Editorial Note: We earn a commission from partner links on Doughroller. Commissions do not affect our authors’ or editors’ opinions or evaluations. Learn more here.
There are few things in life as frustrating as making a major purchase, such as a big-screen TV, only to see it on sale two weeks later. You could have saved $150 if only you had waited.
Unfortunately, there is no crystal ball for determining when some items will go on sale. You either wait around, afraid to commit because you might miss out later, or you go through life frustrated again and again when you just miss a great deal.
The good news is that your credit card issuer may be able to put an end to this. Some credit cards come with a price matching benefit that allows you to shop with confidence, knowing that you can make up the difference if an item goes on sale after you buy it. In most cases, you must first take advantage of any price-matching benefits offered by the retailer where you made the purchase. But if they don’t offer price-matching, your credit card just may have your back.
What is Credit Card Price Protection?
Some credit card issuers are willing to refund you the difference in price if an item you buy goes on sale after you have made the purchase. Make sure you keep your receipt and that you can document the new, lower price. Most card issuers require you to prove your case.
Usually, you have to pay the entire price with the credit card in question if you want the price matching feature. Additionally, most issuers have caps on the amount you can claim, as well as time limits; you can’t claim price protection, for example, if an item goes on sale six months later.
4 Credit Card Issuers with Price Matching Benefits
If you are looking to protect your bank account from deal near-misses, here are four credit card issuers that offer price matching on some or all of their cards:
Discover has made some great improvements to its benefits and rewards programs in recent years, including the overhaul that resulted in the Discover it® Cash Back. One of the changes for the better includes the addition of a price matching program.
If an item you bought with your Discover card drops in price within 90 days of your purchase, you can claim a refund for the price difference. Discover limits the refund to $500. In order to file a price protection claim, you must call 1-800-DISCOVER.
It’s important to note that not all Chase credit cards come with price protection, so you should check your card benefits, or call the issuer, in order to determine whether you are eligible for this benefit.
Chase will reimburse you up to $250 per item (with a $1,000 per year cap) when you find a lower price within 60 days of your purchase. You need to include the printed ad showing the lower price, as well as your receipt, if you want to claim your price protection benefit. You have to move fast, because you are required to begin your claim within 10 days of the issue of the printed ad. Call 1-888-320-9656 to get the ball rolling.
Many of Citi’s credit cards offer price matching. Once again, it’s important to double-check to make sure your Citi card offers price protection.
Citi’s price protection program will refund up to $250 per item, up to $1,000 per year, on price drops within 60 days of your purchase. Make sure that the item is exactly the same, including model number and model year, if you want to take advantage of this perk. To start your claim, gather your proof and call 1-800-377-7200.
If you find an advertisement for a lower price within 60 days of your purchase, you might be eligible for a refund of the difference. You can make up to four claims per 12-month period, and you can receive a refund of up to $250 per claim. This is taken care of under the MasterCard price protection program, so you need to call 1-800-MC-ASSIST in order to file your price matching claim.