Does BankAmericard offer price protection?

The Bank of America price protection benefit reimburses cardholders the difference between the price originally paid for an item and a lower sale price advertised by another retailer within 60 - 120 days of the purchase date. Bank of America price protection does not cover certain items, such as art, real estate, and customized items.… read full answer

Note that Bank of America credit cards may offer it as part of the Visa or Mastercard benefits (depending on the card), but it is not guaranteed. So, make sure to check the guide to benefits that came with your card to see which perks are included.

What you should know about Bank of America price protection:

To be covered by Bank of America price protection, the cardholder must have paid for the item entirely using an eligible card or rewards earned with that card. The coverage has a limit of $250 per item, with an annual limit of $1,000 per account.

To file a Bank of America price protection claim, call the Benefit Administrator or visit the card benefits website. Make sure to request a claim form within 60 - 120 days of when the lower price was first advertised. Then, submit the form and any other required documents within 180 days of when you opened the claim. Some required documents include an itemized purchase receipt, the billing statement showing the purchase, and a copy of the lower-price advertisement. Refer to your benefits guide for complete details.

Bank of America purchase protection covers the damage or theft of new retail purchases made with an eligible Bank of America credit card. You are covered for 90 days after the purchase of an eligible item. The benefit will pay to repair or replace the item or reimburse the cardholder. You will be covered for up to the total purchase price or $10,000, whichever is less.… read full answer

Currently, the only Bank of America credit card with purchase protection is the Bank of America® Premium Rewards® credit card.

Here’s how to file a Bank of America purchase protection claim:

To make a Bank of America purchase protection claim, call (888) 221-3289 or visit the Card Benefit Services website within 60 days of the theft or damaging incident. To file a claim for stolen items, you must file a police report within 48 hours of becoming aware of the theft.

You can find a breakdown of Bank of America’s purchase protection rules on the Visa benefits website or in the benefits guide that came with your card. Note that some purchases aren’t eligible for Bank of America purchase protection coverage. These include plants, animals, antiques, motor vehicles (including boats), trailers, software, used items, and more.

The best credit card benefits are airport lounge access, statement credits for certain types of purchases, concierge services, hotel perks, initial rewards bonuses, and price/purchase protection. Not all of the best credit card benefits are available on every card, however. The higher your credit card’s annual fee, the more likely it is to contain these top-tier benefits.… read full answer

Large complimentary benefits packages used to come standard with many credit cards. But card issuers have been cutting out these perks in recent years, citing low usage. When shopping for a credit card, it’s a good idea to check the card’s latest benefits guide before applying. Below, we’ll cover the top perks to be on the lookout for in a bit more detail.

Here are 6 of the best credit card benefits:

1. Airport lounge access
   A handful of travel credit cards have this benefit, which is well worth an annual fee – if you actually use it. Cards with lounge access will grant you free entry into various airport lounges. And depending on the lounge, that could mean free food, drinks (including alcohol), Wi-Fi, charging stations, and even showers.
2. Statement credits for specific purchases
   Some credit cards reimburse cardholders for certain expenses, such as TSA PreCheck application fees, airport incidentals, restaurant purchases, subscription streaming services, and more. There’s nothing better than free money. That said, credit cards that offer statement credits for these things usually charge annual fees. So if you’re paying an annual fee on your credit card, don’t forget to check the benefits guide to see what purchases you might get reimbursed for.
3. Concierge services
   Though concierge service is among the lesser-used credit card benefits, many cards come with it. Depending on the concierge, they can help you make reservations at elite restaurants (even abroad), send you detailed maps of cities you plan on visiting, suggest places in a destination to store your luggage, or reserve presale tickets to events. Higher-end credit card concierges can do more, like help you find a sold-out gift for your spouse, or send a limousine to pick up your kids from school. No kidding.
4. Hotel perks
   If you’re a brand-loyal person who loves climbing the ladders of hotel loyalty programs, consider a branded hotel credit card. Some of these credit cards come with complimentary “elite” status, which can give benefits like free hotel nights and room upgrades.
5. Initial bonuses
   Some credit cards offer a rewards bonus for spending a certain amount in the first few months after opening an account. The average bonus amount is about 31,338 points or miles, or $230 in cash back. Spending thresholds for these bonuses usually range from $500 to $3,000. If you’re going to spend that much money on the card anyway, why not earn some extra rewards for it?
6. Price and purchase protection
   Though price protection and purchase protection benefits are becoming rarer these days, they’re still great perks to have on a credit card. Purchase protection basically insures certain purchased items in case of theft or damage for a number of days after you buy them, as long as you make the purchase with the covered card. Price protection, on the other hand, does the job of price-matching after you make a purchase. In other words, if you find an item advertised for a lesser price than what you paid for it within 60-120 days of your purchase, the card issuer will refund you the difference.

Those are just a handful of the many benefits that credit cards provide. Be sure to research and compare credit card benefits before sending in an application.