Best Credit Cards With Price Protection

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Credit Card Applications » Research » Guides » Cardholder Benefits » Price Protection: Credit Cards That Will Refund a Price Drop

Price Protection: Credit Cards That Will Refund a Price Drop


Updated: August 22, 2018

The content is accurate at the time of publication and is subject to change.
Price Protection Credit Cards That Will Refund a Price Drop

Those who often find themselves buying stuff and then discovering that they could pay less for the same item they've just bought, will appreciate this credit card benefit – price protection. This is the least known and the most neglected benefit that, however, can help save you hundreds of dollars annually.

Price protection is a credit card feature that allows you to refund the price difference. In other words, if you use your card to purchase an item and then find the same item at a lower price, you can cash in the difference. However, credit card price protection is not available with all credit cards. For example, Amex and Visa credit cards come without this benefit. Here are some of the credit cards and issuers that do provide it.

Discover

Discover will cover the difference if you find a better price after you've already bought an item using your Discover card. You have 90 days to start a claim. Discover will refund the difference up to $500 per item and $2,500 per year. Note that not all items are eligible for the Discover card price protection. For example, such items as computer components, power supplies, batteries, DVDs, video cassettes, CDs, audio cassettes, printed materials, or any other informational and recreational media are not eligible for coverage under price protection. To file a claim or ask questions, you should call Discover at 1-800-347-0213.

Citi

While the Discover cardmembers should do the search for lower price themselves, Citi offers Citi® Price Rewind. This service does a 60-day search for a lower price on your purchases. The service is absolutely free of charge. To start the search and submit your benefit request, you should go to the Citi Price Rewind website. Citibank Rewind covers up to $500 per item and $2,500 per year. Some items are not eligible for the refund. They include jewelry, food, cars, tickets of any kind, plants, animals, services, and some other items. The full list of purchases that are not eligible can be found on the Citi Rewind website.

Barclays

Not all Barclays credit cards cover the price difference. The cardholders of the Barclaycard Arrival Plus® World Elite Mastercard® credit card are definitely protected. You will have 60 days to file a claim. You can be refunded up to $250 per claim and you cannot start more than four claims per 12-month period. There also are exclusions to what is covered and here are some items that are not covered: used items, antique items, automobiles, plants, and some other items. You can call 1-800-627-8372 for assistance and for the complete list of uncovered items.

Capital One

Like with Barclays, not all Capital One credit cards come with the price protection benefit. The set of protections and benefits will depend on what kind of card it is – Visa or Mastercard. In fact, Capital One does not provide coverage, but it is provided by Mastercard. Therefore, all claims should be sent to this organization.

For instance, the Capital One® SavorOne℠ Cash Rewards Credit Card has price protection. The purchases are covered for 120 days from the date of the purchase. The coverage is limited to up to $250 per item, and there is a maximum of four claims per 12-month period. The items that are not covered are jewelry, used items, special-order items, any items purchased from an auction and some other items. To get more details about Mastercard Price Protection, call 1-800-MC-ASSIST for assistance.

Here's a quick comparison of the price protection benefit from major issuers:

Issuer Discover Citi Barclays Capital One
Maximum coverage per claim $500 $500 $250 $250
Maximum coverage per year $2,500 $2,500 $1,000 $1,000
Coverage window 90 days 60 days 60-120 days 120 days

Price protection is a good feature, but you should follow the rules to refund the price difference. In addition to the terms provided above, you should:

  • pay for an item with a credit card that has price protection;
  • track the price change (only Citi has the service that tracks the price of the registered item for you, in all other cases price protection is not automatic and you need to do all tracking and paperwork yourself);
  • file a claim within the allotted time period and provide all information required.

Price protection can save you hundreds of dollars per year depending on the coverage and purchases. Review your credit card benefits to see what you are covered for and if price protection is included. If not, you may want your new credit card to have this benefit.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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  • Bettie Stewart

    I applied for Barclaycard price protection twice and get the price difference both times. Good card

  • Bettie Stewart

    I applied for Barclaycard price protection twice and get the price difference both times. Good card.

  • JuliaJulia

    As far as I know, all citi cards offer price protection :-)

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