Credit Cards with a Guaranteed Pricing Scheme

Information verified correct on September 27th, 2016

Australian credit cards that offer a guaranteed pricing scheme

What is guaranteed pricing?

Guaranteed pricing is a feature many credit cards today come with, especially if they come with other complimentary insurance policies.If you make a purchase using a credit card with a guaranteed pricing policy, and then later find the same item cheaper elsewhere, this policy kicks in to pay you the difference.

Important information

The service is generally free provided certain conditions are met.

Compare credit cards with guaranteed pricing scheme

Rates last updated September 27th, 2016.

ANZ Platinum Credit Card

New balance transfer offer of 0% p.a. for 18 months plus annual fee waiver in the first year.

August 31st, 2016

HSBC Platinum Qantas Credit Card

Bonus points offer has been changed from 40,000 to 60,000 and extended until 31 December 2016.

September 1st, 2016

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

Balance transfer offer has been extended until 31 October 2016.

September 26th, 2016

View latest updates

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Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 20 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 20 months and 1% p.a. for 12 months on purchases combined with complimentary insurance covers.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
BankSA Vertigo Platinum
Enjoy 0% balance transfer rate for 20 months and 1% purchase rate for 12 months if you apply and are approved by 29 September 2016.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
Receive 30,000 bonus Velocity Points and earn 1 Velocity Points per $1 spent. Receive an exclusive $129 Virgin Australia Gift Voucher and two complimentary Single Entry Virgin Australia domestic Lounge passes each year.
20.74% p.a. 0% p.a. for 6 months $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
NAB Qantas Rewards Premium Card
Get 20,000 bonus Qantas Points plus enjoy a low promotional offer of 0% p.a. for 15 months on purchases and balance transfers.
0% p.a. for 15 months (reverts to 19.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $250 p.a. Go to site More info
Citi Simplicity Card
Enjoy up to 55 interest-free days and a low interest rate on purchases plus enjoy free bottles of wine from Citibank Dining Program. Offer ends on 31 March 2017.
11.99% p.a. for 24 months (reverts to 19.99% p.a.) $0 p.a. Go to site More info
Emirates Citi World MasterCard
Receive protection through guaranteed pricing scheme, purchase cover insurance, and extended warranty insurance.
20.99% p.a. 0% p.a. for 9 months $149 p.a. annual fee for the first year ($299 p.a. thereafter) Go to site More info
ANZ Rewards Travel Adventures card
Pay no overseas transaction fee on purchases and receive complimentary domestic return flight and lounge passes each year you hold the card when you spend $500 on eligible purchases within the first three months.
20.24% p.a. $225 p.a. Go to site More info
St.George Amplify Platinum
This card features a balance transfer rate of 12% p.a. for 18 months, 1% p.a. for 12 months on purchases and an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $0 p.a. annual fee for the first year ($99 p.a. thereafter) Go to site More info
Citi Rewards Platinum Card - Cashback Offer
Earn $250 cashback on eligible spend, plus enjoy 0% p.a. balance transfer offer for 12 months, discounted annual fees for the life of the card and a complimentary travel insurance.
20.99% p.a. 0% p.a. for 12 months $99 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive $200 back when you spend $500 in the first 3 months. Also enjoy a $0 annual fee for the first year.
19.74% p.a. $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Velocity Rewards Premium Card
0% p.a. on purchases and balance transfers for 15 months and 20,000 bonus Velocity Points when you make an everyday purchase in the first 90 days of opening your account. You gain both Visa and American Express cards which are linked to one single account and annual fee.
0% p.a. for 15 months (reverts to 19.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $150 p.a. Go to site More info
ANZ Platinum Credit Card
Enjoy platinum card benefits with $0 annual fee in the first year and complimentary overseas travel and medical insurance.
19.74% p.a. 0% p.a. for 18 months with 3% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
A woman holding a credit card and making payments in store

How do credit cards with guaranteed pricing work?

Credit cards today come with a diverse number of features to get you interested in them. Some offer reward programs with bonus points, some offer low purchase rate deals, and others offer complimentary insurances which may protect you and your family when travelling internationally, domestically, or in the event an item you purchase gets lost or stolen.

