iPhone Price Drop -- Credit Card Price Guarantee

tazzy531 said: First of all, the background is covered here in this prior thread: Credit Card Free Benefits

Steve Jobs just announced that the iPhone 8Gb is dropping in price from $599 to $399. That is $200 difference for us early adopters.

Luckily, a lot of credit cards have Price Protection Program. You can file a claim with your credit card company to get the difference in price back. Obviously, there are a number of stipulations.

Citibank Mastercard - The Price Protection Program helps you get the best price you can find on most products you buy. If you buy an item with your MasterCard or Visa card, and if within 60 days after your purchase you see a printed advertisement for the same item (same model number and same model year) by the same manufacturer for

a lower price, we will refund you the price difference, up to $250 per item (up to a maximum of $1,000 per cardmember per year) provided the printed advertisement was published on the same day as or within 60 days after your purchase. No registration is necessary.



Unfortunately, the release date for the iPhone was 68 days ago. I got mine on the release date. If you got it after, file a claim immediately.

Please help list other price guarantees for other credit cards.

In addition, check your benefits. Citibank CCs also cover lost, stolen, accidental breakage up to $500.

Wow did realize that Steve jobs red the fine print on his CC agreemants. Release new prices 68 days after release. 8 days after this CC Price Protection Program coverage ends.

Btw, how does CC comapanies make money off of this? Do they charge back the original store?

timless said: Btw, how does CC comapanies make money off of this? Do they charge back the original store?

It's part of their benefits program. Read the other thread for other benefits, such as rental car insurance, travel insurance, and extended warranty.

The thing is very few people actually take advantage of this. The idea is that credit card processing fees are something like 2% of the purchase price. So for the $600 iPhone, Credit Card companies make around $12. If a small percentage of the people file a claim, they still make a profit.


mushx said: They would charge the 200 back to the store which it was purchased...
That is incorrect. It comes out of the CC company's insurance policy. Nothing gets charged to the store.

kenmacdonald said: I used my AMEX on launch day....anybody know their policy for price protection?

AMEX has a 90 Day Return Guarantee.
If you purchase something and the merchant refuses to accept a return within 90 days, AMEX will refund you the full amount.
Unfortunately, the fine prints specify this doesn't apply to Cell Phones

Dude. That's awesome. I got mine freakin 6 days ago. grrr.
Question on the details though, Citi states:
A printed advertisement is an advertisement appearing in a newspaper, magazine, store circular, or catalog which states the authorized dealer or store name, item (including model number), and sale price... ...attach legible copies of the merchant receipt, the printed advertisement...

So, what should I do about the little detail of the printed advertisement and model number? I don't recall any apple circulars in store for pickup? If I find a magazine ad, It probably wont have the model number... you know how picky these guys get. Ideas?

neuromajor said: Dude. That's awesome. I got mine freakin 6 days ago. grrr.
Question on the details though, Citi states:
A printed advertisement is an advertisement appearing in a newspaper, magazine, store circular, or catalog which states the authorized dealer or store name, item (including model number), and sale price... ...attach legible copies of the merchant receipt, the printed advertisement...

So, what should I do about the little detail of the printed advertisement and model number? I don't recall any apple circulars in store for pickup? If I find a magazine ad, It probably wont have the model number... you know how picky these guys get. Ideas?

If it's under 14 days, I think it may be easier to just go to the Apple Store and ask for a refund on the difference.

danny12345 said:
So I'm wondering what to do next. I printed out the webpage from Apple that has the 4 Gb model priced at $299, but really am at a loss. Does anyone have any suggestions?

That stinks. Since the discontinued 4GB models are unlikely to ever make an ad at their reduced price point, you're in trouble. Stores that still have stock will sell out quickly, and online prices don't count. Your only option may be to provide an ad for the 8GB model when it comes out and hope it goes through. I don't know how thoroughly they check that sort of thing, and you'd only be getting $100 back, but you might not have another option.

You have some time, though. I'd wait awhile and see if any ads come out.

danny12345 said: Hi all,

Thought I'd share my iPhone story with you. I bought a 4 Gb iPhone on August 4 for $499. Found out today that the price had been cut by $200 (angry - but that's another story/thread...) and promptly phoned up the Mastercard Price Protection people (FYI, I have a Citi Mastercard). They took my details but reiterated that I have to have a printed advertisement in order to be able claim a refund.

I dashed down to the local Apple Store, found out that 1) all 4 Gb models had been sold, and 2) Apple stores don't carry any signage anyway, so I couldn't get any hardcopy receipt to use for my claim. I spoke to the manager of the store about this, but he was unable to help me in the slightest.

