No, the Sears Credit Card does not have return protection coverage. Return protection is a benefit that offers reimbursement for undamaged, working items purchased with a credit card that cannot be returned to the merchant within a certain number of days of purchase. This benefit is becoming rarer as time goes on, however, as many issuers have dropped it to cut costs.
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:
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.
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.
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.
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.
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 31,950 points or miles, or $215 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?
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.
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.… 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 1-800-627-8372.
Visa return protection covers cardholders who want to return eligible purchases worth $300 or less, provided the original merchant won’t accept a return. By notifying the Visa return protection Benefit Administrator of the issue within 90 days of the purchase, covered Visa cardholders can start the process of getting a refund. To complete their request, cardholders must submit a completed claim form along with supporting documentation within 30 days of notifying the Benefit Administrator.… read full answer
How to Use Visa Return Protection
File a claim with any other insurance policy that might cover the product. Visa’s return protection benefit is secondary insurance, covering only what other applicable insurance won’t. If an alternate insurance plan reimburses you for the full price of the product, the Visa return protection benefit will not apply.
Call 1-888-221-3289 or go to the Card Benefit Services center to file a claim with Visa. You’ll likely need the merchant’s return policy, an itemized receipt, and the Visa card’s billing statement from the month of the purchase.
Follow the Benefit Administrator’s instructions for shipping the item. Card Benefit Services must receive the item in good working condition before a claim can be approved. The item must also be in its original packaging with any owner’s manuals and warranty information included. You are responsible for all shipping costs.
There are many eligibility restrictions and other guidelines for filing a claim, so refer to the benefits guide that came with your card to determine whether return protection covers your purchase.
Return protection is a standard benefit for Visa Infinite credit cards, Visa’s highest consumer card tier. That said, each bank and credit union that issues credit cards on the Visa network decides whether to include this network benefit on its cards. It is therefore possible to find return protection on traditional Visa, Visa Signature, and Visa business cards. It’s also possible that a particular Visa Infinite card won’t have it. You can always call a card’s issuer to ask whether the benefit is provided, though.
The best Visa credit card for return protection is the Chase Sapphire Reserve® card because it offers $500 worth of protection per item rather than the standard $300. The Chase Sapphire Reserve® card also comes with a $550 annual fee, but if you take advantage of all its perks, the benefits still outweigh the costs.
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