Unlock Price Matching Benefits with Your Credit Card: A Comprehensive Guide

Ever think you were scoring a great deal on an item only to see it marked down in price the next time you went to the store? While some stores offer price adjustments, it is hard to know which ones will honor a price drop, and for how long. (See also: 10 Stores With the Best Price Matching)

But if you bought your item with a credit card, your card might have its own price protection. Here’s how to use it.

See also: Awesome Credit Card Perks You Didn’t Know About

Before You Buy: Know Your Card’s Price Protection Plan

While many cards offer price protection, each has its own terms and rules. Look up your credit card’s price protection rules. If you cannot find it directly on the card's website, give them a call.

How to Apply for a Refund

After you make your purchase on your card, be sure to keep your receipt. Take a picture of it with your smartphone and file it in an easy-to-find folder. Next, you will want to continually be aware of price drops on your purchased item. Some cards offer price protection for 60 days and some for 90 days, so that’s how long you should be looking out for price drops.

Because of how big Internet business is, this can be a very trying task. Thankfully, several websites have made it easier to track price drops. All you have to do is put in the product name, URL, or the Amazon Standard Identification Number (ASIN) — a unique string of 10 letters or numbers that you can find on the product detail page. Here are just a few:

• SlickDeals Price Tracker
• The Tracktor
• Keepa
• CamelCamelCamel

Do I Have to Use My Credit Card for the Entire Purchase?

If you have a gift card you want to use for your purchase, check your card’s price protection details before swiping. You might be allowed to pay partially with the card, but that may affect the maximum refund granted on an item.

Exclusions May Vary

Each card will have its own set of exclusions, but most policies will not cover motorized vehicles and equipment/parts, antiques or collectibles, jewelry, items with service contracts (i.e. cell phones), and items that spoil (i.e. medications). You cannot price match items that will be used for resale or your business.

Most cards also have exclusions on what you can price match your item with. For example, you cannot price match your new Apple laptop with a price found on an auction site. You will also not be able to price match your new laptop with prices on used or refurbished prices, or going-out-of business sales. You will not receive reimbursement for shipping, taxes, rebates or warranties.

Knowing how to use the price protection on your credit card allows you to shop more confidently. (See also: 4 Surprising Reasons to Always Use Your Credit Card)