Credit Card News
Advertising Disclosure is an independent, advertising-supported web site. receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Discover how credit card can protect purchases

Discover how credit card can protect purchases

Add to Favorites:
Discover how credit card can protect purchases

Most cardholders overlook the fine print in their card agreements. By looking at this and understanding the fine print one, would be in a better position to decide whether to use the credit card, debit card or cash. If one has a problem in understanding or finds it difficult to read the dense print, all one has to do is to call customer service and enquire about the features of the credit card. Ensure that they give the whole checklist of features and benefits, which could be helpful in the future. Usually, these claims come with a deadline. So first find out about the deadline and the caps, as well as the amount that could be recovered per claim.

The most common protections are:

How the extended warranty works?

Generally credit card companies extend the warranty on purchases for a period of one year, but that depends on the original warranty and the terms given there. For instance, AmEx gives an extra 90-day warranty over and above the 90 days coverage that is given. So if the warranty is for 4 years, then the extended warranty would be for a year.

It is the cardholder who generally makes a claim. However, there are banks that allow the recipients of gifts to make claims. But to do so, one would have to have the original warranty and all the documents necessary, such as the receipt and a photocopy of the card statement etc. However, one must watch out for the warranty offered by the retail merchant or the manufacturer, as that might be much longer than that offered by the credit card company.

How the price protection works?

If an expensive purchase is made in one particular week, and the same product is available at a lesser price a couple of weeks later, then what can one do? In such cases, although the store might not be able to compensate, the credit card company will be able to credit back whatever the difference is into the cardholder’s account. However, one has to carry proof of the lower price such as an advertisement or a sale circular. These rules don’t apply for other discounts or closeout sales.

How the purchase protection works?

This warranty only lasts for about two months after making the purchase. This offers customers protection when there is no warranty and if the product is stolen or broken. Banks may replace the item or credit the amount spent back into the account but there is a cap on this amount.

Add to Favorites:

Related News:

Citi Increases the Number of ATMS

By Dar Dowling, Posted: January 23, 2017

Citibank has just inked a new deal with Cardtronics, a ATM owner/operator, which will just about double the number of free ATMs in their U.S. network. Continue reading
Fifth Third Bancorp Upgrades App

By Dar Dowling, Posted: January 20, 2017

Fifth Third Bancorp has upped the ante when it comes to their mobile app, in terms of how many ways users can pay for merchandise – now letting them make payments with all of the available payment platforms. Continue reading
New Credit Card by Amazon and Chase

By Dar Dowling, Posted: January 19, 2017, Inc. and Chase have joined together to roll out the new Amazon Prime Rewards Visa Signature Card offering 5% back on all purchases. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Unlimited 1.5x rewards on every purchase, every day. For every $1 you spend, you earn 1.5x Miles.
For Excellent, Good Credit
You could turn $200 into $400 with Cashback Match™. We’ll automatically match all the cash back you earn at the end of your first year. New cardmembers only.
For Excellent, Good Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit