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. Negative Information

    Data in a consumer’s credit report that lowers his or her credit ...
Related Articles
  1. how to read a company's footnotes.
    Fundamental Analysis

    Financial Footnotes: Start Reading The Fine Print

    Find out what could be hidden in this often-overlooked part of the financial statements.
  2. Home & Auto

    Did You Buy A Lemon?

    Find out how to fix a sour deal on your car purchase.
  3. Budgeting

    Extended Warranties: Should You Take The Bait?

    Avoid shelling out for these policies and you could save hundreds of dollars.
  4. It can be great to live in the moment, but the actions and decisions you make now can greatly impact your sense of financial security down the road.
    Personal Finance

    How Do Americans Keep Minimizing Their Net Worth?

    It can be great to live in the moment, but the actions and decisions you make now can greatly impact your sense of financial security down the road.
  5. It's tough to get a credit card when you move to the U.S. with no Social Security number and no American credit history. Here's how to get started.
    Credit & Loans

    Top Credit Card Options For International Students

    It's tough to get a credit card when you move to the U.S. with no Social Security number and no American credit history. Here's how to get started.
  6. Personal Finance

    What Canadian credit cards offer the best travel rewards?

    Discover Canada's best credit cards for travel rewards and the benefits that they offer. Learn how these cards can help you travel safely and happily..
  7. Building back credit after bankruptcy generally starts with getting a secured credit card. Here's how to identify the best deals among the limited choices.
    Credit & Loans

    Which Credit Cards Are Best After Bankruptcy?

    Building back credit after bankruptcy generally starts with getting a secured credit card. Here's how to identify the best deals among the limited choices.
  8. Some credit cards offer particularly good deals for holiday shoppers.
    Credit & Loans

    The Best Credit Cards For Holiday Shopping

    Some cards offer particularly good deals for holiday shoppers. Decision point: Do you need the best possible rewards or 0% interest on your balance?
  9. The annual percentage rate, or APR, is the cost per year of borrowing.
    Credit & Loans

    What's the Annual Percentage Rate (APR)?

    The annual percentage rate, or APR, is the cost per year of borrowing. By law, all financial institutions must show customers the APR of a loan or credit card, which clearly indicates the real ...
  10. A high-interest card with no annual fee and some good rewards, the Walmart Credit Card is worth a look, especially if you regularly shop at Walmart.
    Credit & Loans

    Review: The Walmart Credit Card

    A high-interest card with no annual fee and some good rewards, the Walmart Credit Card is worth a look, especially if you regularly shop at Walmart.

You May Also Like

Hot Definitions
  1. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  2. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  3. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  4. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  5. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  6. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
Trading Center