What is/are the best credit card(s) for price protection? e.g. in terms of the number of days after purchase, retailer restrictions, max refund, etc.
I've read 28 Degrees Card is a good one using which you can claim up 12 months after purchase against any store in Australia.
Best Credit Card for Price Protection
nignucial on 31/01/2019 - 23:32
Comments
Just had a look at them online and couldn't find any mention of price protection anymore for new card applications…
But then I also did a search and found a page "implying" it's only available for new card holders before 25th February 2018.
I think you are right. I've had the card for years now but haven't heard they removed it for new customers.
I can't actually find anywhere that specifically states it has been removed. But unfortunately, it looks like it's not available any longer.
Maybe give them a call and ask anyway.
I'm surprised it lasted that long to be honest. It was/is a great perk of the card well above the competition.
I'm surprised it lasted that long to be honest. It was/is a great perk of the card well above the competition.
Indeed! Especially in that you can enjoy that with a no-annual-fee card with only $2000 credit limit at minimum.
@nignucial: Key differences between Coles pp insurance (for those lucky enough to have it) and 28D.
Coles has a max claim of $600 per item, needs to be beaten by the same Australian store, within 2 years of purchase.
28D has a max claim of $1000 per item, can be beaten by any Australian store, within 1 year of purchase.
Max claim for Coles across all items is $2k per year.
Max claim for 28D across all items is $5k per year.
Purchase things on 28D that are likely to have many competitors to price compete throughout the following year, like electronics.
Purchase things on Coles that are relatively unique to that store that have sales on sales on sales, like clothes from Myer.
If you don't already have it with Coles, 28D is the next best. You sacrifice a year of cover for being able to claim against any store's price reduction, which worked well for my purchase of a OnePlus 6T.
Agree 28 degrees. On top of that of u damage the item, u can make a claim on the repair cost using the insurance (eg cracked screen on phone)
How about GO Mastercard?
It's got the same insurance and offered by the same company as 28 Degrees. And a lower credit limit of $1000 too.yeah either Go or 28 Degree. They're the same.
I've got the Coles one, and the claiming process is painless, but as has been said above, I think the feature is gone now.
Agree — 28Degrees looks like the goer now.
Good to also note that price protection is also available on the Latitude Infinity, Gem & Go cards as well. Its the same one as the 28 Degrees Mastercard since they are all the same credit issuer.
Never knew such a product exists! I've got a question. Assuming I'm buying something with the 28 Degrees card from Amazon for $600. Come Black Friday, the price is reduced to $400, can I claim the $200 from 28 Degrees card? Is that how it works? What's the catch?
Correct, as long as the price drop has happened within 12 months of your original purchase, and is sold in Australia.
In your scenario, you would be refunded $200 by 28Deg.
Can you claim multiple times on the same item tho? say the item price keeps dropping over the 12 months.
Yes you can, however, you can only claim up to $1000 per item.
So let's say you bought a Tv for $2000 on Jan 1.
By March, the tv is on sale for $1800. You successfully claim back $200.
In July, there's a big EOFY sale and it's now selling for $1000. You successfully claim back $800.
Now in December, somehow it's now selling for $500. Even though it's still within 12 months, you have already claimed $1000 worth of price drops on the item and as such can't claim the additional $500 drop.
In saying that though, it's highly unlikely for something you buy to drop by over $1000 so it's rare for such a scenario to occur.
@Shekster: @Shekster: can I use the promotion price to compare? E.g: I bought a phone on eBay with $1000 using 28D card. After 10 months its price dropped to $500, and at the same time, eBay also runs a promotion of 20% off using a promotion code (PAPA20 for example). How much can I claim? $500 or $600.
Thanks.@Averell: If the code is applied to the product itself (ie. PAPA20 or whatever codes they use), then that's fine, you'll get $600 back. Doesn't apply if something else is used to bring the final checkout price down (eg. an ebay/paypal giftcard)
You need to add the insurance to your card first, if you haven't already
OMG I never knew of such thing before reading this post either.
Seems to me I missed out so much.
Of course seems great for anyone buying any goods like electronics or furniture or cars etc.But just a question though, this seems to suggest its $1000/item/initial transaction. Does that mean all grocery shoppers claim back the price of groceries too ? e.g. woolworths has Chicken for $10 normally, but one week they run special for $6 ? so does it mean can claim $4 on even groceries?
I still think there's a catch ? not sure what
I believe mine has a minimum claim amount of $10
I'm wondering whether the insurance is the same through all the latitude cards, does anyone know?
It looks like 28 Degrees's price protection insurance is no longer able to be added to the credit card.. What are our best options now?
That's sad… probably with us people from Ozb paying $0 fee for the insurance that it's not profitable
Does the Go MasterCard still offer it? Its still listed as a feature on their website
Not for new customers and valid for existing one.. that's my understanding
any updates now ? Spent the whole afternoon and could not find any good deals :(
Not to new customers, only for their current policyholders. Even though that site you linked doesn't actually say it is being offered to new customers, I can see how it might confuse some who are reading about 28deg for the first time since it sort of implies it will be available if you ask about it.
Also interested, is there any card with decent price protection now?
Have you managed to find anything? I'm also looking.
I'm looking too :)
Only thing i've found is like a suncorp card but their price protection is so rigid you'd rarely meet the criteria.
Does this feature just not exist on CC anymore?
Any updates here for cards?
Same here, has anyone found any other card with price protection?
Nah, they must be losing too much money on it haha, I know I bleed mine dry every year. I'm not expecting any new ones to come out, but if they do I'll probably hear about it on ozbargain and ill post about it here.
Coles MasterCard - 2 years