorations
  • Animals and living plants
  • Boats, automobiles, and any other motorized vehicles and their motors, equipment, or accessories
  • Cell phone service agreements and cell phone contracts. • Items purchased for resale, professional, or commercial use
  • Jewelry, antiques, and collectible items, rare or one-of-a-kind items, special order items, custom items, or tailored items
  • Manufacturer and/or merchant rebates
  • Perishables, services, consumables, and limited-life items including, but not limited to, rechargeable batteries
  • Real estate and items which are intended to become part of real estate
  • Traveler’s checks, cash, tickets, credit or debit cards, and any other negotiable instruments
  • Items purchased outside of the United States
  • Items without a manufacturer’s U.S. warranty (warrantable items only)
  • Previously owned, sold “as is,” and refurbished items

Chase

Currently, you’ll only receive price protection with the following Chase credit cards. Keep in mind though that this list could always shorten next year, unfortunately. These cards offer the highest amount you can receive back per item and per year.

Caps

  • Days for the price to decrease: 90 days after purchase
  • Refund difference cap: $500 per item
  • Refund cap per year: $2,500 per year

How to File a Claim

  • File a claim online at www.eclaimsline.com or call 1-888-320-9656 within 21 days of the date of the advertisement
  • The Benefit Administrator will send you a claim form, you must submit a completed claim form and supporting documentation within 45 days of requesting the claim form
  • The printed or non-auction internet advertisement must include a description of an item identical to the one purchased along with the sale price, the store or dealer’s name and the date(s) the sale is in effect
  • Sale date in the advertisement must be within 90 days after the original purchase date

Items Not Covered

This is not an exhaustive list. Examples include:

  • Boats, automobiles, and any other motorized vehicles and their motors, equipment, and accessories
  • Cell phone service agreements and cell phone contracts
  • Items previously owned, sold “as is,” and refurbished items
  • Items purchased for resale, professional, or commercial use
  • Items purchased outside of the United States
  • Jewelry, antiques, collectible items, rare or one-of-a-kind items, special order items, custom items, and tailored items
  • Price differences involving manufacturer and/or merchant rebates, shipping and handling fees, and sales tax, if any

Citi

Citi offers price protection for all of their personal cards, which is great. Not only that, they will actually do the work for you! The Citi Price Rewind tool allows you to enter all your purchases and immediately they will try to find you a lower price. You can manually submit a claim as well if you find a lower price on your own. Example of Citi credit cards that come with this benefit include:

  • Citi Simplicity
  • Citi Premier
  • Citi Double Cash
  • Citi ThankYou Preferred

Caps

  • Days for the price to decrease: 60 days after purchase
  • Refund difference cap: $200 per item
  • Refund cap per year: $1,000 per year

How to File a Claim

  • Immediately after purchasing your item, find your item in the Citi Price Rewind tracker
  • Enter the purchase details and upload your receipt
  • Citi Rewind will search for a better price for 60 days from your date of purchase
  • If a lower price is found, you’ll receive an email so you can request the price difference
  • If you find a lower price yourself, you can also request the price difference and provide the following documents:
    • A copy of the itemized receipt for the item purchased.
    • A copy of the merchant’s advertisement with the lower price for the same item by the same manufacturer.
    • Effective date of sale (within 60 days of purchase)
    • Sale price
    • Model number and model year
    • Authorized dealer or merchant name
  • You have up to 180 days from the date of purchase to initiate a benefit request (although the better price must be found within 60 days of the purchase price)

Items Not Covered

The following items are not eligible for Citi Price Rewind:

  • Boats, cars, aircraft or any other motorized land, air or water vehicles and their original equipment. Tires are not eligible.
  • Items that can spoil or are consumable and need to be replaced after they have been used for a period of time such as food, fuel, batteries, medications, beauty products or personal care products.
  • Watches or jewelry including loose gems, precious stones, metals and pearls.
  • Tickets of any kind (e.g., for airlines, sporting events, concerts or lottery).
  • Travel arrangements of any kind (e.g., hotels, vacations rentals, or car rentals).
  • Collectable items; including but not limited to, antiques, coins, art, sports memorabilia or stamps.
  • Items purchased for resale use.
  • Plants or animals, including stuffed or mounted animals or fish.
  • Advice or services for a purchased item, such as product installation, labor, maintenance or repair.
  • Firearms or ammunition.
  • The lower-priced item requires a service contract, such as cell phones with a service contract.
  • The lower-priced item is offered at no cost, or the lower price includes a bonus, free offer, special financing or a rebate.
  • The lower-priced item is offered through a warehouse club where the merchant requires a customer to pay a membership fee.
  • The lower-priced item is a going-out-of-business sale item or from an internet auction site.
  • The item is returned, used, customized, altered, refurbished, or secondhand.

US Bank

US Bank offers a Best Value Guarantee only for the US Bank Cash 365 American Express Card. Although the benefits are not nearly as strong as the cards listed above due to the short timeframe.

Cap

  • Days for the price to decrease: 30 days after purchase
  • Refund difference cap: $250 per item
  • Refund cap per year: $1,000 per year

How to File a Claim

  • Call 855-327-1424

Items Not Covered

  • Animals and living plants
  • One-of-a kind items (including antiques, artwork and furs)
  • Limited quantity items
  • Items that the advertisement states can be purchased with cash only
  • Demonstration items
  • Going-out-of-business sales items
  • “Discontinued” items
  • Consumable or perishable items with limited life spans (such as, but not limited to perfume, light bulbs, non-rechargeable batteries)
  • Jewelry (including, but not limited to loose gems, precious stones, metals, and pearls)
  • Watches
    Services and additional costs (such as installation charges, warranties, shipping, taxes, or car rentals)
  • Rare and precious coins
  • Stamps
  • Used
  • Rebuilt and refurbished items
  • Cellular phones
  • Pagers
  • Tickets of any kind
  • Travelers cheques
  • Motorized vehicles (such as cars, trucks, motorcycles, boats, or airplanes) and their parts
  • Land and buildings
  • Negotiable instruments (such as promissory notes)
  • Cash and its equivalent.
  • Any store with an established best guarantee program
  • Price comparisons found on the internet do not qualify

Overall…

Making sure to use a credit card that offers price protection can ensure that you are actually getting the best possible price. While some stores will give you a price adjustment after a week or two of your purchase if you bring in your receipt, the credit cards give you a much longer time frame and the sale price can be at any eligible store (not the same store you purchased your item at). The item can have also been gifted or opened and you’ll still be able to receive a difference in the price as long as all of the other terms are met. While there is definitely some manual work to be done on your end, it could definitely be worth it for large ticket items.

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Comments

    • @poonam – Correct. Discover no longer offers price protection. And while Chase got rid of that benefit on many cards, there are still some cards that offers it.

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