Key takeaways
- Credit card return protection is offered through various card products from issuers like American Express and Chase.
- To qualify for this coverage, you must use a card that offers it to pay for an eligible purchase.
- Terms for credit card return protection vary by credit card network and card, so make sure to read the fine print for the coverage you plan to use.
Let’s say you buy a lamp from an expensive store, only to get buyer’s remorse when you get home. You rush to return the over-priced purchase as soon as possible, only to find out that the store has a no-return policy.
This is where credit card return protection might kick in, but only if you used a credit card that offers this coverage to pay for the lamp. Credit card return protection is a notoriously fickle credit card perk that’s increasingly rare though, so you may not have this benefit.
Despite its extensive fine print and exclusions, however, it can be beneficial for consumers who are having second thoughts about a purchase. Read on for an overview of how credit card return protection works, typical fine print for coverage and hidden fine print details that apply when you go to file a claim.
What is credit card return protection?
Credit card return protection is a credit card perk that can apply when you make a purchase with a credit card that allows individuals to return a purchase even if the retailer doesn’t allow it. If the retailer allows returns, credit card return protection can also extend the time a consumer has to return the item.
It’s important to note that not all credit card issuers offer return protection, as it’s a dying perk in the credit card industry. Also, be aware that just having a credit card with return protection isn’t always enough to use it. You have to use the card to pay for the item you hope to return for coverage to apply.
If you had purchased the overpriced lamp in our example with a different credit card for any reason, your return protection wouldn’t work. Along with the considerable fine print, the fact you have to use the card with this coverage for all eligible purchases you might use it for is a major downside of this credit card benefit.
How does return protection work?
The steps for processing a return request can be a cumbersome experience, and they vary based on the card, card issuer and purchase in question. Credit card issuers who still offer return protection also tend to have extensive rules that exclude some purchases.
If the item is eligible for a return, most issuers will require the following to process the request:
- A credit card statement showing that the purchase was made with their card that offers return protection
- The original receipt of purchase
- Documentation that you tried to return the purchase to the original retailer
Once you file a claim for credit card return protection, you may be required to send the item to your credit card issuer for further evaluation. You’ll typically have to pay the shipping cost upfront, but you may be reimbursed for the expense if your return protection claim is approved.
Rules and restrictions for credit card return protection by credit card issuer
Credit card return protection rules are typically set by credit card networks, and the same can be said for restrictions and exclusions for this coverage. However, not all credit card networks have cards that offer credit card return protection, including Discover cards and Mastercard. Mastercard once offered a version of this benefit called a “Satisfaction Guarantee,” yet there are currently no credit cards for U.S. consumers that offer this coverage.
Here’s an overview of major credit card issuers that have products with return protection, plus the general terms and conditions for this coverage.
American Express
American Express return protection is offered through cards like The Platinum Card® from American Express and the Delta SkyMiles® Reserve American Express Card. This coverage applies for the first 90 days after a purchase is made with an eligible Amex card, and coverage is worth up to $300 per refund item with a maximum limit of $1,000 in returns per calendar year.
A range of items are excluded from this protection, including personal hygiene products, books and magazines, jewelry, formal wear and live animals. Also, American Express may require you to ship the item to them within 30 days of filing a claim for further evaluation.
Capital One
Capital One offers return protection on its Visa Infinite products, including the Capital One Venture X Rewards Credit Card for consumers. This coverage also applies for up to 90 days from the purchase date when a retailer won’t take the purchase back, and coverage is limited to $300 per refund item with a maximum coverage limit of $1,000 in returns per calendar year.
Items excluded from coverage include animals and living plants, computer software, jewelry, medical equipment, perishables and more. If you file a claim, you are responsible for shipping the item to the claims department at your own expense. Also note that, if you file a claim within 30 days of making a purchase, you’ll be required to submit proof of the store’s return policy.
Chase
Visa offers return protection on Visa Infinite products like the Chase Sapphire Reserve® and the Ritz-Carlton™ Credit Card*, which is no longer accepting new applicants. This coverage applies for up to 90 days from the date of purchase with a $500 refund per eligible claim. The same $1,000 annual limit for refunds with this coverage also applies.
Purchases not eligible for this coverage include damaged items, medical equipment, plants and animals, boats, jewelry and more. You must ship the item to the claims department at your own expense, and the item must be like-new or in good working condition to qualify for coverage. If you file a claim within 30 days of purchase, you’ll be required to prove the retailer’s return policy.
Discover
While Discover once offered return protection on some of its card products, it has eliminated this benefit over time. This means you’ll no longer find Discover credit cards that offer return protection of any kind.
U.S. Bank
Visa also offers return protection on the U.S. Bank Altitude™ Reserve Visa Infinite® Card*. This coverage is good for the first 90 days after an eligible purchase is made, and it’s limited to $300 in return coverage per item.
U.S. Bank says to visit the benefit administrator at www.cardbenefitservices.com or by calling 1-888-221-3289 within 90 days of the date of purchase to file a claim or get your questions answered.
The bottom line
Credit card return protection can offer peace of mind when shopping for an item that may not be eligible for a refund. However, the extensive fine print and exclusions make this more of a backup option to get a refund rather than a credit card perk you can use routinely. If you’re out of luck on return protection, check if your credit card offers purchase protection.
Frequently asked questions about credit card return protection
*The information about the Ritz-Carlton™ Credit Card and the U.S. Bank Altitude™ Reserve Visa Infinite® Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the issuer.
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