Price protection ensures Black Friday’s lowest prices now


With price protection, you can skip the Black Friday madness. Shop now, and if your purchase gets a bigger discount later, your card will cover the difference.

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Whether you are scoring early Black Friday deals online or waiting to shop till after the Thanksgiving family feast is over, price protection is a perk with many credit cards that can ensure you get the best price on that TV or hot toy this year.

My favorite price protection benefit, given how easy it is to use, is the Citi Price Rewind program available on Citi credit cards.

How Price Rewind works

You enter eligible purchases you made on your Citi credit card on the Price Rewind website and upload a quick copy of your purchase receipt. The website will track those purchases for 60 days in search of a lower price.

If Price Rewind finds a lower price at one of the hundreds of online merchants it monitors in those 60 days, you get the difference – up to $500 per purchase and $2,500 per calendar year. You can get the price difference in the form of a statement credit or a check. In either case, you don’t have to prove there is a cheaper price out there – Citi Price Rewind finds that lower price for you!

My family has saved hundreds of dollars this year by using Citi Price Rewind. While we typically let the website do all the legwork, if you happen to find a price lower than the site does – such as in a Black Friday ad – you can submit proof of that lower price to Citi and file your claim.

Although Price Rewind will cover most of your early Black Friday shopping items, there are a few exceptions, such as motorized vehicles, food, jewelry (though watches are eligible), animals, collectibles and tickets.

Citi says that from January to September 2017, the average Price Rewind payment was $30.04 and that Citi has returned over $12 million to cardholders.

Other credit cards offering price protection

While Citi currently is the only issuer with a website that tracks prices for you, many other credit cards offer price protection. A 2016 survey found that more than 4 of 5 credit cards offer at least one of four purchase benefits (extended warranty, purchase security, price protection and return protection), and 47 percent of cards offer price protection.

Video: Black Friday survival guide

Other rewards and cash back cards that offer price protection include Barclaycard Arrival Plus World Elite MasterCardDiscover it® Miles, and Capital One QuicksilverOne. However, in most cases the burden of proof of the lower price is on the customer.

As an example, the Chase Sapphire Reserve card offers a price protection benefit of up to $500 per item, and up to 90 days from purchase.

Sapphire Reserve cardholders open a price protection claim by submitting a copy of their original purchase receipt and documentation of the lower price from a printed ad or a nonauction internet advertisement to the card’s benefit administrator.

If your card offers price protection, you can call the number on the back of your credit card to get the process started or to learn more about the coverage specifics for your card.

While hunting for Black Friday deals can be fun, if you want or need something now, go ahead and get it if you can afford it. If your credit card includes price protection, you’ll know that you can get back the difference in the event that the price drops on Black Friday or in the next couple of months.

See related: Early holiday bonus miles on airline shopping portals, Tips for booking holiday flights using airline miles

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

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