What is purchase protection on a credit card?

Purchase protection is a benefit offered with some credit cards. It allows a cardholder to receive a refund or replacement if the item purchased with an eligible credit card is damaged or stolen.

What happens if you purchase a defective product with a credit card?

If you purchase a defective product with your credit card and the merchant refuses to replace it, you may have recourse. If you discover mistakes on your periodic statement, the law provides a way for you to correct these.

What happens when you put a purchase on a credit card?

Keep an eye on your inbox—we’ll be sending over your first message soon. Putting a purchase on the right piece of plastic may help you have it replaced if what you buy is damaged or stolen, get a refund for an unsatisfactory product or service or even extend the manufacturer’s warranty without paying a dime for the added protection.

How much is the American Express purchase protection card?

Purchase protection Card Annual fee Purchase protection Chase Sapphire Reserve® $550 $10,000 per claim and $50,000 per accoun The Platinum Card® from American Express $550 $10,000 per incident and $50,000 per yea American Express® Gold Card $250 $10,000 per incident and $50,000 per yea

When to use purchase protection on credit card?

The purchase protection benefit offered by select credit cards covers eligible purchases against accidental damage or theft — and for some cards, loss — in the first few months after you use an eligible card to pay for the purchase. Not all purchase protection benefits are created equal.

Can you use Home Depot credit card at EXPO Design Center?

*Offer subject to credit approval. This offer is valid and redeemable for an additional 5% discount by statement credit on a single receipt purchase at The Home Depot® retail stores when made with The Home Depot or EXPO Design Center Consumer Credit Card.

What happens if you make a business purchase with a credit card?

Business purchases – The card issuer has no responsibility for the transaction if a purchase was made for business purposes. If you’ve already paid for your merchandise – it won’t help to contact your credit card company if the purchase has already been paid.