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Credit cards with price protection

Save the difference on already purchased items when you spot a cheaper deal.

1 - 20 of 42
Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC ION Visa
3,500 points
1.5 points per $1 spent
20.99%
$0
Min. recommended credit score: 660
Get 3,500 Avion points when you get approved for the card.
Neo Credit Mastercard
Get $25.00 + up to 15% cash back
Up to 5% cash back
19.99% - 29.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at partner stores and at least 1% cashback guaranteed.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
American Express Cobalt Card
15,000 points
Up to 5x points per $1 spent
21.99%
$155.88
Min. recommended credit score: 700
Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
RBC Cash Back Mastercard
N/A
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 650
RBC ION+ Visa
7,000 points
3 points per $1 spent
20.99%
$48
Min. recommended credit score: 660
Get up to 7,000 welcome points. Get 3,500 points on approval and earn 3,500 bonus points when you spend $500 in your first 3 months.
BMO eclipse rise Visa Card
25,000
Up to 5 points per $2 spent
20.99%
$0
Min. recommended credit score: 660
Earn up to 25,000 bonus points.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
13.99%
$0 annual fee for the first year ($29 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.
RBC Avion Visa Infinite
55,000 points
Up to 1 point per $1 spent
20.99%
$120
Min. recommended credit score: 650
Get up to 55,000 Welcome Points. Get 35,000 points on approval and 20,000 points when you spend $5,000 in your first 6 months. Apply by April 30, 2024.
American Express Green Card
10,000 points
1 point per $1 spent
20.99%
$0
Min. recommended credit score: 700
Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.
BMO Ascend World Elite Mastercard
90,000 points
Up to 5x points per $1 spent
20.99%
$0 annual fee for the first year ($150 thereafter)
Min. recommended credit score: 760
Get up to 90,000 points and get the $150 annual fee waived in the first year.
BMO eclipse Visa Infinite Privilege
120,000 points
5 points per $1 spent
20.99%
$499
Min. recommended credit score: 760
Get up to 120,000 welcome points in your first year.
SimplyCash Card from American Express
$100 in statement credits
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 700
In your first 10 months, earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases. This could add up to $100 in statement credits in the first 10 months.
Scotiabank Passport Visa Infinite Card
40,000 points
Up to 3 points per $1 spent
20.99%
$0 annual fee for the first year ($150 thereafter)
Min. recommended credit score: 700
Earn up to 40,000 bonus Scene+ points and get the first year annual fee waived (that’s up to $1,300 in value in the first 12 months). Apply by July 1, 2024.
Scotiabank SCENE+ Visa Card
7,500 points
Up to 2 points per $1 spent
19.99%
$0
Min. recommended credit score: 650
Earn up to 7,500 Scene+ points in the first 3 months. Apply by July 1, 2024.
Scotiabank Gold American Express Card
40,000 points
Up to 6 points per $1 spent
20.99%
$120
Min. recommended credit score: 700
Earn up to 40,000 bonus Scene+ points in your first year (that's up to $650 towards travel). Apply by July 1, 2024.
Scotiabank Value Visa Card
0% on balance transfers for 6 months
N/A
12.99%
$0 annual fee for the first year ($29 thereafter)
Min. recommended credit score: 670
Get a 0% introductory interest rate on balance transfers for the first 6 months. Plus, pay no annual fee in the first year. Apply by October 31, 2024.
American Express Aeroplan Reserve Card
85,000 points
Up to 2x points
21.99%
$599
Min. recommended credit score: 700
Earn up to 85,000 welcome bonus Aeroplan points. That's a value of up to $2,600 or more when you combine your welcome bonus points and card benefits.
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What is price protection?

If you make a purchase using a credit card with a price protection policy, and you later find the same item cheaper elsewhere, the policy kicks in to pay you back the difference in price so it’s as if you bought the item at the cheaper price in the first place. Your refund will often come in the form of a statement credit.

How do credit cards with price protection work?

Each credit card issuer has its own specific terms and conditions, but they all follow similar rules. For example:

  • You must use your credit card to purchase the item.
    This means the item you purchase has to be charged in full on your eligible credit card. You can’t use cash or debit or a combination of payment methods.
  • Protection time is limited.
    For many cards, the policies state that you need to make a claim between 60 and 120 days of purchasing the item if you find a cheaper price elsewhere. This time frame limit varies between cards.
  • You need proof of the cheaper item.
    You need to provide proof of the same item with the same model number at a lower price.
  • Claim amount limitation.
    All credit card providers limit the amount you can claim. Depending on your card, the maximum amount you can claim is usually between $100 and $500 per occurrence to a maximum of $1,000 annually.

Tip:

  • Always keep your receipt or other proof of purchase whenever you buy an important or expensive item.

How to find out which items are eligible for price protection

In most cases, all regular retail items in Canada are eligible for price protection except for the following: computers and certain electronics; vehicles such as cars, boats, aircraft; items used for business; tickets; second-hand or liquidated items; fine art; and animals and pets. The price protection terms and conditions list all exclusions from this perk so check your card’s individual policy.

How do you compare cards with price protection?

  1. Find out what the annual fee is.
    It may not be worth paying the annual fee if price protection is the only perk you’re interested in. You should also weigh the card’s other benefits to see if the annual fee is worth it.
  2. Compare the interest rates.
    If you plan to make purchases and carry a balance from month to month, ensure the interest rate is right for you. If you intend to pay your card off each month, then it may be useful to compare rewards credit cards.
  3. Compare price protection policy.
    Price protection is similar between card providers. The only difference you may find is the length of your covered period and the dollar amount limitations.
  4. Look for added features and extras.
    It’s useful to look for any additional features and benefits like bonus points or balance transfer deals.

Pros and cons of credit cards with price protection

Pros

  • Potential to save money. A price protection policy could save you money by making sure you never miss out on a deal for an item you purchase.
  • Peace of mind. If you’re in a hurry to buy a product, you can rest easy knowing you have 60-120 days (depending on the card) to find it cheaper and file a claim.
  • Price protection is complimentary. You don’t have to pay extra to use this perk.

Cons

  • Not many credit cards offer price protection. There isn’t a huge variety of credit cards that currently offer this perk.
  • Coverage amount is limited. Maximum coverage is usually up to $500 per claim and $1,000 per year. But this amount varies between cards.
  • Not all retail items are covered. All card issuers have a list of items and services that aren’t covered with price protection. Make sure you review your card’s policy.

Bottom line

Price protection is an excellent credit card perk that reimburses you the difference in the price of an item that you purchased and a cheaper price you happen to find within a set time frame. Not all credit cards offer this perk but there are many other kinds of credit cards that offer different kinds of rewards. Check out and compare the best of rewards cards here.

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