Protect Purchases Against No-Return Policies

Perhaps you have experienced this: you purchase a pair of shoes to go with your new blue suit, but you forget to bring the suit with you. When you get home you discover that they are an entirely different shade of blue. Unfortunately, the store policy allows only exchanges and store credits, not returns. What do you do now?

• If you shop with a credit card that offers return protection, you can receive reimbursement for the purchase price even if the store of origin has a no-return policy.

• Return protection programs typically involve a limit on the amount per item and an annual limit for the cardholder. Other qualifications such as the condition of the purchased item and the existence of any return/satisfaction guarantee programs at the store may apply.

Safeguard Your Valuables with Free Replacement on Stolen or Damaged Items

Picture this: you have just purchased a camera and placed it on the kitchen counter with the carrying strap dangling toward the floor. Along comes your 3-year-old, who spies the camera strap, and gives it a yank. The camera hurtles down to the tile floor, breaking the lens housing. What can you do now?

• Expensive items such as cameras, videocassette recorders and computers are breakable, but even clothing, furniture and other everyday items can be accidentally damaged. But consumers can breathe a little easier because some credit card companies offer purchase protection plans. These plans typically cover accidental damage and theft for a certain amount of time from the date of purchase. Protection is usually limited to a specific amount per occurrence, in excess of other insurance you may have.

Protect Your Purchases by Extending the Manufacturer’s Warranty

Ever wonder if the extended warranties offered at the time of purchase are necessary? Picture yourself at an electronics store, having carefully selected the all-in-one 3 CD changer/dual cassette recorder. You have negotiated the lowest price. You say, "I’ll take it!" The salesperson says, "You know, the manufacturer’s warranty is only one year, and this item may break after that. An intelligent customer such as yourself should get an extended warranty." How do you make the right decision?

• You may not need to buy additional warranties on major purchases because some credit card companies will extend the terms of the original manufacturer’s warranty. This service could save you the expense of purchasing extended warranty programs. Make sure you familiarize yourself with coverage restrictions before making your final decision.

Checklist of Customer Protection Benefits

When you purchase items with your credit card, you may be receiving one or more of the following benefits. Keep these benefits in mind in the event that you need to take advantage of this consumer protection. Limitations may apply, such as type of item and cost per occurrence, dollar amount allowed per year, time restrictions and procedures required. When choosing a credit card, ask the issuer whether the following important consumer protection benefits are offered:

• Protection against no-return policies
• Free replacement on stolen or damaged items
• Guarantee of the lowest price
• Extension of manufacturer’s warranty

Call your credit card company today to find out if the cards you are now using offer these benefits and services.