Credit Card Blog

There were a lot of upset iPhone owners last Wednesday when Steve Jobs announce the price of the 8 gig iPhone was dropping from $599 to $399 just 10 weeks after it was launched. There was so much uproar over it that he later announced that the early iPhone adopters who paid the $599 price would be receiving a $100 store credit. But why settle for the credit when you can get your full $200 back?

If you purchased your iPhone with a credit card, chances are you’re in luck! Many credit cards offer a purchase protection plan and price protection program that consumers rarely take advantage of. The purchase protection plan typically extends the warranty on all items you purchase with a credit cand and covers you if an item you purchase shortly after purchase. The price protection program guarantees the lowest price on items you purchase with your credit card and will pay you the difference up to a certain amount if a lower price is advertised. This period is usually 60-90 days depending on the card.

There are already many reports of American Express and Citibank customers receiving refunds. So if you purchased an iPhone with your credit card, call the number on the back of the card and ask about their price protection program. It may save you $200.