Price matching is not a new credit card perk, but it’s one that consumers often overlook — potentially forgoing $1,000 or more in holiday savings.
Some call it price matching, some call it a price guarantee, but no matter the name, many credit card issuers and network, including Discover, Citi and MasterCard MA +0.03% , are offering consumers refunds for the difference in price should they buy an item and then find it for a lower price later on. Discover says it’ll refund the difference up to $500 if you find your item at a lower price within 90 days of making a Discover card purchase, Citi says it will refund the difference in price up to $250 per item within 30 days of the purchase, and MasterCard says it will also refund up to $250 but within 60 days.
They say they’re offering this perk because it’s popular with customers. Citi, for example, says it launched a limited version of its price-match program in 2010 but last fall expanded it to cover all of its cards, because of positive consumer feedback. Discover says that their program, which they launched in June 2012, has been “very well received” by cardmembers.