4 Credit Cards That Offer Price Protection

Want to keep your credit card debt in check? Avoid charging these five things.

[Disclosure: Cards from our partners are reviewed below.]

Many credit card issuers offer a price protection feature that can help you save on purchases even after your transaction has been completed. When an item you purchased on your card is listed for a lower price within a certain time frame, cards with price protection may reimburse you the difference.

This can be especially valuable for big-ticket purchases, which frequently go on sale or fluctuate in price.

Here are four great credit cards with price protection.

1. Citi Simplicity

Rewards: None
Sign-Up Bonus: None
Annual Fee: $0
Annual Percentage Rate (APR): 0% APR for 21 months on purchases and balance transfers, then variable 14.99% to 24.99% APR.
Why We Picked It: This card features a fantastic 0% APR intro offer, and Citi’s price protection policy saves you the hassle of searching for a lower price.
Price Protection: With Citi Price Rewind, Citi will search hundreds of online retailers for a lower price on registered items bought with your Citi card. Citi may reimburse you the difference if a lower price is found within 60 days, up to $2,500 in price reimbursements per year.
Drawbacks: There are no rewards with this card.

2. Chase Sapphire Preferred

Rewards: Two points per dollar spent on travel and dining; one point per dollar spent on other purchases.
Sign-Up Bonus: 50,000 bonus points if you spend $4,000 in the first three months.
Annual Fee: $0 the first year, then $95.
APR: Variable 16.99% to 23.99% APR on purchases and balance transfers.
Why We Picked It: One of the best travel cards around also offers price protection.
Price Protection: Chase will reimburse you for eligible purchases if you find a lower price advertised in print or online within 90 days. You can receive up to $500 in reimbursements per item and $2,500 in total reimbursements per year.
Drawbacks: There’s a $95 annual fee.

3. Discover it Card – 18 Month Balance Transfer Offer

Rewards: 5% cash back on up to $1,500 in quarterly purchases in rotating bonus categories; 1% cash back on other purchases.
Sign-Up Bonus: Discover matches all cash back earned in the first year.
Annual Fee: $0
APR: 0% APR for 18 months on balance transfers and six months on purchases, then variable 11.99% to 23.99% APR.
Why We Picked It: This rock-solid cash back card also offers 90 days of price protection.
Price Protection: If you can find a lower price on an eligible purchase within 90 days, Discover will reimburse the difference on up to $500 per item.
Drawbacks: 
To get the best cash back value, you’ll need to track and activate bonus categories every quarter.

4. Capital One QuicksilverOne Cash Rewards Credit Card

Rewards: 1.5% cash back on all purchases.
Sign-Up Bonus: 
None
Annual Fee:
$39
APR: 
Variable 24.99% APR on purchases and balance transfers.
Why We Picked It: 
Even consumers with fair credit get cash back and price protection with this card.
Price Protection: Cardholders could be reimbursed the difference if they find a lower price on eligible purchases within 60 days. Capital One covers up to $250 per claim for a maximum of four claims per year.
Drawbacks: This card includes a high APR and an annual fee.

How to Choose a Credit Card with Price Protection

When evaluating a card’s price protection policy, always read the fine print. Most price protection policies apply only for a limited amount of time. Many card issuers place the responsibility of hunting for a lower price on the customer, and all price protection policies have a long list of exclusions.

For instance, Capital One’s price protection policy doesn’t cover jewelry, art, vehicles, pre-owned items, and more. If price protection is a priority for you, make sure the purchases you tend to make are actually covered.

Many card issuers that offer price protection extend that policy to some or all of their credit cards. That means you have a long list of cards with price protection policies to choose from. Make sure to consider all aspects of a credit card—including rewards, fees, APR, and other benefits—and how they align with your spending habits and financial goals.

What Credit Is Required for a Card with Price Protection?

Price protection is available to consumers with all kinds of credit. Before you apply for a credit card, check your credit score to make sure you meet the card’s requirements. You can check your credit report free at Credit.com. 

Image: opolja

At publishing time, Citi Simplicity, Chase Sapphire Preferred, Discover it, and Capital One QuicksilverOne Cash Rewards Credit Card are offered through Credit.com product pages, and Credit.com is compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved, or otherwise endorsed by the issuer(s).