So I'm wondering what to do next. I printed out the webpage from Apple that has the 4 Gb model priced at $299, but really am at a loss. Does anyone have any suggestions?

Cheers,

Dan.

YMMV at different Apple stores, but I do not see why the Apple Store manager cannot print out or photocopy a price sheet for you. When I did a similar thing for my iPod a while back, my local Apple Store mgr pull out a sheet that lists product descripts, model #/part #, and prices. I used that on my Mastercard claim and all was fine.

consider it a fanboy tax.

hitechjunkie said: New iPod touch - nice!

for 299 might as well buy the phone

I'm going to try and claim this back tomorrow on my BofA WorldPoints Mastercard. According to my agreement I have Price Protection coverage for 60 days after purchase (and I bought mine 3 weeks ago). It says I either need a copy of the lower priced, printed, dated ad, or a statement signed by the store manager on store stationery documenting the lower price. I might have to go for the latter depending on whether they'll accept a printout from apple's website.

I'll report back after I call them tomorrow.

tazzy531 said: kenmacdonald said: I used my AMEX on launch day....anybody know their policy for price protection?

AMEX has a 90 Day Return Guarantee.
If you purchase something and the merchant refuses to accept a return within 90 days, AMEX will refund you the full amount.
Unfortunately, the fine prints specify this doesn't apply to Cell Phones

But it is covered under the "Lost, Stolen or Broken" clause.

g10ny said: Microsoft Zune has also had the MSRP decreased to $199 yesterday.

If a tree falls in a forest and no one is around to hear it, does it make a sound?

So, I called my credit card company (Bank of America Worldpoints Mastercard), and I do have Price Protection (I knew that already...) and they are sending me a claim form. I also asked if I need an actual print ad from a newspaper or if I can have a printout from Apple's website, and she had to go away and ask her supervisor who said a printout from the website would be fine.

Here's hoping this all works out!

I believe cell phones are often on the list of items excluded from the price protection. Read the fine print.

digduggler said: Man I feel more chumpish than I have in a long time. I knew I was paying a premium and could justify it in my head. But a 33% price drop 2 months in is usually a move of desperation.

Same here. I'm a huge Apple fan and this is the first time that I have felt let down by them.

Has anyone had any luck with find a print ad? I bought my phone with my Citibank card I called for the price protection - since its within 60 days I'm covered but the rep said he wasn't sure if the online printout will work. I tried both Apple and AT&T stores neither had a any kind of advisements.

tazzy531 said: First of all, the background is covered here in this prior thread: Credit Card Free Benefits


Luckily, a lot of credit cards have Price Protection Program. You can file a claim with your credit card company to get the difference in price back. Obviously, there are a number of stipulations.

Citibank Mastercard - The Price Protection Program helps you get the best price you can find on most products you buy. If you buy an item with your MasterCard or Visa card, and if within 60 days after your purchase you see a printed advertisement for the same item (same model number and same model year) by the same manufacturer for

a lower price, we will refund you the price difference, up to $250 per item (up to a maximum of $1,000 per cardmember per year) provided the printed advertisement was published on the same day as or within 60 days after your purchase. No registration is necessary.


I'd like to point out that the quoted Citibank Price Protection isn't included with every Citibank Mastercard. I just called in to inquiry about this for my 'Citibank Platinum Dividend MC' and Price Protection is not included as a feature. I do have "Purchase Assurance" with the card, however this does not include any form of Price Protection:

Purchase Assurance said: Purchase Assurance® protects most purchases made on your card against theft or accidental damage up to $1,000 for up to 90 days from the date of purchase. Extended Warranty may extend the terms of the original manufacturer’s U.S. warranties for up to one additional year on most items purchased with your card.

However, on my 'Citibank Dividend AMEX' I do have the Price Protection coverage. So just be aware that this is not on every Citibank Mastercard, but it may be on any type of Citibank issued card depending on the specific card's features.

As a side note, when I called in and asked about the 'Price Protection' feature, the customer service guy instantly asked, 'Is this about the iPhone?' He said that he has personally fielded 10 questions during the first 3 hours of his shift.

Duane-O

Just on Reuters news this minute per CNBC: $100 credit if you bought iPhone including at ATT store anytime. I have no idea of the details. "let the cluster**** begin!.

Can this be combined with the BVG from the credit cards? Effectively getting $300 off ($200 BVG and $100 Apple Store credit)

disclosure: I don't have the iphone (loyal to my Pearl and tmobile)