During a recent trip, my evening return flight was canceled due to the weather. This meant that I needed a hotel, but because the cancellation was not due to a mechanical problem, the airline would not pay the bill. I stuck with it.
What I did not know was that my credit card bank, Chase, would have stepped in to cover those costs. How many (most?) People are unaware of the benefits that I get as a cardholder. Sure, I knew about the points I earned with each purchase, and I was pretty sure I could get an extended warranty for certain product purchases. But travel insurance? I had no Idea.
Enter Sift, a service that catalogs every benefit offered by a variety of credit cards, with complete descriptions of each and instructions on how to access them.
That's quite useful, but Sift also tracks your purchases and notifies you about price cuts, return options, warranty service, and more. It can even automatically receive a refund if there is a valid price protection policy.
Here's how it works
Install the app
Sift is in app-form for Android and iPhone, but also the company has a website available if you prefer to log in to a browser , However, the portal (currently in beta) lacks some important features, so I definitely recommend using the apps.
Incidentally, there are no direct costs to use Sift, but if the service can save you money (see below), you will be charged 25 percent of those savings.
Link your cards and accounts
To get the most out of Sift, you need to add at least one credit card. Fortunately, that does not mean sharing your actual card number. You can easily add one or more maps by browsing or browsing the list and selecting them by name.
If you want to see and enjoy the benefits associated with individual purchases (price protection, return options, etc.), add the last four digits of your card number. This allows Sift to match your purchase receipts with the correct card.
Finally, Sift asks you to twist your privacy in another attempt to link yours Amazon account ̵
Check Your Benefits and Purchases
Once you have completed these steps of the sift profile, you can begin with the various benefits. For example, tap Credit Cards to get a summary of the benefits of each card. You can tap one of them for more information – in some cases, a link and a phone number to take advantage of it.
I have to admit that I loved to see all of these benefits listed in a suitable location. Most of them were news to me. It's not like they're listed anywhere in my chase app, and even browsing the Chase page was not particularly fruitful. I actually had to google to find the card benefits of the bank, and even then they were not presented as fully or efficiently as they were here.
Next, check out purchases to see items I've purchased through Amazon and your linked credit cards. For each item you will see which options are available for price protection, warranty and return. You can also search for a particular purchase – useful for long lists – and filter the results based on the item type.
Tap Drops to see an automatically updated list of price changes for your past purchases. (Pro Tip: Allow the app to notify you if it discovers one so you do not miss the window.) If possible, Sift will intervene on your behalf to sue either with your credit card or at a discount
To use this, however, you must keep a credit card, so that Sift can charge you 25 percent of what you can save. (This fee occurs once a month.) For example, if the service finds three price drops in a month and is able to receive $ 20 in price refunds, the money will be refunded to the cards used to pay for the Payments have been made – but you will also charge a separate fee of $ 5.
Sure, you could monitor each and every purchase yourself and submit your own individual claims for price protection. Would you catch every single one? And how much time would that take? Although 25 percent may seem steep, chances are you're still far ahead. Call it unexpected – Cashback-after-the-fact.
Bottom line: Seven rocks. It provides some useful and insightful data about your credit cards, and if you are willing to provide some personal information, you can also save money.
Originally published on February 5, 2018.
Update, September 4: New information added.