We all see ads for $99 large screen TVs a day after Thanksgiving and wonder if a 3 hour wait at 4am in the morning in potentially dangerous crowd is worth the trouble? What if you can get these prices without all the hassle? You can!
By taking advantage of Discover Card or Citi Card price protection benefits, you can actually do the following:
1) Wait until a week or so before Thanksgiving when Black Friday ads from various stores come out. Make sure you save the ads for step 3.
2) Buy the products you want at whatever prices from either these stores or your favorite stores. Make sure you charge it to your Discover or Citi card.
3) Wait until a day after Black Friday and submit a price protection claim to your credit card. You should expect to get a payment from the credit card claims department for upto $500 per item (upto $2500 in total claims per calendar year).
Yes, it's a bit of work (maybe 30 minutes in total of your time in front of a computer), but sure beats the 4am black Friday crowd.
A few relevant items to note:
- If you are buying multiple items of the same type using Discover, try to stagger your purchases the week before Black Friday to limit 3 per day, as based on a card there is per day price protection exclusion. Citi doesn't have per item/day limit, but Discover does.
- Some exclusions apply, refer to your credit card. Perishables, used items, jewelry, etc are excluded.
- Other credit cards like Mastercard and Chase also have price protection, but exclude Black Friday, Cyber Monday sales
- Black Friday sales at wholesale clubs that require memberships maybe ineligible. Better stay with large chain stores like BestBuy, etc.