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PSA: MasterCard price protection and extended warranty gone as of July 1st 2019.

4,779 1,709 July 1, 2019 at 09:05 AM in Computers
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Last Edited by juggar July 1, 2019 at 09:11 AM
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Purchases prior to July 1st will be covered. Another one bites the dust. Some card issuers may opt to retain the benefit at their own cost but this should be few and far between.

For those wondering, the limit was 4 claims per 12 month period with a maximum of $250 per claim for a total of $1000 per year if utilized to its fullest. The trick was that you could potentially have unlimited MasterCards, even some Debit cards had this program.

Effective July 1, 2019, this benefit will no longer be offered as a result of changes to the Mastercard consumer credit card program. For questions about your card benefits, please review your Guide to Benefits, contact your issuing financial institution, or call 1-800-MASTERCARD (1-800-627-8372).

https://www.mastercard.us/en-us/c...rcard.html
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#2
wow, that's quick.
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#3
Quote from fyu
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wow, that's quick.
I believe it was announced in April (with no date) but I didnt see the footnote on the site until very recently.

I cant blame them for wanting to avoid a Discover fiasco, those guys were going through claims until like March of the next year and the program ended in October....
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#4
Love how these credit card companies are able to alter terms of contracts with customers at their discretion. Try sending the cc company a letter informing them "effective July 1st I will require an interest rate reduction to 1%"....isn't this some sort of bait and switch or beach?
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#5
Today seems like PSA Day. Any other changes on July 1st besides Mastercard and urlhasbeenblocked to be posted. Who's PMSing about all these changes?
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Quote from hapollo
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Today seems like PSA Day. Any other changes on July 1st besides Mastercard and urlhasbeenblocked to be posted. Who's PMSing about all these changes?
Urlhasbeenblocked?
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#7
I don't get dropping the extended warranty stuff. While price protection can easily be abused, I don't see how the warranty stuff could be.
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#8
Another casualty of the gonifs who cheat these plans by doing price matches to shady merchants who can't actually fulfill the deal, and fraudulent returns.

The credit card companies have realized these plans disproportionately lure the people who abuse them. No need to add those people to the customer base.
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#9
Quote from hapollo
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Today seems like PSA Day. Any other changes on July 1st besides Mastercard and urlhasbeenblocked to be posted. Who's PMSing about all these changes?
Banks have done research showing that July/August is the best time to push unpopular changes. With everyone at the beach on the vacation, who has time to follow up and fight with the bank? The statistics show that people are less likely to notice.
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Quote from caveman017
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I don't get dropping the extended warranty stuff. While price protection can easily be abused, I don't see how the warranty stuff could be.
they probably figured that it doesn't attract enough customers. A ton of people don't even know of these benefits.

Remember when discover didn't offer this stuff at all, and then added it and now removed them.
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Quote from fyu
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Urlhasbeenblocked?



hmmm. that's new E B A Y T a x e s is urlblocked now? Must be due to the ^*&^ storm the PSA about taxes generated today.
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Quote from hapollo
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hmmm. that's new E B A Y T a x e s is urlblocked now? Must be due to the ^*&^ storm the PSA about taxes generated today.
rofl. they blocked ebay t a x e s?
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#13
I have a Capital One credit card. Used the PP once since last year. Never received advance mail or notice regarding the changes. I guess time to stop using credit cards, don't see a reason anymore.
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#14
Quote from kwadguy
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Another casualty of the gonifs who cheat these plans by doing price matches to shady merchants who can't actually fulfill the deal, and fraudulent returns.

The credit card companies have realized these plans disproportionately lure the people who abuse them. No need to add those people to the customer base.
This is not why the benefits are being cancelled. People need to stop spreading this FUD.

The reason this benefit is being cancelled is because of the sites that were automating *thousands* of claims for a few cents per item. The administrative burden caused by this was enormous, and it made the program untenably expensive.

I understand that we all want to claim moral superiority over others (it's a daily occurrence on Slickdeals) but "shady" price matches represent an infinitesimal cost to CCs. The automated price matching sites were a far larger cost because of the associated overhead.
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#15
Quote from hapollo
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hmmm. that's new E B A Y T a x e s is urlblocked now? Must be due to the ^*&^ storm the PSA about taxes generated today.
Quote from fyu
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rofl. they blocked ebay t a x e s?
No, it's unintentional due to another filter.
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