Price Matching Is a Credit Card Perk that Few Consumers Use

Have you seen the credit card commercials that hype a card’s price-matching feature? Some credit card companies offer to refund the difference when customers can show that the price on an item went down after they bought it with that credit card. This offer brings in more customers to those credit card companies, but it seems that relatively few customers actually use it.

Terms vary from MasterCard’s offer of up to $250 back if you find the product for sale at a lower price within 60 – 120 days, depending on the card used, to Discover’s offer of up to $500 back if you report the lower price within 90 days of purchase.

The only downside of using this perk is that, in order to receive these refunds, you must contact your credit card company and submit documentation. Some companies request your credit card statement, while others have a special form to fill out online. You will need to show the specific retailer, price, and date that price was offered.

Price matching can definitely save you money, so be sure to check with your credit card company about their price-matching policy. Consider saving any refunds you receive. You might put the money into an emergency fund to meet unexpected expenses.

Reference:

Hill, C. (2015, November 10). The Greatest, Most Underused Credit Card Perk. MarketWatch. Retrieved December 10, 2015, from http://www.marketwatch.com/story/story?guid=e4aee540-50a2-11e3-ad6e-00212803fad6&storyguid=e4aee540-50a2-11e3-ad6e-00212803fad6&siteid=nwhpf.