Price Protection Guarantee

Get the best price on eligible purchases. Compare credit cards with a price protection guarantee to make sure you don’t overpay for important things you buy in stores.

Credit cards with a price protection guarantee scheme (or “best price guarantee scheme”) will give you a refund when you buy an item with a credit card and find a lower price elsewhere within a specified period of time. The refund available is only the difference in price and this will not include costs like shipping and taxes. The lower-priced item triggering the refund is expected to exactly match the item you purchased, including model number and manufacturer.

There is usually no cost for credit card price protection. In this case it is a complimentary policy whose cost is included in the card’s annual fee, if there is one. However, the full price of the item must have been charged to the card for the price guarantee to come into effect.

Some cards do offer price protection insurance as an optional extra in return for a small monthly premium. These policies may have more generous and less restrictive provisions than the complimentary policies.

There are several things to keep in mind about credit card price protection guarantees.

Cover extends to bricks-and-mortar store prices only

Price protection guarantees do not provide cover for lower prices advertised online, or if you bought the item online in the first place. The item against which you are seeking a price difference refund must have been bought in a physical store, and the lower advertised price must also be in a bricks-and-mortar store not more than 25km distant from the original store, with the advertisement appearing in print.

Time limit

You can’t get a refund if you see a lower advertised price months later. The lower price must be current within a time limit of 21 days after the initial purchase, and you will usually need to lodge your claim within this time period as well.

Only large price differences are covered

In most cases there will be a minimum allowable claim of a $75 price difference. This means that the item in question will probably have been substantial and expensive. It’s understandable that there is a sizeable minimum, otherwise both the card issuer and cardholder could get bogged down in a morass of small claims.

Maximum claim limits apply

There will also be a maximum claim limit per item in place, usually a figure between $300 and $1,000, depending on the insurer.

Read the fine print

In addition to the limits and exclusions already described, the fine print is also likely to exclude perishable items, services, jewellery, art, collectibles, furs, customised items, antiques, motorised vehicles and equipment. It could also limit the number of times you can make price a guarantee claim in a 12 month period, and the maximum amount claimable in any one year. Read the conditions provided when you first received your card, before you make your claim.

Keep evidence of your purchase and the lower price

To make your claim you need to prove that your card was used to purchase the item in question at a specific price point. Original receipts will be required in most cases. You will also need to provide a copy of the printed advertisement in which the identical product is offered at a lower price not more than 25 km away.

All the cards found on this page have a complimentary price guarantee scheme for cardholders.

