In a surprising move, Capital One has added a Price Protection benefit to their personal cards which are Mastercard World or Mastercard World Elite. (Their business cards already have the benefit.)
The benefit offers customers a refund for products purchased which subsequently drop in price – you get refunded the difference. For example, if you buy a laptop for $500, and it later becomes available from the same retailer or a different retailer for $400, Capital One will refund you $100.
Capital One World cards (pdf) | Capital One World Elite cards (pdf) | Links to all benefit guides can be found here
Key Details:
- Max $250 per claim.
- Max 4 claims per 12 month period.
- Purchases must be made entirely with your eligible Capital One card.
- Price Protection is for one hundred twenty (120) days from the date of purchase.
- Capital One cards which are Visa branded do not have a Price Protection benefit.
- There are many exclusions, such as: items purchased for resale, lower prices which are due to rebates, taxes and shipping fees, personalized items, auctions, and more.
- File a claim by visiting www.mycardbenefits.com or call 1-888-531-4227. You must report the claim within one hundred twenty (120) days of the incident or the claim may not be honored.
Price Protection used to be a ‘thing’, until credit cards one-by-one slowly removed the benefit from their cards. Mastercard specifically removed the Price Protection benefit just a number of months ago, but now Capital One is bringing it back on World Mastercards.
The presumed reason for the demise of Price Protection on other cards was automation services, such as Paribus, which scoured the internet to find lower prices and get consumers refunds. The irony here is that Capital One bought Paribus a couple of years back, and now they are adding Price Protection to their personal cards. Hmm…
Other cards that have Price Protection:
- Capital One Visa or Mastercard business cards, such as the Spark line of cards
- Rakuten Visa card
- Wells Fargo Visa Signature
- A few others
Hat tip to Econ0mist
so nothing if myQuicksilver is Visa?
With this + the 5% on Uber/UberEats, I wonder if Cap One isn’t trying to attract/keep more upmarket users for the Savor line. I know their bread and butter is subprime but maybe that market seems less desirable right now.
any ideas how to get “upgraded” to world or world elite? i have a quicksilver “platinum” mc for about 8 years now, and could NOT get capital one to change it to world or world elite through multiple calls over the years, despite a credit limit of $15k+ now.
It may be a “bucketed” card. What that means is when you got the credit card 8 years ago was the starting line lower? If it was then, 99.99% they probably will not upgrade your card to WEMC. It’s their system or whatever. If you apply for a new card and your scores and income is good then it’s a good chance you’ll get a WEMC or Visa Siggy.
I was in the same situation and just applied outright for a new card since my old Platinum would never upgrade despite the more than 5k CL.
thanks for the info. yes, it originally had a $500 limit as my first ever card with “no credit history”.
not worth a credit pull to get wemc on a 1.5% cb card that rarely gets any use.
i just have it open because it’s my oldest account, and zero fees.
I have no idea what you are talking about.
Platinum card also seems to have price protection https://www.capitalone.com/credit-cards/assets/pdf/benefits-guide-platinum-mc.pdf
Yep the duration is 60 days instead of 120 days however.
This is one of the most valuable and underrated card benefits out there! Seriously. You can take advantage of price glitches, confidently purchase in advance of Black Friday and other known sales, purchase from stores with free shipping/high cashback portals/good CS/rewards program and then price match to another cheaper store, etc. Tons of other uses as well. Nice to see some cards get this benefit added after all the major players nuked it. Only downside to Capital One’s policy is maximum of 4 claims per year, which means any claims <$100 probably aren't worth it.
most cards used to exclude black friday sales from price protection, with citi and discover being the only exceptions.
Do you think they will be very specific down to the model number as sometimes they have specific model numbers sold only during Black Friday. Thanks!
Agreed, I used it a few times on some big purchases that ended up having black Friday or similar deals only a month or two later, saved me thousands over the handful of times I used it on a few different cards. Was always sad to see it go, but glad it’s coming back to at least one of my cards. On top of that, these Capital One World Mastercards also extend warranties for up to 2 additional years, so this may be my new goto card for big purchases instead of my Citi Costco.
I agree this will be a noob question as well , can you list out the cards which will fall in this category?
Sorry for the no0b ? but there is no card called “world MasterCard”? This applies to any Cap One MasterCard?
It’s the tier of card “Platinum, World, or World Elite” should be above or below the MasterCard logo on your card. It’s like Visa Signature and Infinite.
No, it applies “World Mastercards” only, of which Capital One has a few
BBVA Select has price protection.
Correct: https://www.bbvausa.com/credit-cards/bbva-select.html, $99 Annual Fee for others to know
So any Mastercard from Capital One will have this price protection?
World or World Elite.
Is there a list of world/world elite mastercards? The benefits guide doesn’t list them & not finding a list on Cap One.
Quicksilver, Savor, SavorOne.
You’ll know if you have one because your card will say ‘World’ or ‘World Elite’ on it.
It will say it on your card
@chuck
Used it last year. They never got rid of it.
It used to be available under Mastercard World benefits until that ended late last year. I suppose Capital One negotiated a special exception to allow it to remain or to bring it back.
When MasterCard reduced the benefits on their cards, I called Capital One to ask about the changes. I also asked was whether they would be separately adding any of these benefits to cover what MasterCard was taking away. They didn’t have any answers, but I checked Capital One’s Guide to Benefits pages every once in a while. I don’t think I ever Price Protection go away.
It did seem odd to me, though that the Guide to Benefits didn’t really change throughout all of this. I even wondered if Capital One just neglected to post updated documents.
I thought they already had price protection on their MasterCard products. Sometime in the past few months, I was double checking some the benefits of my cards, and I reviewed the MasterCard Guide to Benefits on Capital One’s website. I had noted that my Savor and Quicksilver cards were the only ones out of all of my cards with price protection.
I’m guessing it was added sometime in the past few months. I only became aware of it now.
I think this has been around for a while. I have a benefits guide from 2015 for my Quicksilver card (it was a Platinum card, not even a World or World Elite) that has the same the price protection on it as what they offer currently.
Back when MasterCard reduced the benefits on their cards, I called Capital One to ask a few things about the changes to benefits. They didn’t seem to know anything, but I then checked their posted Benefits Guides every once in a while. I never saw any substantial changes. The price protection was there all along, as far as I remember.