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.
