This complimentary insurance covers you even when a retailer won't refund your eligible purchase.
If you use your credit card to make a purchase and want to return the item to get a refund, these credit cards will cover you even if the retailer won't issue a refund. You can use this guide to compare credit cards that offer this perk as well as other complimentary purchase insurances so that you can shop with peace of mind.
Compare credit cards with refund protection
How does a credit card with refund protection work?
If you use your credit card to purchase an item and try to return it within 90 days of purchase and the retailer won't offer a refund, the card provider will cover the cost of the item. As with all complimentary insurance covers, terms and conditions apply. For example, the cover usually only applies to eligible items. This usually excludes faulty items, purchases that can be returned to a retailer with the standard returns policy or items such as antiques, jewellery and precious stones. Your issuer will usually only cover up to a certain amount (such as $500) and you'll need to have tried to return the item within a set number of days (such as 90 days within purchase). You may also only be able to take advantage of this insurance up to a certain amount within a year.
The claim process will vary, but you'll need to complete and submit a form within a certain number of days. You'll need to provide proof of the purchases, which may include a copy of the receipt or credit card statement.
How does refund protection differ from purchase protection?
Purchase protection cover comes with more credit cards than refund protection. Complimentary purchase insurance usually covers cardholders in the case an item is stolen or damaged within 90 days of purchase. You can compare credit cards with purchase protection cover on Finder. Some credit cards also offer complimentary extended warranty. This means that if an item is defective or stops working after the Australian warranty period, you may be covered by your complimentary warranty insurance.
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