My card benefits saved us over $700 — reader success story

March 11, 2020

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5 min read

My card benefits saved us over $700 — reader success story

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Today I want to share a story from TPG reader Marissa, who put her price protection and extended warranty coverage to use after buying new phones:

I signed up for the Capital One® Savor® Cash Rewards Credit Card for the bonus categories, as well as the sign-up offer of cash back and no annual fee for the first year [then $95 ongoing annual fee applies]. This was my first card with an annual fee, so I wasn't sure if I would keep it. One of the first things I bought to meet the spending requirements was two new phones for me and my husband. They cost $799 each, but 45 days later, the price dropped for Black Friday to $650 each. The retailer would not accept returns or reorders after 30 days, and essentially told me 'too bad.' However, the Savor card still had a price protection benefit at the time (no longer available on this card). I filed a claim immediately, and after providing some documentation, we received the $300 difference back within 30 days.

Fast forward a year and a half, and one of our phones had a software issue causing it to shut down and restart randomly. The manufacturer warranty was only 12 months, so back to the benefits portal I went. As a World Elite Mastercard, the Savor card came with an extended warranty that doubled our original warranty period, and our issue qualified for coverage. The benefit provides the lower of the two costs to repair or replace the item, so they issued us a check for $435! Either one of these benefits would have easily covered the card's annual fee for several years; I will definitely be comparing card benefits for all large purchases in the future.<

The information for the Capital One Savor Cash Rewards Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

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You might gravitate toward a credit card for a lucrative sign-up bonus offer, or for other attention-grabbing perks like high earning rates and elite status, but don't overlook less-publicized benefits like price protection and extended warranty coverage. These ancillary benefits tend to get used infrequently, but as Marissa's story illustrates, they can nonetheless be immensely valuable. While only a handful of cards still offer price protection, many provide purchase protection against damage and theft, travel benefits like trip delay coverage and rental car insurance, cell phone protection and other assorted perks. I advise getting acquainted with all your card benefits so you at least know your options when the need arises.

Ideally you have a card that has both a high earning rate and strong protections, but you'll sometimes have to choose between them. For example, I often use The Platinum Card® from American Express when I buy electronics, because it offers both purchase and return protection along with an extended warranty policy. If I were buying from an office supply store, however, I'd be inclined to earn 5 points per dollar using my Ink Business Cash Credit Card instead (on the first $25,000 in combined purchases each account anniversary year), even though that card doesn't offer return protection or an extended warranty (it does have purchase protection). The value of those benefits depends on what you're buying and how much it costs; weighing them against your potential rewards will help you maximize your purchase.

I love this story and I want to hear more like it! In appreciation for sharing this experience (and for allowing me to post it online), I’m sending Marissa a gift card to enjoy on future travels, and I’d like to do the same for you. Please email your own award travel success stories to info@thepointsguy.com; be sure to include details about how you earned and redeemed your rewards, and put “Reader Success Story” in the subject line. Feel free to also submit your most woeful travel mistakes. If your story is published, we’ll send you a gift to jump-start your next adventure. Due to the volume of submissions, we can't respond to each story individually, but we'll be in touch if yours is selected.

Safe and happy travels to all, and I look forward to hearing from you!

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply

Featured image by (Photo by Rob Hampson/Unsplash)

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.