topic Re: Discover to end Price Protection 10/31/18 in Credit Cards

Discover to end Price Protection 10/31/18

pizza1 — Mon, 20 Aug 2018 17:44:12 GMT

Saw this on my current statements this month for both of my it and chrome cards.

Re: Discover to end Price Protection 10/31/18

Anonymous — Mon, 20 Aug 2018 17:42:49 GMT

Thanks for sharing @pizza1!

I didn’t look at my last statement.

Re: Discover to end Price Protection 10/31/18

Shadowfactor — Mon, 20 Aug 2018 17:50:17 GMT

Discover is just nerfing themselves to a uncompetitive edge.

While I admit I haven’t actually used price protection but I did have some purchases coming up that I would have used my discover card for that reason. Mostly electronics that I thought would have gone on sale for Black Friday.

Discover doesn’t have anything special anymore. It’s not a bad card for no AF but it’s certsinly lost a lot of its appeal recently. After the first year it’s just a very plain card that doesn’t offer much at all.

Re: Discover to end Price Protection 10/31/18

FinStar — Mon, 20 Aug 2018 18:10:52 GMT

I don't think it's lost that much appeal IMO if you take a look at attrition rates on the acquisition side of things.

On these forums, there's a mixed bag of cats as far as some things being scaled back, but what's evident is that it represents a relatively small fraction of the entire spectrum. Folks are not applying for a Discover card for those extra benefits (nice if included). Yet, they're still competitive in other areas which is why there's still around and ranked at the top by JD Power, for instance.

Re: Discover to end Price Protection 10/31/18

iced — Mon, 20 Aug 2018 18:24:04 GMT

I feel like it wasn't so long ago Chase also rolled back price protection on a card or two. It makes me wonder if there were enough people who really exploited this benefit to the point that banks are slowly abandoning it. It's one of those benefits that costs them nothing unless someone uses it, after all.

Re: Discover to end Price Protection 10/31/18

Anonymous — Mon, 20 Aug 2018 22:40:25 GMT

Discover has cut other benefits as well over the years. I had Discover in the past and got notices of benefits being removed. Cutting back benefits lowers expenses and increases profits. Discover feels like their rewards program is enough, unfortunately it isn’t.

Many other issuers are not cutting back on benefits and in fact help you sign up for services which help you find lower prices so you can get price protection. Since competition exists, Discover is just making the brand worse and gives less reason to choose them as an issuer.

Feel free to choose the product you want. Also remember, lots of issuers are adding benefits while a few are cutting benefits.

Re: Discover to end Price Protection 10/31/18

mongstradamus — Mon, 20 Aug 2018 23:35:30 GMT

@pizza1 wrote:
Saw this on my current statements this month for both of my it and chrome cards.

Ms Pizza always bringing us the bad news :-(

Re: Discover to end Price Protection 10/31/18

yfan — Mon, 20 Aug 2018 23:53:51 GMT

Gotta admit this bums me out a little bit. It was a pretty cool benefit.

Re: Discover to end Price Protection 10/31/18

pizza1 — Tue, 21 Aug 2018 00:16:25 GMT

@mongstradamus wrote:
@pizza1 wrote:
Saw this on my current statements this month for both of my it and chrome cards.

Ms Pizza always bringing us the bad news :-(

LOL @mongstradamus!! Oh Mongs...I only bring the bad news about half the time, hahah

Re: Discover to end Price Protection 10/31/18

jdbkiang — Tue, 21 Aug 2018 00:57:05 GMT

Which competitors offer price protection still?

Re: Discover to end Price Protection 10/31/18

mongstradamus — Tue, 21 Aug 2018 01:06:44 GMT

@jdbkiang wrote:
Which competitors offer price protection still?

I think my CSP still offers the 500 per item 2500 a year. I have never used it so i don't really know how well that works, but on paper I think that is what they offer.

Edit: Well I just noticed end of this month chase is dropping that feature also so there aren't many options for the price protection it seems like.

Re: Discover to end Price Protection 10/31/18

Anonymous — Tue, 21 Aug 2018 01:28:25 GMT

@jdbkiang wrote:
Which competitors offer price protection still?

Citi offers "Price Rewind" which I believe is price protection.

I was sad to see extended warranty go in February. With them dropping this it seems like all of their shopping protections are gone. I wonder if frog protection will be the next to go....

Re: Discover to end Price Protection 10/31/18

mongstradamus — Tue, 21 Aug 2018 13:58:09 GMT

@Anonymous wrote:
@jdbkiang wrote:
Which competitors offer price protection still?
Citi offers "Price Rewind" which I believe is price protection.

I was sad to see extended warranty go in February. With them dropping this it seems like all of their shopping protections are gone. I wonder if frog protection will be the next to go....

Citi is reducing theirs price rewind which is an issue 200 per item 1000 per year from 500 per item and 2500 a year.

Also can I get some of that frog protection we have some in our pond here lol

Re: Discover to end Price Protection 10/31/18

jdbkiang — Tue, 21 Aug 2018 08:54:49 GMT

Yeah, Chase is dropping it for their main cards. I still see it on the IHG and AARP cards though.