the credit card clause that returns the difference when the same product is found cheaper

Sometimes the satisfaction of getting a good deal is when you find the same item you bought at a higher price elsewhere. However, this can be reversed, and those headphones you bought for $77 at one store can be $38 at another store down the block. The bad drink can be resolved if the customer in question made the purchase with a card whose stamp offers “price protection.”

Two of the most widespread stamps in the country, Visa and Mastercard, include price protection among their benefits. This option compensates for the price difference up to the corresponding maximum insured amount. As they told Coffee & Business from Mastercard, in the case of your Platinum card —the only one of the label that includes this benefit—the amount covered is a minimum of US$50 and up to US$500 in each episode or up to US$2,000 annually.

At the same time the purchased product must be new. If the promotion of the same item at a lower price was found in a print advertisement within 45 days of the purchase, the stamp reimburses the difference. In the event that the price has been published online, the deadline to claim is seven days after purchasing the product.

The benefit in the case of Visa is valid for certain purchases made entirely with Visa payment products in the categories Classic, Gold, Platinum, Signature e Infinite.

on the visa Classic reimbursement is up to US$200 per event, with a maximum of four events in a year. on the visa Gold the maximum amounts to US$ 400, in the Platinum y Signature up to US$ 500 and in the Visa Infinite up to US$4,000 per event—in the case of the latter card, the issuing bank can decide whether to increase the amount up to US$6,000.

What things are not included?

Before claiming a refund of the difference, it is important to verify that the purchased item is not included in the exclusions determined by the stamps.

In the case of Mastercard, the excluded items are: cash; transport tickets; tickets to shows; art, antiques, firearms and collectibles; furs, jewelry; any perishable items (food, drinks, tobacco, and fuel); pharmaceutical and medical products; motorized vehicles including automobiles, boats, and airplanes.

Broadly speaking, in the case of Visa, what has been purchased for resale or commercial use is not included. Nor are used, old, recycled, adulterated or personalized items included.

Among the products that cannot be claimed from Visa are collectibles, works of art and antiques.

Items advertised as “limited quantity,” “bankruptcy sales,” “cash only,” “closing,” or the like are also not covered by the benefit; nor are consumables or perishable products and motor vehicles are not in the categories covered by price protection.

Property, plants or animals and airfare are not included. Other more specific exclusions and benefit conditions can be found on the Mastercard and Visa websites.

How to claim?

In order to request a refund of the difference paid, the cardholder must have kept their purchase receipts, the original and legible copy of the advertisement evidencing the price difference, and also have their account statement. The claim can be initiated on the websites of both mentioned labels.