Guaranteed pricing is one such feature, and is generally found on gold, platinum and black cards. It can also go under the moniker of Price Guarantee Cover in the case of Westpac, Best Price Guarantee Scheme when dealing with ANZ, and other names.

Guaranteed pricing conditions

Guaranteed pricing schemes usually set out the following conditions before you’re qualified to be reimbursed:

  • You need to have bought the item with your eligible card. This usually means that you need to have used your physical credit card to make the purchase.
  • You have a limited time to make a claim within. For many cards, the policies state you need to make a claim within 21 days of purchasing the original, more expensive item. This can be longer, with some policies offering up to 60 days.
  • You need to provide proof of the cheaper item. This is generally required to be a printed catalogue, also printed within a set number of days of buying the item.
  • Proximity qualifications. The cheaper item needs to be found from a store within 25 km of the store where the original item was bought from.
  • Specification qualifications. The two items need to be identical, in terms of model number, year and manufacturer.
  • Other qualifications. Some card providers will allow you to claim for business or personal items, and others will limit the items to being solely personal, or solely business. Some policies will also limit the value of the item to being no more than $10,000.
  • Minimum price difference. Most cards have a minimum price difference you can claim on – usually $75.

If these conditions are met, you’ll be reimbursed up to maximum set amount. This is usually $300 – $500.

How do you compare cards with guaranteed pricing?

Comparing a card with a guaranteed pricing scheme can be done in the following ways.

  1. Find out what the annual fee is. As always, compare the value of the guaranteed policy scheme and any other complimentary insurance policies with the annual fee you’ll be paying each year. If you can’t justify the annual fee then it may be time to look at another card. It’s also useful to compare the fees you may pay for other transactions such as buying something overseas, making a late payment etc, if these fees are likely to apply to you.
  2. Compare the interest rates and interest free days. If you plan to make purchases and carry a balance from month to month, ensure the interest rate is manageable. If you intend to pay your card off each month, then it may be useful to compare cards with 55 interest-free days.
  3. Compare the guaranteed pricing scheme. Many of the credit cards in the market have their insurance provided by Zurich, meaning their policies are almost identical. Still, check that the maximum amount you’ll be refunded you different for one card provider to another. Read the insurance terms and conditions.
  4. Look for any added features and extras. If two cards are equal after the above comparison, it’s useful to look for any added features and benefits. Look for rewards programs, bonus points or balance transfer deals.

Pros and cons of credit cards with guaranteed pricing

Pros

  • Potential to save money. A guaranteed pricing scheme could save you money and turn an embarrassing situation on its head.
  • Peace of mind. If you’re in a hurry and buy a product you can rest easy knowing you have 21 days to find it cheaper and make a claim.
  • The pricing scheme is complimentary. This policy is a complimentary incentive to cardholders, so you don’t have to pay for each claim.
  • No excess. This type of policy usually doesn’t come with an excess, although this isn’t a hard and fast rule.

Cons

  • Higher entry requirement. Many of these cards are platinum cards, meaning they have higher annual fees and income requirements.
  • Could be paying for the scheme with higher annual fees. Some of these cards might add the cost of the policy to the annual fee of the card, meaning if you don’t make a claim/claims in a year you could be paying for nothing.
  • The policy typically doesn’t cover items bought on the internet. Most, if not all cards don’t cover items bought on the internet.

Tips and things to avoid when it comes to cards with guaranteed pricing

  • If you’ll be paying higher annual fees because of this insurance policy ensure it’s a policy you’ll be likely to use.
  • Read the terms and conditions before you apply for any card – don’t be surprised.
  • Keep your receipt and other proof of purchase whenever you buy an important or expensive item.

Frequently asked questions

How do I make a claim?

This will depend on who providers your insurance. In the case of Zurich, which provides the insurance for many credit cards, you simply need to call their hotline with your supporting documents ready.

Where can I find the terms and conditions for each card?

These can be found on our site. Simply search the name of the bank followed by ‘credit card complimentary insurance’ in the search bar at the upper right of the page.

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Credit Cards Comparison

Rates last updated September 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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