Return Protection

AAA

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).

INVESTOPEDIA EXPLAINS '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. Credit Card

    A card issued by a financial company giving the holder an option ...
  2. Line Of Credit - LOC

    An arrangement between a financial institution, usually a bank, ...
  3. Insurance

    A contract (policy) in which an individual or entity receives ...
  4. Charge Card

    A card that charges no interest but requires the user to pay ...
  5. Warranty

    A type of guarantee that a manufacturer or similar party makes ...
  6. Credit Card Authorized User

    Definition of an authorized user of a credit card.
Related Articles
  1. Financial Footnotes: Start Reading The ...
    Fundamental Analysis

    Financial Footnotes: Start Reading The ...

  2. Did You Buy A Lemon?
    Home & Auto

    Did You Buy A Lemon?

  3. Extended Warranties: Should You Take ...
    Budgeting

    Extended Warranties: Should You Take ...

  4. 3 Credit Card Benefits You’re Paying ...
    Credit & Loans

    3 Credit Card Benefits You’re Paying ...

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center