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What the loss of credit card price protection means for consumers

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Valued Contributor

What the loss of credit card price protection means for consumers

Article from credit.com discussing how and why some leading issuers are discontinuing price protection as a benefit on their cards. It appears that a major reason for this is that price protection is not really a high priority for most customers as opposed to low APR, cash back and no AF:

 

http://blog.credit.com/2018/09/loss-of-credit-card-price-protection-186335/

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Senior Contributor

Re: What the loss of credit card price protection means for consumers

Price protection means that if you purchase a product and the price goes down within a set number of days you are refunded the difference. I suspect that this is expensive and difficult to manage "perk" which is why some issuers are discontinuing it. I know I've never used it, but I'm sure it has been abused/used by some. 

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Super Contributor

Re: What the loss of credit card price protection means for consumers

A lot of it is bots. People allow apps to scan their emails, and the apps identify purchases and file the relevant claims. The app takes a cut of any savings and it's all automated.

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