Don’t put your holiday shopping on just any credit card

Your Weekly Advisor Update

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

A Note From Glen

Hello, everyone! Glen here with credit card tips to help you shop smart this holiday season.

Buying gifts can be stressful even in the best circumstances. But what if something goes wrong, like purchasing the wrong model or deciding on a different gift after giving it some more thought? Or maybe a gift gets damaged before you can even give it.

Credit card benefits can take the edge off a stressful holiday shopping season. Read on to learn how.

Happy shopping!

Best,

Glen

Senior Staff Writer

Consumer Finance

How Credit Card Return and Purchase Protection Benefits Work

Return protection and purchase protection should be at the top of the list of the benefits you want on your credit card while shopping for the holidays. Another benefit that could come in handy is price protection, but it’s harder to find.

Return protection extends the return window on eligible purchases, and may also provide an avenue for return if the merchant won’t accept an item. This benefit is mostly found on high-end cards with an annual fee. For example, several American Express cards have return protection¹, as do select ultra-premium Visa credit cards.

Purchase protection is a bit more common than return protection, and can be found even on some cards without an annual fee. In short, this benefit offers reimbursement if you bought an eligible item with your card and it’s damaged or stolen within a certain period of time.

Both of the above benefits will involve fine print—for example, you may not be covered for certain types of purchases, like one-of-a-kind artwork or rare coins.

And then there’s the golden goose egg: Price protection. This benefit offers reimbursement if you buy an item, then see it available afterward at a lower price (even from a different seller). Some issuers have discontinued price protection in recent years, but a few credit cards still offer this perk

If you’re not sure whether your credit card offers these benefits, check your guide to benefits, or call the number on the back of your card and ask your issuer’s customer service team.

Using these benefits will require some legwork on your end. For example, to submit a return protection¹ claim to Amex, you'll need to provide (at minimum) a copy of the original store receipt and documentation from your card account showing a record of the purchase. However, assuming you're willing to jump through a few hoops, these benefits can help give you peace of mind so you can focus on what's truly important—spending time with family!

¹Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details.

Debt Consolidation Loan Vs. Balance Transfer Credit Card

A balance transfer card can be a powerful tool in your debt-busting arsenal. A 0% APR offer on a credit card can save money by having all of your payments go towards knocking out the principal balance instead of some being siphoned away to pay interest charges.

Best Balance Transfer Credit Cards

2022's Best Debt Consolidation Loans For Bad Credit

A debt consolidation loan can be a smart way to streamline your monthly debt obligations and get out of debt faster. However, this debt reduction strategy isn’t right for everyone. And if you have bad credit, qualifying for a debt consolidation loan with an attractive interest rate could be a challenge.

Minimum credit score

560

APR range

7.46% to 35.97%

Loan amounts

$1,000 to $50,000

Here’s what else you should know
this week

Amex Purchase Protection: Everything You Need To Know

For most people, the purchase protection benefit offered by some credit cards flies under the radar. Although this is an oft-overlooked benefit, purchase protection can provide exceptional value.

Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

What Is Price Protection And Which Credit Cards Have It?

Imagine if you had purchased an item only to find it 25% off a week later. For most people, that would be frustrating, but smart shoppers know it’s no big deal. With the right credit card, you can file a price protection claim and have the difference in price refunded to your card.

Levels of Visa Credit Cards and Accompanying Benefits

The difference between these types is that the higher the tier, the greater the benefits and extras included on the card. The exact benefits that come with your particular Visa card, however, are determined by your issuing bank.  

Sponsored Content

For a Limited Time, Earn 80,000 Bonus Points With Chase Sapphire Reserve

Chase’s most premium travel card, Chase Sapphire Reserve®, sits high on Forbes Advisor’s list of the best travel credit cards. It’s no surprise jetsetters might carry a card like this one. It offers high-value benefits such as elevated benefits at curated hotel properties and VIP airport lounge access.

How To Report Social Security Fraud With Aura

If you suspect that someone is committing Social Security fraud, report it to the Office of Inspector General (OIG) as soon as possible. It also may be necessary to contact the Federal Trade Commission (FTC), the Internal Revenue Service (IRS) and local law enforcement. The sooner the authorities are alerted, the better chance they have of catching the culprit and preventing further harm.

Calculate Your Home Equity At Forbes Advisor

Click banner above for calculator

If you’ve been paying down your mortgage for a few years—especially in housing markets where home prices are shooting up—you’ve likely built up equity in your home that you can now access through a line of credit. To see if you might qualify, use this calculator to determine how much equity you might be able to borrow through a home equity line of credit (HELOC).

Put Your Home Equity To Work & Unlock $35K-$300k 

Forbes Advisor compiled a list of home equity lenders that excel in various areas, including offering low fees, low loan costs, convenience and flexibility, so there’s something for people with different goals and financial needs.

Contact US:

Forbes Marketplace
251 Little Falls Drive
Wilmington, DE 19808