Credit Cards with a Guaranteed Pricing Scheme

Australian credit cards that offer a guaranteed pricing scheme

What is guaranteed pricing?

Guaranteed pricing is a feature many credit cards today come with, especially if they come with other complimentary insurance policies.If you make a purchase using a credit card with a guaranteed pricing policy, and then later find the same item cheaper elsewhere, this policy kicks in to pay you the difference.

Important information

The service is generally free provided certain conditions are met.

Compare credit cards with guaranteed pricing scheme

Rates last updated October 21st, 2017.

Emirates Citi World Mastercard

Bonus points offer changed from 50,000 to 60,000, and is valid until 31 December 2017.

September 28th, 2017

ANZ Low Rate Platinum

A new offer of $250 back to your new ANZ Low Rate Platinum Credit Card when you meet the minimum spend requirement.

October 11th, 2017

NAB Premium Card - Exclusive Offer

0% p.a. for 24 months balance transfer offer has been reactivated, valid until 12 November 2017.

October 12th, 2017

View latest updates

Jonathan Choi Jonathan
Product Description Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
HSBC Platinum Qantas Credit Card HSBC Platinum Qantas Credit Card Receive 60,000 bonus Qantas Points when you meet the spend requirement and earn up to 1 Qantas Point per $1 spent. 19.99% p.a. 0% p.a. for 6 months $199 p.a. Go to site More info
NAB Premium Card - Exclusive Offer NAB Premium Card - Exclusive Offer Exclusive to finder.com.au and available until 12 November 2017, enjoy a no BT fee, long-term balance transfer offer and complimentary insurances. 19.74% p.a. 0% p.a. for 24 months $90 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum Bank of Melbourne Vertigo Platinum Get a range of complimentary insurance covers, access to a 24/7 concierge and up to 55 days interest-free on purchases. 12.74% p.a. 0% p.a. for 24 months with 2% balance transfer fee $99 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 80k Bonus Points offer Virgin Australia Velocity High Flyer Card - 80k Bonus Points offer Take off sooner with up to 1 Velocity Point per $1 spent and earn up to 80,000 bonus Velocity Points. Plus, complimentary travel insurance. 20.74% p.a. 0% p.a. for 15 months $289 p.a. Go to site More info
NAB Qantas Rewards Premium Card NAB Qantas Rewards Premium Card A dual Amex and Visa card that earns up to 1 Qantas Point per $1 spent on eligible purchases, plus a 24/7 personal concierge. 19.99% p.a. 0% p.a. for 6 months $250 p.a. Go to site More info
Bank of Melbourne Amplify Signature Bank of Melbourne Amplify Signature Earn 1.5 Amplify Rewards Points per $1 spent and receive an additional card at no extra cost. 19.49% p.a. $279 p.a. Go to site More info
Emirates Citi World Mastercard Emirates Citi World Mastercard Receive protection through guaranteed pricing scheme, purchase cover insurance, and extended warranty insurance. 20.99% p.a. 0% p.a. for 9 months $149 p.a. annual fee for the first year ($299 p.a. thereafter) Go to site More info
ANZ Low Rate Platinum ANZ Low Rate Platinum Enjoy platinum benefits with exclusive discounts, complimentary travel and purchase insurances and a 24/7 personal concierge. 11.49% p.a. $99 p.a. Go to site More info
ANZ Rewards Travel Adventures card ANZ Rewards Travel Adventures card Receive 40,000 bonus Velocity Points when you spend $500 on eligible purchases in the first three months. 20.24% p.a. $225 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer ANZ Platinum Credit Card - Exclusive Offer Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee. 0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Velocity Rewards Premium Card NAB Velocity Rewards Premium Card Offers up to 1 Velocity point per $1 on purchases, combined with complimentary insurance covers and a concierge service. 19.99% p.a. 0% p.a. for 6 months $150 p.a. Go to site More info
Bankwest More World Mastercard Bankwest More World Mastercard Earn 2.5 More Rewards Points per $1 spent and receive complimentary travel insurance. 19.99% p.a. 0% p.a. for 6 months with 1% balance transfer fee $270 p.a. Go to site More info
28 Degrees Platinum Mastercard 28 Degrees Platinum Mastercard Designed for travel, benefit from no international transaction fees on purchases and no currency conversion fees. 21.99% p.a. 4.99% p.a. for 6 months $0 p.a. Go to site More info
St.George Vertigo Platinum St.George Vertigo Platinum Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service. 12.74% p.a. 0% p.a. for 24 months with 2% balance transfer fee $99 p.a. Go to site More info
St.George Amplify Platinum St.George Amplify Platinum Earn up to 1 Amplify Rewards Point per $1 spent and receive complimentary overseas travel insurance. 19.49% p.a. $99 p.a. Go to site More info
St.George Amplify Signature St.George Amplify Signature Earn up to 1.5 Amplify Rewards Points per $1 spent and receive two complimentary airport lounge passes per year. 19.49% p.a. $279 p.a. Go to site More info
BankSA Vertigo Platinum BankSA Vertigo Platinum Take advantage of purchase protection, extended warranty and overseas travel insurance, plus a 24/7 concierge. 12.74% p.a. 0% p.a. for 24 months with 2% balance transfer fee $99 p.a. Go to site More info
Citi Simplicity Card Citi Simplicity Card Earn 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from card approval. 19.99% p.a. 0% p.a. for 15 months with 1.5% balance transfer fee $0 p.a. Go to site More info
ANZ Platinum Credit Card ANZ Platinum Credit Card Enjoy platinum card benefits with a 24/7 personal concierge and complimentary overseas travel and medical insurance. 19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
Bendigo Bank Low Rate Platinum Mastercard Bendigo Bank Low Rate Platinum Mastercard A low rate platinum card with premium features such as mobile phone and tablet insurance and purchase protections 11.99% p.a. $89 p.a. Go to site More info
A woman holding a credit card and making payments in store

How do credit cards with guaranteed pricing work?

