Buzz
Let’s say you recently splurged on that fancy espresso machine you’ve been eyeing. You’re enjoying your coffee, but then you notice it’s now $50 cheaper this week. Bummer! The silver lining is, if you used the right credit card, you may still be able to claim that price drop.
Certain credit cards provide price protection as a benefit. If you buy something with that card and the price drops within a specific period, you can request a refund—assuming the retailer doesn’t already offer a price reduction on their own (many do).
However, there are typically several restrictions. The time frame for a price drop generally spans 30 to 60 days, depending on the card. As ValuePenguin highlights, there are also limits on how much you can receive back, typically ranging from $250 to $500 per claim. They note:
Additionally, not all purchases qualify for credit card price protection. Most card issuers provide an extensive list of exclusions in the fine print of their benefit guides. Some of the most frequently excluded items include:
Vehicles such as boats, cars, and aircraft
Items like food, drinks, gasoline, or medications
Precious jewelry
Tickets for events like shows, flights, concerts, and sporting matches
Collectible items
Products intended for resale, rental, or professional and commercial purposes
Living beings such as plants or animals
Services provided by professionals
Refurbished, pre-owned, customized, or special-ordered products
Traveler’s checks, precious metals, coins, or any form of currency
That said, services like Paribus and Earny, both of which we’ve covered before, can help track your purchases and notify you if any of your items have dropped in price recently. Of course, you can also keep track of purchases on your own, using tools like CamelCamelCamel.
Once you notice that an item you’ve purchased has dropped in price, you’ll usually need to call your credit card issuer to request a refund. Here are the policies and contact numbers for some popular card providers:
Chase: 888-320-9656
Discover: 800-347-2683
Mastercard: 800-627-8372
Of course, they won’t just take your word for it. You’ll likely need to fill out a claim form, along with providing a receipt and proof of the price reduction. If you’re a Citi cardholder, you can submit a claim via their Citi Price Rewind website, where they’ll track the price for you.
