Price adjustments: getting money back when prices drop

You buy something, and a week later the same store sells it for less. Many retailers will refund the difference if you ask within a set window, which is called a price adjustment. The windows are short and the exclusions are specific, so it pays to know the rules before prices move.

How a price adjustment works

A price adjustment is a refund of the difference between what you paid and a store's new, lower price for the same item. You usually need to:

1. Ask within the store's window, counted from the purchase, order, delivery or receipt date depending on the store.
2. Show proof of purchase, such as a receipt, order number or packing slip.
3. Have the identical item at the new price from the same retailer, not a different color, size or model.

For example, if you bought a $200 blender and the store drops the price to $160 within its window, you would ask for the $40 difference back. Macy's, for one, says refunds go back to your original payment method.

A price adjustment is different from a price match, where a store agrees to beat or match a competitor's price. Some stores do both, some do only one.

Store policies, as published today

These windows come from each retailer's own policy page. Policies change, so open the page again before you make a request.

Target. Target says price matches may be requested at the time of purchase or within 14 days after purchase, and you need the original receipt or packing slip. The policy covers Target's own prices across Target.com, its stores and Target Circle deals. It excludes clearance and closeout items, open-package and refurbished goods, and several offers, and Target coupons can't be combined with a price match.

Best Buy. Best Buy says that if it lowers its in-store, online or app price during the return and exchange period, it will match its lower price upon request. It also matches certain key competitors on identical, immediately available new products. Exclusions include Marketplace items from third-party sellers, clearance, open-box and refurbished products, and competitors' Black Friday prices. The standard return period is 15 days for most products, and 60 days for My Best Buy Plus and Total members. Purchases made from October 30 through December 31 follow a separate holiday schedule, so check the return policy for those dates.

Apple. Apple's sales policy says that if Apple reduces the price of an Apple-branded product within 14 calendar days from the date you receive it, you can visit an Apple Store or contact Retail Customer Care within 14 days of the price change to request a refund or credit of the difference. It excludes limited-time price reductions and special sales events, such as Black Friday, and covers up to 10 units of a product.

Macy's. Macy's says standard purchases qualify if the price drops within 10 days of your order date. Furniture and mattresses use 10 days from delivery or ship date. Promotional discounts can't be combined with an adjustment, and certain merchandise, promotional offers and clearance items may not qualify. Online orders are adjusted by phone, and in-store purchases need your receipt.

We checked other large retailers too, but only list policies we could confirm on the store's own page today.

Watch out for these exclusions

Across these policies, the same kinds of items and prices are commonly left out:

• Clearance, closeout, open-box or open-package and refurbished items
• Limited-time sales and special events, such as Black Friday
• Items sold by third-party marketplace sellers
• Prices that depend on coupons, bundles, gift card offers or rebates

If a drop comes from one of these, you may not qualify, even within the window.

What about credit card price protection?

Price protection was a card benefit that refunded the difference when an item you bought with the card dropped in price elsewhere. Several issuers have ended it. For example, One Mile at a Time reported that Citi's Price Rewind program ended for purchases made as of September 22, 2019, and The Points Guy reported that USAA discontinued price protection on its cards as of August 31, 2019.

Benefits change, and they can differ between cards from the same issuer. Before counting on price protection, read your card's current guide to benefits or call the number on the back of the card. If it isn't listed there, assume you don't have it.

Tips to actually get the money

• Save proof of purchase. Keep the email receipt or a photo of the paper one.
• Note the deadline. Put the last day to ask on your calendar when you buy.
• Check before the window closes. A quick look near the end of the window catches drops you would otherwise miss.
• Compare with a return. If a store won't adjust but the item is still returnable, returning and rebuying at the lower price can sometimes work, subject to the store's return rules.
• Ask politely and be specific. Have the item, the price you paid, the new price and the date ready.

How SpendySaver helps

In Save money, a 90-day price watch keeps an eye on items you've bought and tells you if the price drops, so you can request an adjustment while you're still in the store's window. You can also turn on price-drop notices in Alerts. SpendySaver doesn't contact the store for you, so you'll still need to make the request yourself.