Credit cards today come with a diverse number of features to get you interested in them. Some offer reward programs with bonus points, some offer low purchase rate deals, and others offer complimentary insurances which may protect you and your family when travelling internationally, domestically, or in the event an item you purchase gets lost or stolen.

Guaranteed pricing is one such feature, and is generally found on gold, platinum and black cards. It can also go under the moniker of Price Guarantee Cover in the case of Westpac, Best Price Guarantee Scheme when dealing with ANZ, and other names.

Guaranteed pricing conditions

Guaranteed pricing schemes usually set out the following conditions before you're qualified to be reimbursed:

  • You need to have bought the item with your eligible card. This usually means that you need to have used your physical credit card to make the purchase.
  • You have a limited time to make a claim within. For many cards, the policies state you need to make a claim within 21 days of purchasing the original, more expensive item. This can be longer, with some policies offering up to 60 days.
  • You need to provide proof of the cheaper item. This is generally required to be a printed catalogue, also printed within a set number of days of buying the item.
  • Proximity qualifications. The cheaper item needs to be found from a store within 25 km of the store where the original item was bought from.
  • Specification qualifications. The two items need to be identical, in terms of model number, year and manufacturer.
  • Other qualifications. Some card providers will allow you to claim for business or personal items, and others will limit the items to being solely personal, or solely business. Some policies will also limit the value of the item to being no more than $10,000.
  • Minimum price difference. Most cards have a minimum price difference you can claim on - usually $75.

If these conditions are met, you'll be reimbursed up to maximum set amount. This is usually $300 - $500.

How do you compare cards with guaranteed pricing?

Comparing a card with a guaranteed pricing scheme can be done in the following ways.

  1. Find out what the annual fee is. As always, compare the value of the guaranteed policy scheme and any other complimentary insurance policies with the annual fee you'll be paying each year. If you can't justify the annual fee then it may be time to look at another card. It's also useful to compare the fees you may pay for other transactions such as buying something overseas, making a late payment etc, if these fees are likely to apply to you.
  2. Compare the interest rates and interest free days. If you plan to make purchases and carry a balance from month to month, ensure the interest rate is manageable. If you intend to pay your card off each month, then it may be useful to compare cards with 55 interest-free days.
  3. Compare the guaranteed pricing scheme. Many of the credit cards in the market have their insurance provided by Zurich, meaning their policies are almost identical. Still, check that the maximum amount you'll be refunded you different for one card provider to another. Read the insurance terms and conditions.
  4. Look for any added features and extras. If two cards are equal after the above comparison, it's useful to look for any added features and benefits. Look for rewards programs, bonus points or balance transfer deals.

Pros and cons of credit cards with guaranteed pricing

Pros

  • Potential to save money. A guaranteed pricing scheme could save you money and turn an embarrassing situation on its head.
  • Peace of mind. If you're in a hurry and buy a product you can rest easy knowing you have 21 days to find it cheaper and make a claim.
  • The pricing scheme is complimentary. This policy is a complimentary incentive to cardholders, so you don't have to pay for each claim.
  • No excess. This type of policy usually doesn't come with an excess, although this isn't a hard and fast rule.

Cons

  • Higher entry requirement. Many of these cards are platinum cards, meaning they have higher annual fees and income requirements.
  • Could be paying for the scheme with higher annual fees. Some of these cards might add the cost of the policy to the annual fee of the card, meaning if you don't make a claim/claims in a year you could be paying for nothing.
  • The policy typically doesn't cover items bought on the internet. Most, if not all cards don't cover items bought on the internet.

Tips and things to avoid when it comes to cards with guaranteed pricing

  • If you'll be paying higher annual fees because of this insurance policy ensure it's a policy you'll be likely to use.
  • Read the terms and conditions before you apply for any card - don't be surprised.
  • Keep your receipt and other proof of purchase whenever you buy an important or expensive item.

Frequently asked questions

This will depend on who providers your insurance. In the case of Zurich, which provides the insurance for many credit cards, you simply need to call their hotline with your supporting documents ready.

These can be found on our site. Simply search the name of the bank followed by 'credit card complimentary insurance' in the search bar at the upper right of the page.

Back to top
Was this content helpful to you? No  Yes

Related Posts

NAB Premium Card - Exclusive Offer
NAB Premium Card - Exclusive Offer

Interest rate

19.74

Annual fee

90
ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

87
St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate

12.74

Annual fee

99

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
Ask a question