Purchase Protection: See if your credit card entitles you to the benefit

Lesser known than traditional benefits such as travel insurance, secure purchase and price protection are among the advantages offered by credit card brands. They allow reimbursement in specific cases and act as insurance for products purchased with the card.

Some cards may be subject to annuity payments, which vary according to the issuing bank and must be taken into account by the consumer.

In addition, care must be taken so that its advantages do not encourage misuse, as the card can become a trap for indebtedness. According to data from the Central Bank, interest rates on credit card revolving can reach 22.47% per month in financial institutions.

“These promotions are made to attract customers, but they cannot be a determining factor for the product to be purchased”, says economist and financial planner Bruno Mori.

“The world is experiencing this movement to try to retain customers, but I see that this cannot be a decisive appeal. First I have to have things organized and then, if it’s something I know how to handle, focus on the benefits of the card.”

purchase protection

Which is?

Purchase protection is a kind of insurance for cases of theft, theft or physical damage to the goods purchased with the card, valid for a period after the purchase.

It allows for the repair, replacement or refund of the product, with conditions, eligible goods and indemnification amount varying between brands and types of card.

Which cards offer the benefit?

• Mastercard: Gold and Black cards
• Visa: Gold, Platinum, Signature and Infinite cards
• Elo: Elo Mais, Elo Grafite, Elo Nanquim and Elo Diners Club cards
• American Express: Santander Gold and Platinum cards

Check the details:

For the Mastercard brand, the secure purchase is available on the Gold card for occurrences within 30 days of purchase. The maximum amount is US$200 per incident and US$400 per year, not exceeding the purchase amount charged to the card. On the Black card, the period is 90 days after purchase and the maximum amount is $5,000 per incident and $20,000 per year.

Original receipt, official copies of the incident report in case of theft and certified copies of repair quotes in case of damage must be presented.

In the case of Visa, purchase protection is valid for up to 180 days after purchase, covering expenses to repair or compensate the product. The maximum benefit amount varies depending on the card used for the purchase:

• Gold: BRL 3,300 per event and per year
• Platinum: BRL 16,500 per event and BRL 33,000 per 12-month period
• Signature: BRL 16,500 per event and BRL 33,000 per 12-month period
• Infinite: BRL 33,000 per event and BRL 66,000 per 12-month period

The Elo flag offers the benefit upon issuance of a purchase protection insurance ticket for the product, which is valid for up to 45 days after the date of purchase, with a maximum indemnity limit of R$5,000.

For American Express, the Santander Platinum card covers up to $5,000 per event, capped at $25,000 per year, for accidental damage or theft; on the Santander Gold card, up to US$1,000 per event, limited to US$5,000 per year.

The complete list of eligible goods and conditions for each brand can be found on the companies’ websites.

price protection

Which is?

Price protection is intended for cases where the cardholder finds an advertisement for a product they recently purchased, with the same specifications, at a lower price, allowing for a refund of the difference between the values.

Which cards offer the benefit?

• Mastercard: Gold card
• Visa: Gold, Platinum, Signature and Infinite cards

Check the details:

On Mastercard, the product purchased must have a minimum price of $50 and the ad must have been posted within 30 days of the purchase date. The maximum amount receivable is US$100 per incident and US$200 per year.

At Visa, this is one of the most used benefits, according to the director of productions and solutions at Via Brasil, Flávio Aguiar. The difference is refunded for products costing at least R$150, purchased with eligible cards, and for advertisements published within 30 days of purchase. The value of the benefit varies according to the card used for the purchase:

• Gold: BRL 1,320 per event and year
• Platinum: R$1,650 per event and R$6,600 per year
• Signature: BRL 1,650 per event and BRL 6,600 per year
• Infinite: BRL 13,200 per event and year

The complete list of conditions and goods eligible for the benefit is available on the websites of the brands.

Why do flags offer benefits?

The brands enable the purchase and sale of credit cards. To stimulate transactions, they offer benefits.

“The more you use the card, the more the brand earns, in addition to encouraging banks to issue the card with your brand and the acquiring companies to receive the card”, says Ricardo Vieira, executive vice president of Abecs (Brazilian Association of Card Companies). Credit and Services).