In today's article about retailers expanding their price matching policies during the holidays, I mentioned that consumers can get a price adjustment from the retailer at the point of sale or if they find a lower price on the identical item within a week or two (or 7 weeks during the holiday period).
But my partner reminded me of another way to get a price match--your credit card. I had forgotten about that, even though I tried unsuccessfully to use it on an American Express card a few weeks ago.
Besides the purchase protection, car rental insurance and extended warranty benefits offered free on most credit cards, some also offer complimentary price protection. According to the blog Credit Card Forum, a few credit cards still offer this service. American Express does not, even though they used to several years ago. Apparently, Amex dropped it because too many savvy shoppers were milking the credit card company when airfares would decline, according to the blog. "It's been gone since 2006. I think it's unlikely they will bring it back," wrote blogger Michael Dolan. Frequent fliers should keep this tip in mind on the cards that still offer price protection.
Credit card companies still offering the service include Discover, Chase and some Citicards. Discover will refund up to $500 for purchases made within 90 days. The Chase Freedom card with Visa and MasterCard versions offers coverage for up to $500 per claim and up to $3,500 per year maximum for purchases within 90 days. Citi's Thank You Preferred and Platinum Select/ AAdvantage Visa Signature cards also offer the benefit, according to Dolan. Citicards also have a free service called Price Rewind that will search online prices.
Check with your credit card now to see if it offers price protection and what you need to do to get a refund. That may motivate you to use the service.
