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Ever had the experience of buying something, only to see it advertised at another store or online for a better price? If you made the purchase with a card that offers price protection, there is every chance you can recoup the difference in price. While cards offering price protection are not as common as they once were, there are still plenty of options available, including a few that don’t charge an annual fee.
Unfortunately, many card issuers including Barclays, Discover, Chase, and Citi have devalued or removed price protection policies over the last couple of years.
- Discover scrapped price protection benefits on all cards on October 31, 2018.
- Chase removed price protection from the majority of its Visa cards at the end of 2018, with the Sapphire Reserve Guide to Benefits stating the benefit was dropped as of August 26, 2018. There are now just a handful of United co-brand cards counting price protection as a benefit.
- Mastercard removed price protection mid-way through 2019, although some issuers still retain price protection on select cards.
- Citi culled its Price Rewind benefit on all cards from September 22, 2019.
- Barclays removed price protection on all cards on November 1, 2019.
Ancillary benefits such as price protection don't sound quite as sexy as free flights or five-star hotels, but there's every possibility you’ll receive more dollar value from card benefits than credit card rewards over the life of your card.
Provided you know what items your card covers, and you can navigate the claims process, price protection can potentially save you thousands of dollars per year.
What Is Price Protection and How Does It Work?
At its core, price protection is price matching for items you purchase using your credit card. If you find a lower advertised price for exactly the same item within the specified timeframe, the card issuer will refund the difference.
The policies are effectively the same as low-price guarantees offered by retailers, covering items purchased in the U.S. using an eligible credit card. The claim windows range from within 30 days of purchase on the low end, up to 90 days from the date of purchase at the high end. There are plenty of restrictions on what you can claim, and limitations on the dollar value and number of claims you can make each year, which we dig into in more detail below.
Credit Cards Offering Price Protection Policies
We’ve only included credit providers and specific cards that we could find written price protection policies for, either in guides to benefits or covered on the issuer’s website, and included updates when new policies are announced. If we’ve missed a card and you can provide links to a price protection policy, please get in touch via the comments so we can get it added to the list.
|Credit Provider||Cards Offering Price Protection||Max Claim Value||Claim Window||Example of Policy|
|Barclays||Barclays removed price protection from all cards on November 1, 2019.||N/A||N/A||N/A|
|Capital One||Capital One provides price protection on four Visa Business Signature cards:|
Capital One® Spark® Cash for Business
Capital One® Spark® Cash Select for Business
Capital One® Spark® Miles for Business
Capital One® Spark® Miles Select for Business
|Up to $500 per item and $2,500 per year||60 days||Spark Cash Guide to Benefits|
|Chase||Chase now only offers price protection on four United co-brand cards:|
United℠ TravelBank Card
United MileagePlus® Club Card
United Club℠ Business Card
United MileagePlus® Presidential Plus℠ Card
|Up to $500 per item and $2,500 per year||90 days||"If a MileagePlus Presidential Plus Card purchase you made in the U.S. is advertised for less in print or online within 90 days, you can be reimbursed for the difference up to $500 per item and up to $2,500 per year."|
|Citi||Citi no longer offers price protection (Price Rewind) on any credit card.||N/A||N/A||N/A|
|Wells Fargo||Wells Fargo Visa Signature® Card||Up to $250.00 per item and $1,000.00 per year||60 days||Wells Fargo Visa Signature Price Protection|
|U.S. Bank||U.S. Bank Cash 365™ American Express® Card||Up to $250 per item and $1,000 a year per account||30 days||U.S. Bank Amex Price Protection|
You’ll notice some pretty big players in the credit card space are missing off this list, including Discover, American Express, Citi, and Bank of America. That's because they don’t offer price protection on any of their card products.
What Purchases Are Excluded from Price Protection?
The list of exclusions differs for each provider but is fairly consistent across different cards from the same issuer. Common exclusions include:
- Boats, cars, or any motorized vehicle (motorbike, truck, tractor, etc)
- Cell phones purchased on contract or as part of a service
- Secondhand or refurbished items
- Any item purchased to resell for profit or for commercial use
- Items purchased outside the U.S.
- Collectables, jewelry, rare, custom, or tailored items
- All fees and taxes, rebates, or incentives from the manufacturer
- Any kind of live animal
This is by no means an exhaustive list, for precise exclusions on each card you’ll need to read the credit card guide to benefits. If you’re unfamiliar with your card benefits, we’ve compiled a handy list of guides to benefits from major credit providers.
Which Card Issuer Provides the Best Policy
With Barclays' ending price protection benefits, Chase wiping the benefit from most Visa & Mastercards cards, Discover removing the benefit from its listed card benefits, and Citi cutting the Price Rewind benefit completely, the best card for Price Protection depends on your needs.
The United co-brand cards like the United MileagePlus® Club Card listed above provide both the equal-highest return and the longest reporting period. Or, you could use one of the more versatile travel cards from Capital One like the Capital One® Spark® Miles for Business, which earns transferable rewards and typically provides a better return on non-bonus spending. Wells Fargo and U.S. Bank also offer viable alternatives in this dwindling area of credit card purchase protection.
- 50,000 Miles once you spend $4,500 on purchases within 3 months from account opening; worth $500 in travel if redeemed for a fixed-value, or potentially much more when transferred to airline partners
- 2 Miles per $1 on every purchase, everywhere
- 5 Miles on hotel and rental car bookings through Capital One Travel℠
- Fee credit for Global Entry or TSA Pre✔® (up to $100)
- No foreign transaction fees
- $0 intro for first year; $95 after that
- 2 Miles per $1 on every purchase, everywhere.
- 5 Miles on hotel and rental car bookings through Capital One Travel℠
How to File a Price Protection Claim
- Capital One – Call 1-800-397-9010 to request a claim form and return with the required documents to – Card Benefit Services, P.O. Box 2894, Great Falls, MT 59403
- Chase – Call the Benefits Administrator on 1-888-880-5844 within 21 days of the advertised lower price and return all required documents within 45 days
- U.S. Bank – Call 1-855-327-1424 to initiate a request for a refund
- Wells Fargo – Contact the Benefits Administrator on 1-800-553-7520 within 10 days of finding the lower advertised price
If you haven’t used the price protection policy on your credit card(s), you're potentially missing out on hundreds of dollars a year in savings. Provided the items are an exact match, and the claim meets all the issuers' criteria, the process is relatively straightforward, and you can rest easy knowing that if there is a sale on the item you’ve just purchased, you can claim back the difference.
If you’ve had experience making a price protection claim through your credit provider, we’d love to hear from you in the comments below.
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