Mastercard return protection 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.
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 1-800-627-8372.
Here’s more info about the Mastercard purchase protection:
Overview: Mastercard purchase protection reimburses items purchased with an eligible Mastercard in case they get damage or stolen within 90-120 days of purchase, depending on the card.
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How much is covered: The typical coverage amount provided by Mastercard purchase protection is $1,000 per purchase and $50,000 per year, though it can vary by card.
What is covered: The policy will cover purchases made with an eligible Mastercard.
What is not covered: Some items will not be eligible for Mastercard purchase protection coverage. For example, things like animals and plants, motorized vehicles, computer software, perishables and collectible items are typically not eligible.
How to file a claim: To file a claim, call the Mastercard Assistance Center at (800) 627-8372. In addition, when you file a claim, you will need to provide supplemental documents for proof, such as store receipts, credit card statements, police reports and damage estimates (if applicable).
However, you should note that not all World or World Elite Mastercard credit cards have purchase protection (or “purchase assurance,” as Mastercard calls it). Each credit card issuer can choose whether or not to include the coverage on its cards.
The best way to find out if your existing Mastercard has purchase protection is to read the benefits guide you were sent after approval, which will also include instructions on how to file a claim. If you’re interested in a new card and want to know if it has purchase protection, you should look at the card’s description on the issuer’s website or call customer service.
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