Consumer Payment Card News

Credit Card Return Peace of Mind

Holiday gift purchases and impulse shopping often result in needing to return items days or weeks later. Sometimes if a month or more goes by, the retailer may not accept returns, even for store credit. To protect yourself as a consumer, a credit card with return protection may give you the peace of mind needed to complete all your holiday shopping this year. Common but not widely known, credit card return protection is a perk that allows cardholders to be reimbursed for items they’ve purchased when they are dissatisfied and the merchant will not process the return.

Many stores enforce a strict return policy of two weeks to a month, or sometimes slightly more. A credit card with return protection becomes especially handy when the store’s return period is shorter than the credit card’s return protection period. If you are interested in a credit card offering return protection, be sure to research each card’s limits in terms of limit per item and limit per year. Typically to take advantage of credit card’s return protection, you may have to provide your original store receipt, a copy of your credit card statement showing the charge, and you may have to physically return the item to a specified address to officially make the “return.” Some exclusions may apply, such as CDs, DVDs, video games, and so forth, but the concept of return protection is a great one, especially with the holiday shopping scramble to find gifts for your kids, family, and friends.

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