Discover has announced that they will be removing price protection on October 31st, 2018. Purchases made prior to this date will be eligible for claims under the old rules.
Earlier this year Discover removed these benefits:
- Extended Product Warranty
- Return Guarantee
- Purchase Protection
- Auto Rental Insurance
- Flight Accident Insurance
Chase & Citi have also both made changes to price protection policies in recent times. One reason that’s likely causing the change/removal of this benefit is that a number of services have popped up automating the price protection claiming process, increasing the number of claims issuers are having to deal with/pay for (the full process isn’t automated with Discover. But you can still be alerted when a purchase is eligible for a claim). This change comes ahead of Black Friday and Discover was really the only good option for price protection claims during those sales.
Hat tip to reader @akshayasok
At least on the bright side, any purchases with Discover you make by the end of October can still benefit from holiday sales and Black Friday. Thankfully at least Citi is reducing the maximum benefit but otherwise keeping their program alive. It’s the simplest price matching program, and it’s simpler for automated price matching to handle for you in some cases.
Discover it: the 5% consumables cash back card!
This is all a ploy. Discover is afraid with Chase ending price protection and Citi reducing theirs everyone will flood them with claims causing big losses. In a couple months theyll announce that “due to overwelming demand” theyll keep price protection but with half the limits. People will be so happy few will cancel their cards over this. It’s all a ploy to get people happy theyre reducing a benefit people love. Mark my words.
https://www.change.org/p/discover-save-discover-price-protection
Yes!
Can you all confirm… I think now Citi is industry-leading by virtue of having not entirely killed it, right?
Correct
Why was it the only good Black Friday option? I’ve Citi several times to score BF deals.
Doesn’t Citi technically exclude BF?
Don’t think so. From their guide: “The lower price must be published on an online retail site or in a printed or online newspaper, magazine, store circular or catalog and can be validated with the merchant. This includes special promotions such as Black Friday or door buster sales.” https://www.citipricerewind.com/guide
Obviously, the Discover PP was heavily abused. It was utilized by customers as a discount, not as an actual price protection. I believe it can come back if issuers tight the terms, like PP only to authorized sellers (to exclude buy and switch sellers who advertise extremely low prices)
very disappointing 🙁 this was such a great perk! well at least the 5% is there (for now )
Time to cancel. this was the only reason I use discover. Last chance to buy a OLED and PM shady sites.
so exactly what benefit does discover cards have? 5% cashback?
Discover just became a card I can’t see myself using. They removed all the reasons to have it.
5% cash back isn’t a good reason?
That’s basically the only remaining reason left since they also took out extended warranty. Likely only for food and gas for me now that all these protection are being taken away.