Mastercard Price Protection: How Does It Work?

Mastercard^® Price Protection can reimburse eligible cardholders when an item they purchased with a qualifying Mastercard later appears in an advertised sale at a lower price. If your card includes this benefit, you may be able to recover the difference between the price you paid and the lower advertised price, subject to the terms, limits and exclusions that apply to your particular card.

However, Price Protection is not automatically included with every Mastercard. Mastercard benefits can vary by card and issuer, so you should check the Guide to Benefits that came with your card to determine whether your specific account includes Price Protection and what coverage applies.

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What Is Mastercard Price Protection?

Mastercard Price Protection is a benefit that can protect an eligible purchase if the same item is advertised for less after you buy it.

For example, suppose you purchase an eligible television for $500 using a Mastercard that provides Price Protection. If the same television is later advertised for $400 during the applicable coverage period, the benefit may allow you to claim the $100 difference.

The important word is eligible. The benefit does not necessarily apply to every purchase, every Mastercard or every lower price you find. Your card's Guide to Benefits determines the coverage period, maximum reimbursement, eligible purchases, exclusions and claim requirements.

How Does Mastercard Price Protection Work?

If your Mastercard includes Price Protection, the basic process works like this:

1. Purchase an eligible item with your covered Mastercard.
2. Find a qualifying advertisement showing the same item at a lower price.
3. Make sure the lower advertised price falls within the applicable coverage period.
4. Keep your original purchase receipt and the advertisement showing the lower price.
5. Submit a claim with the documentation required by your card's benefit administrator.

If the claim meets all of the requirements, the benefit may reimburse you for the difference between your original purchase price and the qualifying lower advertised price, subject to the coverage limits and exclusions in your Guide to Benefits.

Does Every Mastercard Have Price Protection?

No. Having a Mastercard does not automatically mean that your credit card includes Price Protection.

Mastercard is the payment network, while your credit card is issued by a financial institution. The benefits available with a particular Mastercard can depend on the card and the issuer. Mastercard's published benefit guides also state that the applicable card's actual offerings and terms control coverage.

That means you should not assume that a Standard Mastercard, World Mastercard or World Elite Mastercard automatically provides identical Price Protection coverage. The specific benefit package attached to your account is what matters.

How Much Does Mastercard Price Protection Cover?

There is no single reimbursement amount that applies to every Mastercard with Price Protection.

Some Mastercard benefit guides have provided coverage of up to $250 per claim, with a maximum number of claims during a 12-month period. For example, Mastercard's published 120-day Price Protection guide describes coverage of up to $250 per claim and a maximum of four claims per cardholder account during a 12-month period.

However, that guide is specific to the benefit program described in that document. Mastercard states that benefit terms can change and that an issuer's actual card offering or applicable benefit guide controls. Therefore, you should check your own Guide to Benefits rather than assuming that the $250 limit or four-claim limit applies to your card.

How Long Does Mastercard Price Protection Last?

The length of the Price Protection period depends on the benefit provided with your particular card.

Mastercard has published benefit guides providing 60-day and 120-day Price Protection coverage. In those programs, the qualifying lower price must be advertised within the specified period after the original purchase.

Because coverage periods can differ, don't rely on a general 60-day or 120-day rule without checking your card's current Guide to Benefits.

What Do I Need to File a Mastercard Price Protection Claim?

The documentation required depends on the applicable benefit program, but you should generally keep records that establish both the original purchase and the lower advertised price.

That can include:

• Your original purchase receipt.
• Your credit card statement showing the purchase, when required.
• A dated advertisement showing the lower price.
• Information identifying the retailer and the item.
• Any additional documentation requested by the benefit administrator.

The lower-priced advertisement may also have to meet specific requirements. For example, Mastercard's published benefit guides have required the advertisement to identify the retailer and the item, including information such as the manufacturer and model number for applicable purchases.

What Purchases Are Excluded From Mastercard Price Protection?

Price Protection does not cover every type of purchase.

Exclusions vary by benefit program, but Mastercard's published guides have excluded categories such as jewelry, artwork, antiques, used or previously owned merchandise, collectibles, customized or personalized items, auction purchases and items purchased for resale, rental or commercial use.

Other exclusions and conditions can also apply. This is another reason it is important to read the Guide to Benefits for your specific card before assuming that a purchase is covered.

Can I Get Price Protection for an Item I Bought Online?

Online purchases can be subject to specific rules under a Price Protection benefit.

Mastercard's published guides have included requirements concerning the type of website or advertisement involved and have excluded certain auction sites and other types of purchases. The exact rules depend on the benefit guide that applies to your card.

If you find a lower online price, check the applicable terms before assuming that the advertisement qualifies for reimbursement.

How Do I Know If My Mastercard Has Price Protection?

Price Protection has become less common among credit cards, and you should not assume that your Mastercard includes the benefit simply because it carries the Mastercard^® logo.

Mastercard's current information indicates that Price Protection may be available with some cards, but benefits can vary by card and issuer. Mastercard also advises cardholders to check with the financial institution that issued their card for the complete benefit terms.

Some other card issuers still specifically advertise Price Protection on certain cards. For example, Capital One currently says that its Price Protection benefit is available on some of its card products. Capital One directs cardholders to their individual Cardholder Benefits Guide to determine whether the benefit applies to their particular card.

There are also individual Mastercard products whose current benefit guides include Price Protection. This means the benefit has not disappeared completely, but finding a specific card that still offers it requires looking at the benefits attached to that particular card.

The most reliable way to determine whether your Mastercard includes Price Protection is to check the current Guide to Benefits for your card or contact the card issuer using the customer-service number on the back of your card.

Is Mastercard Price Protection Still Available?

Price Protection has become less common among credit cards, and many issuers have discontinued the benefit. However, Mastercard continues to reference Price Protection as a benefit on certain eligible Mastercard products and published benefit materials.

For that reason, the question is not simply whether Mastercard offers Price Protection. The more useful question is whether your particular Mastercard credit card includes the benefit.

Where Can I Find Mastercard Credit Cards?

If you're researching Mastercard Price Protection because you're considering a Mastercard credit card, you can also view Mastercard credit cards available through our site.

Keep in mind that benefits vary by card, so if Price Protection is important to you, review the specific card's benefits and terms before applying.

Mastercard Price Protection: The Bottom Line

Mastercard Price Protection can reimburse eligible cardholders for the difference when a qualifying purchase is advertised for less after the purchase. The benefit can be valuable, but it is not automatically included with every Mastercard.

The coverage period, reimbursement limits, eligible purchases, exclusions and claim requirements depend on the particular card and the Guide to Benefits that applies to that account.

If your Mastercard includes Price Protection, keep your purchase receipt and documentation showing any qualifying lower price you find. And before filing a claim, check your card's current benefit guide so you know exactly what the coverage requires.