You buy something. It goes on sale three days later. You scream into the void. We’ve all been there and that’s exactly why credit card price protection exists. It’s one of those sneaky-good credit card perks that no one tells you about until after you’ve already missed out on a refund. But if you use it right, it can save you serious money with almost no effort.
If you’ve ever kicked yourself after seeing a price drop right after checkout, it’s time to get familiar with credit card price protection. How it works, which cards offer it, and how to file a claim with ease.
MoneyLion can help you explore a wide variety of credit card options tailored to different needs and preferences. Learn what you could qualify for!
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What is the credit card price protection?
Credit card price protection is a benefit that pays you back the difference when something you buy drops in price later. If you purchase an item and then find it selling for less within a certain time period (usually 60 to 90 days), your credit card company will refund you the price difference.
For example, if you buy headphones for $200 and see them on sale for $150 two weeks later, you could get $50 back from your credit card company without returning the headphones, and subject to any limits and exclusions set by the card’s terms.
This feature works separately from store price matching and requires you to file a claim with your credit card company when you find a price adjustment after purchase.
Not all credit cards offer this money-saving benefit, so check your card’s benefits guide to see if you’re covered.
Price protection vs. purchase protection
Don’t confuse these two similar-sounding perks—they solve completely different problems:
Price protection is your discount-catcher, refunding the difference when prices drop after qualified purchase.
Purchase protection is your item guardian, covering replacement or repair costs if your new purchase gets damaged or stolen within a certain timeframe (typically 90 to 120 days).
While many premium cards once offered both benefits together, price protection has become increasingly rare in recent years. Cards from Capital One and select credit unions are among the few still offering some of the best purchase protection credit cards so check your card benefits guide carefully.
How does credit card price protection work?
Here’s the general idea: buy something with your price protection credit card, keep your receipt, monitor the price for the next 60 to 90 days, depending on your card’s policy, and if it drops, file a claim.
Each card has its own rules, but most require:
- Proof of the original purchase (like your receipt or credit card statement)
- A copy of the ad or listing showing the lower price
- A completed claim form submitted within the required time frame
Some credit cards offer automated tools or third-party services to help monitor for credit card price drop protection. But most of the time, it’s up to you to track prices and submit the claim yourself.
What’s covered by credit card price protection (and what’s not)
Credit card price protection typically covers most standard retail purchases, but there are important exclusions and limitations. For starters, the price drop must usually be identical to your original purchase (same model, color, and size) and advertised by a legitimate retailer.
Also, most programs won’t cover:
- Items purchased with special financing
- Refurbished or used products
- Seasonal or clearance items
- Certain categories like food, plants, or tickets
- Price drops during major shopping events like Black Friday
Most issuers also set maximum refund limits n- typically $200-$500 per claim and $1,000-$2,500 annually. The best way to confirm your specific coverage is to review your card’s benefits guide or contact customer service directly.
How to file a claim for credit card price protection
Filing a claim doesn’t have to be a headache. The exact process will depend on your credit card issue, but here’s an overview of the basic steps.
👉🏻 Step 1: Review your card’s price protection terms. Look for coverage limits, eligible retailers, and the timeframe in which you can file a claim.
👉🏻 Step 2: Save your original receipt and credit card statement showing the purchase. You’ll need both to prove you bought the item and paid the original price.
👉🏻 Step 3: Monitor for a price drop. If you see a lower advertised price on the same item within the allowed window, take a screenshot or save the ad.
👉🏻 Step 4: Complete the claim form from your credit card issuer. This can often be done online, and you’ll upload your supporting documents.
👉🏻 Step 5: Submit everything within the timeframe, usually 60 to 90 days after purchase. The review process may take a few weeks, but if approved, you’ll see the refund as a statement credit or check.
Best credit cards for price protection
Price protection isn’t as common as it used to be, but some cards still offer it or have in the past. Always verify current benefits, as issuers change terms frequently. Here is a list of some of the best cards for price protection.
1. Best Overall: Capital One Savor Cash Rewards Credit Card
The Capital One Savor Cash Rewards Credit Card is one of the few credit cards out there that still offer price protection. You can get the difference between the purchase price and a lower price you find refunded within 120 days of the purchase. The coverage has a limit of $250 per item, with an annual limit of $500.
2. Best for Travel: Capital One Venture Rewards Card
The Capital One Venture Rewards Card does not offer price protection for general purchases. However, it does offer price drop protection for flights, hotels, and rental cars booked through Capital One Travel. This benefit provides a travel credit if the price of your booking drops within a certain timeframe.
3. Best for Everyday Use: Capital One Walmart Rewards® Mastercard®
The Capital One Walmart Rewards® Mastercard® offers price protection, which reimburses you for the difference between the price you paid for an item and a lower price you find within 120 days of purchase. You can claim up to $250 per eligible item, with a maximum of four claims per year. The card also offers other benefits like purchase protection and extended warranty.
Don’t Overpay If You Don’t Have To
Credit card price protection is one of those under-the-radar perks that can quietly save you hundreds if you know it’s there and how to use it. From scoring refunds on that TV that went on sale the day after you bought it, to recovering the price difference on a last-minute holiday gift, this benefit rewards the diligent shopper.
So if you’re serious about maximizing every dollar, consider using a credit card with price protection and stay alert to deals that drop after checkout. A few minutes of follow-up could mean real money back in your pocket.
FAQs
Do all credit cards provide purchase protection?
No, not all cards offer purchase protection and even fewer offer price protection. Always check the card’s terms before applying.
Is the credit card price protection benefit worth it?
Yes, if you shop frequently and monitor prices, the benefit can lead to valuable refunds on qualifying purchases.
How long do you have to file for a credit card refund?
Most cards allow between 60 and 90 days from the original purchase date to file a price protection claim.
Is there a limit to how much you can get back from price protection?
Yes, most credit cards cap the refund per item (for example, up to $250) and per year (for example, up to $1,000). Always verify your card’s coverage limits.
