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You bought a dress for a holiday party that looked great when you tried it on in the fitting room. But in better lighting, it’s an icky color that you wouldn’t be caught dead in.
Or maybe you bought an HDTV for your family room and discovered (too late) that it’s way too big for the spot you picked out for it.
In many cases, you’ll be able to return the dress or the TV to the merchant. But if you bought something on sale or if it’s a discontinued item, you might be stuck.
If you’re in a situation where the retailer won’t give you a refund, then a perk known as “return protection” might help you recoup all or at least some of your money. Like the other purchase-related perks I’ve written about over the past few weeks, this benefit isn’t standard on all credit cards. Return protection varies by payment network (Visa, MasterCard, American Express, and Discover), but this benefit can also vary by issuer (the bank that issues the card).
To know for sure if you have return protection, you’ll have to read the terms of your credit card agreement. If it’s unclear (wouldn’t that be a shocker?), you can call your card issuer and ask if you’re covered. Even if you have coverage, note that some items will be excluded.
Here are a few basic things you should know:
Once you get the claim started, you’ll be told what to mail along with the item you’re returning, such as the store receipt and the credit card receipt. Before you mail it, make copies of your receipts just in case something happens in transit. Be aware that you’ll have to pay for postage and shipping.
And don’t try to return the item unless it’s “like new” and, if applicable, in good working condition. In other words, don’t wear that dress to multiple parties and then try to get your money back. Believe it or not, there a few people who would try this.
Image: saxarocks, via Flickr.com
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