Note: It’s important to remember that interest rates, fees, and terms for credit cards, loans, and other financial products frequently change. As a result, rates, fees, and terms for credit cards, loans, and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees, and terms with credit card issuers, banks, or other financial institutions directly.

The post 4 Credit Cards That Offer Price Protection appeared first on Credit.com.

The Forgotten Credit Card Perks That Could Save You Money

forgotten-credit-card-perks

Credit card companies love to publicize their huge signup bonuses and the rewards that consumers can earn when they use their card. These are the perks that can drive people to opt for one card over another. What you don’t hear are all the other benefits that come with many credit cards. While they might not be flashy, like receiving a four-figure signup bonus, they can be really beneficial to have.

Remember, it’s important to read the fine print thoroughly when vetting a card. Not only will this help you determine if the card is right for you, it will also familiarize you with the benefits you’ll have available should you get the card. It’s also a good idea to check your credit before you apply for some new plastic. That way, you’ll have an idea of what cards you can qualify for and won’t incur an inquiry on your credit report only to be rejected. (You can view two of your credit scores, updated every 14 days, for free on Credit.com.)

Now, let’s take a look at five different credit card perks that you might have forgotten, but can save you money.

1. Travel Insurance

Several credit cards offer different variations of travel insurance when you use the card to book your trip. To start, if your baggage is lost, stolen, or damaged, you can be compensated for the cost, up to a certain amount. This benefit tends to kick in when the airline itself will not cover the replacement cost. Some cards will also include baggage delay insurance, which will cover the cost to purchase incidentals, in case you make it to your destination before your luggage.

Your credit card might also come with trip cancellation and trip interruption insurance. If you trip is cancelled or delayed for an extended period of time, and you have non-refundable travel arrangements made, then you may be able to get compensated for the loss. The cancellation or delay must be caused by a qualifying reason like sickness or weather. One of the most generous cards for trip cancellation insurance is the Chase Sapphire Preferred card (see full review here), which has a benefit limit of $10,000.

2. Car Rental Coverage

Depending on your credit card, you might have either primary or secondary car rental insurance. Most cards will include anywhere from $25,000 to $50,000 worth of coverage. If your card offers secondary car rental insurance, you will be covered for anything that your standard insurance company will not pay for. However, if your card comes with primary car rental insurance, you could be completely covered in case of a loss, up to the benefit limit. With primary coverage, you can decline the car rental companies policy and you won’t need to inform your insurance company if an accident should happen. The Ritz-Carlton Rewards credit card, also from Chase, is one of several cards that offers primary car rental coverage.

3. Price Protection

How many times have you made a purchase only to find it on sale a week later? It can be a frustrating feeling. Luckily you might be able to avoid this annoyance by using a credit card for your purchase. There are several cards available that come with price protection. This will cover you in case the price declines on an item, usually within the first 60 to 90 days after purchase. You will be reimbursed for the difference in price. Check your benefits statement to see what the claim and/or lifetime limits are for your card. Two of the best cards for price protection are the Chase Freedom (see full review here) and the Discover It card. Both of these will give you 90 days for the date of purchase and have a limit of $500 per claim and $2,500 per year.

4. Extended Warranty

Every time you purchase electronics, appliances, or another big ticket item, the salesperson will ask you if you’d like to purchase an extended warranty. These tend to add a little extra protection over and above the manufacturer’s warranty. Depending on the credit card you use, however, you might have this built right in. Several credit cards offer extended warranty protection, giving you an additional one year after the manufacturer’s warranty expires.

5. Purchase Protection

Purchase protection will cover items that you buy against accidental damage and theft, usually within the first 90 to 120 days. There are exclusions to what is covered, so it’s important to check your card’s benefits statement to find out what your card offers. Most cards will cover anywhere from $500 to $1,000, but a card like the Platinum Card from American Express or American Express Premier Gold Rewards card will actually offer a benefit up to $10,000 per claim, $50,000 per calendar year.

At publishing time, the Discover it, American Express Platinum and American Express Premier Gold Rewards credit cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for these cards. However, this relationship does not result in any preferential editorial treatment.

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

Image: sanjeri

The post The Forgotten Credit Card Perks That Could Save You Money appeared first on Credit.com.