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What the loss of credit card price protection means for consumers

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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2 REPLIES
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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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Senior 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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