price protection
purchase rate
annual fee
Apply
Virgin Australia Velocity Flyer Credit Card 0% p.a. Purchase Offer
Apply by 31 mar 19
2 reviews
0% p.a. for 14 months on purchases.
$129 Virgin Australia Gift Voucher each year.
Personal Concierge Service.
More info
Add to comparison
Yes
14 months
0% p.a.
then 20.74%
$129
ongoing
NEW
Citi Rewards Platinum Card Balance Transfer Offer
Apply by 31 mar 19
0% p.a. for 26 months on balance transfers.
One-off 1.5% balance transfer fee applies.
Reduced annual fee of $0 p.a. in the first year ($199 p.a. thereafter).
More info
Add to comparison
Yes
20.99% p.a.
ongoing
$0
1st year
then $199
The American Express Essential® Credit Card
Apply by 13 mar 19
5 reviews
Receive a $50 Dining Credit when you apply by 13 March 2019, are approved and meet spend criteria (conditions apply).
$0 p.a. annual fee.
Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone (conditions apply).
More info
Add to comparison
Yes
14.99% p.a.
ongoing
$0
ongoing
Citi Simplicity Card
Apply by 31 mar 19
No annual fee.
0% p.a. for 6 months on balance transfers.
Complimentary purchase cover insurance, transit accident insurance, extended warranty insurance and guaranteed pricing scheme.
More info
Add to comparison
Yes
19.99% p.a.
ongoing
$0
ongoing
Virgin Australia Velocity Flyer Credit Card
Apply by 31 mar 19
14 reviews
Save money with 0% p.a. for 18 months on balance transfers. (Reverts to cash advance rate)
Earn 3 bonus Velocity Points on top of the standard earn rate for the first 3 months.
Half year annual fee of $64 p.a. for the first year.
More info
Add to comparison
Yes
20.74% p.a.
ongoing
$64
1st year
then $129
Virgin Australia Velocity Flyer Credit Card Points Offer
Apply by 31 mar 19
Earn up to 60,000 bonus Velocity Points (Spend Conditions Apply).
Save money with 0% p.a. for 18 months on balance transfers. (reverts to cash advance rate)
$129 Virgin Australia Gift Voucher which cardholders get each year.
More info
Add to comparison
Yes
20.74% p.a.
ongoing
$64
1st year
then $129
NAB Low Fee Platinum Card
Apply by 24 feb 19
27 reviews
0% p.a. for 24 months on balance transfers. (2% balance transfer fee applies). Reverts to cash advance rate.
24 hour, 7 day Platinum Concierge Service.
7 types of complimentary insurances including overseas travel insurance.
More info
Add to comparison
Yes
19.74% p.a.
ongoing
$90
ongoing
HSBC Platinum Credit Card
Apply by 30 apr 19
14 reviews
0% p.a. on balances transferred for 22 months, with no balance transfer fee.
$129 p.a. annual fee which is refundable each year when you spend $6,000 on eligible purchases.*
Earn 2 pts per $1 spent on overseas purchases.
More info
Add to comparison
Yes
19.99% p.a.
ongoing
$129
ongoing
Citi Clear Platinum Credit Card
Apply by 31 mar 19
16 reviews
0% p.a. for 14 months on balance transfers with no balance transfer fee.
No annual fee for the first year ($99 p.a. thereafter).
Enjoy a low purchase rate of 12.99% p.a.
More info
Add to comparison
Yes
12.99% p.a.
ongoing
$0
1st year
then $99
0% p.a. for the first 18 months on balance transfers with a 2% balance transfer fee on amounts transferred. Reverts to 21.49% p.a.
Up to 55 days interest free on purchases when you pay your account in full each month.
$0 annual fee for the first year (save $87).
More info
Add to comparison
Yes
19.74% p.a.
ongoing
$0
1st year
then $87
No foreign transaction fees on purchases when travelling or shopping online.
No currency conversion fees.
$0 p.a. annual fee.
More info
Add to comparison
Yes (optional)
21.99% p.a.
ongoing
$0
ongoing
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Win up to $1,000

When you get your credit score and apply for a credit card by March 1, 2019.

Q&As about Price Protection Guarantee from customers

Q: Do all credit cards have a price protection guarantee scheme?

No. A price protection guarantee scheme is normally just one item in a suite of insurance policies often accompanying premium cards with a high annual fee. However, some lower-priced cards, or even cards with no annual fee at all, may have a price protection program as part of a “shoppers’ insurance” group of policies alongside purchase protection and extended warranty. But many cards have no insurance cover at all.

Q: Can I get a price difference refund against an online purchase?

Most unlikely. Price protection schemes are designed for purchases made from a bricks-and-mortar retail store located in Australia.

Q: Can I get a price difference refund if I purchase in a store, then see a lower price online?

No. The scheme’s conditions will normally exclude any prices advertised only online. However, you may see a price advertised online by a retailer who also has a physical store within 25 km of your original purchase, so it’s worth checking to see if they have issued a printed catalogue specifying the same low price.

Q: What if I see a lower price advertised in print a few hours’ drive away?

You probably won’t be able to make a claim. Most policies specify that the item must be available at the lower advertised price in a store not more than 25 km from the store where the original purchase was made.

Q: What if I see a lower price for an item which is almost the same as, or better than, the one I purchased?

You will not be able to make a claim. The item in question must be identical to the one you purchased in all respects: the same manufacturer, and exactly the same model number.

Q: How long do I have in which to make a claim?

Most policies will specify that the price difference refund claim must be submitted no more than 21 days after the original purchase.

Q: Can I get a price refund on a lower price for a car?

No. Motor vehicles are usually amongst the items specifically excluded from the policy (along with jewellery, collectibles and works of art).

Q: Can I get a refund on a price difference of $2,000 or more?

The policy applicable to your card will have a maximum claim limit, often as low as $300 but occasionally as high as $1,000. Being able to make a claim for more than $1,000 on a single item is unlikely, unless you have a policy for which you have paid a premium.

Q: Can I get a refund for a price difference of $50?

Very unlikely. Most policies will have a minimum claim limit involving a price difference of at least $75.

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