Credit Cards with a Guaranteed Pricing Scheme or Price Protection Cover

This credit card benefit refunds you the difference if something you bought with your card goes on sale elsewhere. Here's what you need to do to qualify.

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Name Product Purchase rate Balance transfer rate Annual fee
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 36 months
$29 annual fee for the first year ($129 p.a. thereafter)
Save money with a 0% balance transfer rate for 36 months (with no BT fee), a first-year annual fee discount and free travel insurance.
Citi Rewards Card - Purchase and Balance Transfer Offer
0% p.a. for 14 months, reverts to 21.49% p.a.
0% p.a. for 14 months
$49 annual fee for the first year ($149 p.a. thereafter)
Save with 0% on purchases and balance transfers for 14 months with no balance transfer fee. Plus, $49 first-year annual fee.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 28 months
$0 annual fee for the first year ($129 p.a. thereafter)
Get 0% p.a. on balance transfers for 28 months (with no BT fee). Plus, $0 annual fee in the first year. Ends 31 October 2021.
Bank of Melbourne Amplify Signature
19.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$279
Up to 200,000 bonus points (100k in the 1st year & 100k in the 2nd year) - worth $900 in gift cards - when you spend $12k/year for the first 2 years.
Citi Premier Qantas Card
21.49% p.a.
0% p.a. for 6 months
$175 annual fee for the first year ($350 p.a. thereafter)
Get 100,000 bonus Qantas Points when you spend $4,000 in the first 90 days and a first-year annual fee discount.
St.George Amplify Platinum
19.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$49 annual fee for the first year ($99 p.a. thereafter)
Receive 130,000 bonus Amplify Points when you spend $3,000 in the first 90 days. Plus, a 0% balance transfer offer and a first-year annual fee discount.
ANZ Platinum Credit Card
0% p.a. for 17 months, reverts to 20.24% p.a.
20.24% p.a.
$0 annual fee for the first year ($87 p.a. thereafter)
Now offering Cashrewards Max. Receive a 0% purchase rate offer for 17 months and a $0 first-year annual fee. Plus, complimentary overseas travel and medical insurance.
Citi Premier Card
21.49% p.a.
0% p.a. for 6 months
$150 annual fee for the first year ($300 p.a. thereafter)
Enjoy 130,000 bonus points (worth $450 in eGift cards) when you spend $4,000 within the first 90 days. Plus, a first-year annual fee discount.
BankSA Amplify Signature
19.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$279
Up to 200,000 bonus points (100k first year & 100k second year) - worth $900 in gift cards - when you spend $12,000/yr for the first 2 years.
St.George Amplify Signature - Qantas
19.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$279
Get 90,000 bonus Qantas Points when you spend $6,000 using your new card within 90 days from approval and 2 Qantas Club lounge invitations per year.
Westpac Altitude Platinum Qantas
20.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$49 annual fee for the first year ($200 p.a. thereafter)
Get 75,000 bonus Qantas Points when you spend $4,000 within 90 days. Plus, a first-year annual fee discount and a 0% balance transfer offer.
Westpac Altitude Platinum Card
20.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$49 annual fee for the first year ($150 p.a. thereafter)
Get 130,000 bonus Altitude Points (worth $450 cashback) when you spend $3,000 in the first 90 days, a 0% balance transfer offer and a $49 discounted annual fee.
St.George Amplify Signature
19.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$279
Up to 200,000 bonus points (100k first year & 100k second year) - worth $900 in gift cards - when you spend $12,000/yr for the first 2 years.
Bankwest Breeze Platinum Mastercard
0% p.a. for 15 months, reverts to 9.9% p.a.
0% p.a. for 15 months
$0 annual fee for the first year ($69 p.a. thereafter)
Get 0% interest on purchases and balance transfers for 15 months, a $0 first-year annual fee and no foreign transaction fees.
Citi Clear Card - Cashback Offer
14.99% p.a.
0% p.a. for 15 months
$49 annual fee for the first year ($99 p.a. thereafter)
Get $250 cashback when you spend $3,000 in the first 90 days. Plus, free wine when you dine and purchase insurance cover.
Citi Rewards Card - Points & Gift Card Offer
21.49% p.a.
0% p.a. for 15 months
$49 annual fee for the first year ($149 p.a. thereafter)
Receive 90,000 bonus Citi reward Points (worth $400 in gift cards) and a $100 Coles eGift Card when you spend $3,000 in the first 90 days. Ends 31 October 2021.
Bank of Melbourne Amplify Platinum
19.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$49 annual fee for the first year ($99 p.a. thereafter)
Get 130,000 bonus Amplify points when you spend $3,000 in the first 90 days and and a first-year annual fee discount.
St.George Amplify Platinum - Qantas
19.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$99
Earn 60,000 bonus Qantas Points, plus enjoy 0% p.a. on balance transfers for 24 months with a 1% BT fee.
Westpac Altitude Black
20.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$99 annual fee for the first year ($250 p.a. thereafter)
Earn 180,000 bonus Altitude Points when you spend $6,000 within the first 120 days. Plus, save with 0% interest on balance transfers.
BankSA Amplify Signature - Qantas
19.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$279
Get 90,000 bonus Qantas Points when you spend $6,000 on eligible purchases in the first 90 days. Plus, a 0% balance transfer offer.
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What is guaranteed pricing?

A guaranteed pricing scheme, or price protection, refunds you the difference in price if you find something you bought with your credit card cheaper elsewhere. This is a popular feature available on many credit cards, especially if they come with other complimentary insurance policies. Requirements for this policy to kick-in usually include the distance from where you bought it, the value of the price difference, and what kind of purchase it is.

Important information

The service is generally free provided certain conditions are met.

Compare credit cards with price protection

All of the cards in the table above have a guaranteed pricing scheme. When comparing, make sure to check features like the annual fee, interest rate, other insurance covers or rewards points.

How do credit cards with guaranteed pricing work?

Credit cards come with a 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, guaranteed pricing scheme when dealing with ANZ, and other names.

Price protection 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 price protection

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

>How do I make a claim?

This will depend on who provides 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.

>Where can I find the terms and conditions for each card?

These can be found in the insurance PDS available on the bank's website.

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