Guaranteed pricing insurance got rejected

tyng on 04/07/2014 - 14:52

Long story short, Zurich (insurance provider for my Citibank Signature Card) rejected my guaranteed pricing claim because the better price is not printed on a physical catalogue, despite the better price comes from the same store as where the item was originally purchased and the store has a physical Australian presence. According to the T&C a screenshot of the website doesn't count.

This makes the guaranteed pricing insurance a practical joke because most of the stores that offer better prices don't print catalogues any more.

Are there any credit cards out there that offer more useful guaranteed pricing insurance?

Financial

Related Stores

Citibank Australia
Citibank Australia

Comments

  • PissLUR on 04/07/2014 - 14:58

    28 degrees.

    • No on 04/07/2014 - 15:27
      -2

      doesn't have any insurances

    • tyng on 04/07/2014 - 16:33

      28 degrees PDS reads: "For a Price Protection claim we’ll also need proof and date of the price reduction” but doesn't specify what the required proof is, any idea?

      • PissLUR on 04/07/2014 - 16:45
        +1

        Screenshots.

        • tyng on 04/07/2014 - 18:10

          Great!

          Only downside is the need to pay off balance before due date - I'm a forgetful person :)

  • gevidian on 04/07/2014 - 15:34
    +2

    Their T&Cs clearly state store produced catalogue only.

    Guaranteed Pricing Scheme reimburses Citibank cardholders for the difference in price, up to A$500, between a covered product they have purchased on their card and the same covered product advertised in a store produced catalogue.

    • tyng on 04/07/2014 - 16:27

      I know, I'm not complaining about being 'ripped off'. All I'm saying is the T&C makes the insurance pretty useless, and I wonder if there are better ones out there.

    • Eivad on 04/07/2014 - 16:27

      Yup, I had the same problem with Citibank. The PDS does however state that it must be a store produced catalogue only (a screenshot of a website won't work).

      I would say go with 28 degrees.

    • peteru on 05/07/2014 - 21:46
      +1

      product advertised in a store produced catalogue

      Surely one can argue that a store produced catalogue can be published in an electronic form on the store's website.

  • tko6070 on 04/07/2014 - 15:53

    Bro, do you even read yor PDS?

    • tyng on 04/07/2014 - 16:28
      +1

      I don't read it until I need to use it. Again, I'm not saying I'm being ripped off, I'm just saying the T&C makes the insurance useless in most practical situations.

  • grasstown on 05/07/2014 - 08:16

    Thanks op, I havnt yet used my signature card and doubt I will, except for dining and lounge passes.

  • conan2000 on 05/07/2014 - 16:34

    I don't think this is necessarily a Citibank only issue. Zurich underwrite the insurance of quite a few banks and credit card providers. So you'll likely experience the issue in many different places. I know ANZ Platinum uses Zurich as well, never actually tried to use any of the insurances personally. I figure most of them will be very difficult to get anything out of.

  • peteru on 05/07/2014 - 21:45
    +1

    It's fairly typical with most credit cards to have some benefit advertised in prominent type and then have terms and conditions hidden in the small print. When you read the small print you find that the advertised benefit is as good as useless. For example, the extended warranty that is offered with BankWest Platinum Mastercard has a $100 excess, the products covered have a buttload of limits and exceptions and on top of that the value of the goods is being depreciated at a ridiculous rate - certainly much faster than the ATO will let you depreciate assets. Then there's the 6+ pages of paperwork you need to put together to even make a claim.

    In general, the various protections offered by credit cards are not worth the hassle. You're much better off paying attention to OzBargain postings and finding a good deal on what you don't need. ;-)

    • tyng on 08/07/2014 - 09:56

      Can't agree more. The Signature Card was one good deal I didn't need from OzB, LOL.

  • kiwiinoz on 22/12/2016 - 12:56

    I encountered the same…I think people should know that Online stores are not covered by these dodgy insurance companies….
    But in my case I bought it from Amazon, that have a physical store as well so I have asked them for a clarification…they won't have anything to say I am sure…

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