Price protection definition

Price protection is basically defined as follows: if you make a qualifying purchase with your card and find the same product advertised in Canada at a lower price within 60 days of purchase, the difference will be refunded, up to $500, subject to a calendar year maximum of $1,000 per account. Certain conditions and exclusions apply.

How to make a claim

Making a claim is pretty easy. All you have to do is call the number provided by your credit card company to file a claim as soon as you discover the lower advertised price. The administrator will then send you a request form, and you’ll need to provide three things:

  1. A customer and merchant copy of your sales receipt
  2. A copy of your credit card statement in which the purchase transaction was made
  3. A dated advertisement/flyer to prove that the identical item was offered in Canada at the reduced price within 60 days of the date of your purchase

After you first call the administrator, they will determine whether they want to pay you the difference or buy back the original item from you at the original price.


In general, most retail items purchased in Canada are covered by credit card price protection. All issuers offering price protection will only cover items that were fully purchased with their card, however, so no paying in cash. Other typical exclusions include computers and electronic devices, vehicles (cars, riding lawnmowers, motorcycles, RVs, etc.), gift cards, fine art, anything living (like pets), insurance, any kind of ticket (airfare, entertainment, common carrier), and items bought for business. Items bought at second-hand/refurbished stores are also ineligible, as are those that were marked down for being “gently used” or a “floor model”.

Also, you can’t double-dip. Some stores offer price match policies where you can get the difference refunded, so in that case, you can’t make an additional claim with your credit card. Lastly, as with most credit card perks, benefits, and rewards programs, you’ll only be eligible if your account is in good standing, i.e., don’t be late!

Which Canadian credit cards offer price protection?

Interestingly, most of Canada’s best credit cards don’t offer price protection. The cards we know of that do offer price protection are the Capital One® Aspire Travel™ Platinum Mastercard® (as do other Capital One credit cards), the MBNA Rewards World Elite® Mastercard® and not many others.

The MBNA Rewards World Elite® Mastercard® price protection goes a lot further than CapOne’s Aspire card because it offers protection up to $500 per occurrence with a $1,000 per year cap, while CapOne only offers $100 per occurrence with a $500 yearly cap.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

How to exploit price protection

One way to help you find out if your item has gone on sale after purchase is to use a price-checking tool or app. Simply plug the identical item into your price checker and let it work its magic. If you’re lucky, within the next 60 days, you’ll find the item at a steep discount. Check out, or to help you get started.


Price protection is an unbelievably powerful tool. Even if you’re buying items for the holidays, if you find the same item advertised for sale in Canada on Boxing Day, Black Friday, Cyber Monday, or any other deep discount day, you can still take full advantage and end up with a best price guarantee.

So, the next time you see something that catches your eye, don’t get stressed over whether you’re getting the best price. Buy it, then take the next 2 months to see if you can find a better deal. Enjoy!

About the Author Editorial Team

The Editorial Team is a group of passionate financial experts, seasoned journalists, and content creators who are deeply committed to providing unbiased, relevant, and accurate financial information. With years of combined industry experience, our team is dedicated to maintaining the highest journalistic standards and delivering informative and engaging content. From personal finance and investing to retirement planning and business finance, we cover a broad range of topics to suit the financial needs of our diverse readership. You can trust the Editorial Team to empower you with the knowledge and tools necessary to make wise financial decisions.

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