Price Protection

You’re so excited for your trip overseas...until you notice that your plane ticket is cheaper than it was before. Like, $300 cheaper. Darn it. But wait...your credit card has price protection for 30 days on airfare. Phew! You can pocket that $300 thanks to price protection.

Price protection, or purchase protection, is when a seller and buyer agree to keep the price of a good or service fixed in a certain timeframe.

While price protection costs the companies who offer it, it also gets them more customers. Risk-averse folks will especially appreciate a price protection feature on a credit card. There’s a certain comfort in knowing you can get some money back if prices go down in the future...assuming you pay attention to that kind of thing.