The year 2018 has indeed been a year of change, especially for the credit card industry. Since the start of the year, we have seen three major credit card issuers pull back, or even eliminate altogether, benefits that were previously extended to their valuable cardholders.

Kicking off the slew of benefit cutbacks was Discover. Five credit card benefits were cut from Discover’s benefits package citing “prolonged low usage” of such benefits. These include Extended Product Warranty and Return Guarantee, among others.

The move by Discover was followed by Citi. In an announcement made earlier this month, Citi announced that they will be drastically cutting down on its damage and theft purchase protection for cardholders and its Citi Price Rewind program, along with other benefits. These cuts will begin later this month.

Chase then followed suit with an announcement a week after Citi’s announcement. It says that it will proceed with its plan to stop offering both Price Protection and Return Protection to customers, which will be implemented on August 26.

Here is a list of all the benefits that were and will be dropped by the three major credit card issuers.


  • Extended Product Warranty
  • Return Guarantee
  • Purchase Protection
  • Auto Rental Insurance
  • Flight Accident Insurance

It was initially announced that Discover would be keeping its popular Price Protection feature. It was rescinded, however, as it will be now be culled on October 31, 2018, ahead of the busy holiday shopping season.


Damage and Theft Purchase Protection

  • $1,000 coverage per stolen or damaged item – from $10,000
  • 90 days to file a claim – from 120 days
  • Exclusions apply to purchases of firearms, ammunition, and jewelry, among other items.

Citi Price Rewind Program

  • Benefit capped at $200 per item going forward – from $500
  • Annual maximum refunds capped at $1,000 – from $2,500
  • Exclusion apply to items such as tires, firearms, and ammunition, among others.
  • Cheaper warehouse club prices will be barred from consideration for this program.

Worldwide Car Rental Insurance

  • Exclusion applies to charges or expenses for the loss of use of the rental car, rental agency fees, or taxes.

Trip Cancellation and Interruption Protection

  • Benefit reduced to a maximum of $1,500 per trip – from $5,000
  • Total calendar year cap of $5,000 for this benefit

90-Day Return Protection

  • Exclusions include firearms, ammunition, and furniture, among other items.


  • Price Protection

Under price protection, the difference of up to $500 on eligible items will be refunded if you are able to find lower prices on items bought any store within 90 days of purchase.

  • Return Protection

Customers are reimbursed up to $250 for each eligible item on purchases made that will be returned to the merchant but are refused by merchants.

One good thing did arise from the recent cancellations as Chase has announced that cardholders will be getting Trip Cancellation/Interruption Insurance and will be added to their accounts soon. The insurance will be worth $1,500 per person and $6,000 per trip for pre-paid, non-refundable passenger fares.