Does Mastercard offer purchase protection?

Mastercard price protection reimburses you when an item that you bought with your card goes on sale later. You can get back the difference between what you paid and the new sale price, up to $250 per claim. You are entitled to a maximum of four claims every 12 months. Note that only the … read full answerWorld and World Elite Mastercards offer this benefit.

Here’s how Mastercard price protection works:

• Mastercard price protection reimburses you for the difference between the price you paid for an item and a lower price you find afterward.
• You’re covered up to $250 per claim, and you can make a claim four times in a 12-month period.
• Mastercard price protection gives you 60 days to make a claim after buying something.
• World and World Elite Mastercard are the only levels that offer price protection and give you 120 days to file a claim.
• You must have a receipt and a print or digital advertisement with a date, the retailer name, and the sales price as proof.
• Purchases that aren’t covered by Mastercard price protection include jewelry, art, antiques, pre-owned items, custom-made items, plants, animals, items bought at auctions, and more. Read your benefits guide for the full details.

You can file a claim either online or by calling (800) 627-8372. Make sure to request a claim form within 60 - 120 days of making your purchase (depending on the card). Submit the form and any other requested documentation within 180 days of when the advertisement for a lower price was posted.

After you buy something with your card, always keep an eye out for lower prices. You could save yourself up to $1,000 total per year with Mastercard credit card price protection.

The main difference between Visa and Mastercard is that Mastercard is more widely accepted internationally, while Visa offers more standard credit card benefits. Most people won’t notice any difference between Visa and Mastercard because their services are largely on par. Visa and Mastercard are two of the largest payment networks in the world, but neither Visa nor Mastercard issues any cards. Banks and credit unions issue the cards, which are then used on the Visa or Mastercard network.… read full answer

Visa and Mastercard Differences by the Numbers

Both Visa and Mastercard ensure basic benefits with their credit cards, such as zero liability guarantees and lost card reporting. Additional perks may be available, depending on the credit card tier. Mastercard offers three benefit tiers with their cards: Standard, World, and World Elite. Likewise, Visa cards are split into Traditional, Signature, and Infinite.

Visa and Mastercard Basic Benefits Compared

On top of the standard benefits, World or World Elite Mastercard holders may get extra perks such as cell phone insurance and free hotel upgrades. On the other hand, people with a Visa Signature or Infinite card may enjoy special protections like lost luggage and trip delay reimbursement. However, having a top-tier Mastercard or Visa card won’t automatically give you access to all of these extra benefits, as that depends entirely on the credit card issuer.

Whether a card bears the Visa or Mastercard logo doesn’t make much of a difference in the end. The credit card issuer determines all the most important aspects of the card: interest rates, fees, and rewards. When picking a credit card, you should pay more attention to these features than the payment network.

Yes, Mastercard does offer return protection but this benefit is available on certain credit cards. The benefit reimburses the cardholder for undamaged, working items that cannot be returned to the merchant within 60 days of purchase. The Mastercard return protection benefit, which Mastercard calls a “Satisfaction Guarantee,” reimburses up to $250 per claim. It’s important to note that this benefit is not available on all Mastercard credit cards – just cards where the issuing financial institution chooses to include it.… read full answer

If your Mastercard includes return protection, the exact details of the coverage will be in the benefits guide that you received after approval. One key thing to note is that eligible items must come from a store that has a policy allowing customers to return or exchange items for at least 10 days after the date of purchase. In addition, you will need to provide the original store receipt and credit card statement showing the purchase in order to file a claim.

You can file a Mastercard return protection claim online or by calling Mastercard toll-free at (800) 627-8372.