DEFINITION of 'Return Protection'

A common, but little-known credit card perk allowing cardholders to receive a refund for any item they purchase with the credit card that they are not satisfied with and that the merchant will not accept as a return. Return protection can be useful if the store's return period is shorter than the credit card's return protection period (30 days vs. 90 days, for example).

BREAKING DOWN 'Return Protection'

This program may have a limit per item as well as an annual limit, such as $250 per item and $1,000 per year. To claim the refund, you will likely be required to submit items such as your original receipt and your credit card statement showing the purchase, and you will also likely be required to mail the item, in like-new condition, to the credit card company (effectively "returning" it). All of these things will have to be done within a certain time period for your refund request to be honored. Certain items are likely to be excluded from return protection policies, such as computer software, DVDs, CDs, motor vehicles, jewelry and more.

RELATED TERMS
  1. Price Protection

    A little-known, but common feature offered by most credit card ...
  2. Credit Card

    A card issued by a financial company giving the holder an option ...
  3. Authorized Transaction

    A credit card purchase for which the merchant has received approval ...
  4. Credit Card Authorization Key

    A code used in credit card transaction authorizations that confirms ...
  5. Business Credit Card

    A credit card intended for use by a business rather than for ...
  6. Secured Credit Card

    A type of credit card that is backed by a savings account used ...
Related Articles
  1. Personal Finance

    Surprising Credit Card Benefits

    If you didn't read the fine print, you could be missing out on these free credit card benefits.
  2. Personal Finance

    Credit Card Perks You Never Knew You Had

    From car insurance to concert tickets, be sure to take advantage of whatever your card has to offer.
  3. Personal Finance

    6 Reasons You Shouldn't Fear Credit Cards

    Credit cards shouldn't be feared. When used the right way, they can provide consumers with great rewards and benefits.
  4. Personal Finance

    Credit Card or Cash?

    Credit cards are convenient to use, but not always the best choice. Here are 5 times you shouldn't pay with a credit card – and 5 times you should.
  5. Small Business

    How to Use Small Business Credit Cards

    A small business credit card can be a convenient way to increase your company's purchasing power, but must be carefully managed.
  6. Personal Finance

    Credit, Debit And Charge: Sizing Up The Cards In Your Wallet

    Not all plastic is equal! Learn the difference between the three kinds, and how each can affect your finances.
  7. Personal Finance

    3 New Types Of Credit Cards To Look For

    These three types of credit cards are becoming popular with customers looking to pay less fees and build up their credit scores.
  8. Personal Finance

    How Credit Cards Affect Your Credit Rating

    The average American household has four cards, but does that mean more is better?
RELATED FAQS
  1. Where are secured credit cards accepted?

    Repair a damaged credit history or establish one by opening a secured credit card account with a collateral deposit into ... Read Answer >>
  2. How long should you hold on to credit card statements?

    Holding on to credit card statements can be helpful when they contain personal purchases, tax-deductible items, or products ... Read Answer >>
  3. Because I missed a few credit card payments, the issuer raised my interest rate from ...

    You should first check that your credit card company is operating within your rights as a card holder. The U.S. Congress ... Read Answer >>
Trading Center