Every year, leading up to the holiday season, we do a story on how to get the best price for your purchases (during the holidays and year-round) by taking advantage of a lesser-known credit card insurance known as price protection. Yet this year, it seems that Ebenezer Scrooge has had his way with this once-excellent shopping benefit.
As a refresher, price protection is an insurance that covers price drops, insomuch that cardholders can be reimbursed the difference in price on most products if recorded at a lower price in a printed advertisement at any retail store or nonauction Internet advertisement. Over the years, many of us saved big bucks—even thousands—thanks to screenshotting ads of Black Friday and end-of-year sales on televisions, computers, and big-ticket items.
Well, with Barclay’s new guide to benefits released on November 1, 2019, price protection officially died. The Luxury Cards—Mastercard® Black Card™, Mastercard® Gold Card™, Mastercard® Titanium Card™—were the last men standing. These cards had offered up to $1,000 per year back through price protection.
Citi Prestige and Citi Premiere, which also provided up to $1,000 per year back through price protection also known as the wildly popular “Citi Rewind,” eliminated the benefit in September 2019 (and that was after scaling down the benefit from $2,500 the year prior). In late 2018, Chase Sapphire Reserve® and Chase Sapphire Preferred®, which previously had a generous price protection policy up to $2,500 annually, also ditched this benefit completely. The Platinum Card® from American Express and the American Express Gold Card revoked this benefit long ago. U.S. Bank Altitude Reserve Visa Infinite® Card never offered it.
It doesn’t seem that price protection will get any type of reboot as credit card companies complained of losing too much from the policy over the years. Bah humbug!