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. Charge Card

    A card that charges no interest but requires the user to pay ...
  3. Insurance

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

    A type of guarantee that a manufacturer or similar party makes ...
  5. Line Of Credit - LOC

    An arrangement between a financial institution, usually a bank, ...
  6. Luhn Algorithm

    An algorithm used to validate a credit card number.
RELATED FAQS
  1. What is the difference between "closed end credit" and a "line of credit?"

    Depending on the need, an individual or business may take out a form of credit that is either open- or closed-ended. While ... Read Full Answer >>
  2. What is the best way to start to rebuild your credit after a bankruptcy?

    Bankruptcies can be devastating to your credit score. Even worse, a bankruptcy will be listed on your credit report for between ... Read Full Answer >>
  3. What were the primary financial crimes involved in the ZZZZ Best case?

    ZZZZ Best was a company started by Barry Jay Minkow that claimed to be a carpet cleaning business. In fact, it was a Ponzi ... Read Full Answer >>
  4. Can a creditor sue me for a delinquent account?

    If a credit card account becomes delinquent, the creditor can sue the debtor for the balance as soon as the delinquency occurs. ... Read Full Answer >>
  5. How do I transfer my credit card history from one country to another?

    It is currently not possible to transfer your credit history to another country if you relocate. The credit metrics used ... Read Full Answer >>
  6. What are some examples of simple interest loans?

    Two good examples of simple interest loans are simple interest car loans and the interest owed on lines of credit such as ... Read Full Answer >>
Related Articles
  1. 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. Credit & Loans

    American Express Cards: Centurion Vs. Platinum

    If you're offered a coveted black card from AmEx, should you accept it?
  5. Credit & Loans

    Credit Cards Offering The Most Airline Miles

    Besides one mile for every dollar spent on purchases, you can rack up thousands more – up to 50,000 – thanks to these cards' intro offers and bonus points.
  6. Economics

    What Does a Creditor Do?

    A creditor is a person or entity that loans money or provides goods or services to another entity with the expectation of being paid back in the future.
  7. Credit & Loans

    Review: Chase IHG Rewards Club Select Credit Card

    This rewards card gives you instant platinum elite status at more than 4,700 Intercontinental Hotel Group properties. Does that make it worth having?
  8. Budgeting

    What is Discretionary Income?

    Discretionary income is an economic term referring to income left over after a person pays taxes and living expenses.
  9. Credit & Loans

    Credit Card Review: Citi ThankYou Premier Credit Card

    This higher-end card provides a wide range of rewards types. The question is: Are they rich enough to be worth the annual fee after the first free year?
  10. Credit & Loans

    Credit Card Reviews: HHonors Reserve Credit Card

    The pros and cons of a famed hotelier's plastic.

You May Also Like

Hot Definitions
  1. Treasury Yield

    The return on investment, expressed as a percentage, on the debt obligations of the U.S. government. Treasuries are considered ...
  2. Bund

    A bond issued by Germany's federal government, or the German word for "bond." Bunds are the German equivalent of U.S. Treasury ...
  3. European Central Bank - ECB

    The central bank responsible for the monetary system of the European Union (EU) and the euro currency. The bank was formed ...
  4. Quantitative Easing

    An unconventional monetary policy in which a central bank purchases private sector financial assets in order to lower interest ...
  5. Current Account Deficit

    A measurement of a country’s trade in which the value of goods and services it imports exceeds the value of goods and services ...
  6. International Monetary Fund - IMF

    An international organization created for the purpose of: 1. Promoting global monetary and exchange stability. 2. Facilitating ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!