how's it going today guys so today we're
going to be talking about another one of
my money life hacks and this one is
involving credit cards now I've had a
lot of people asking me to talk about
credit cards on this channel and how to
actually use them responsibly and I'm
going to do that in the future for sure
but in this video I want to talk to you
guys about one of the best benefits that
credit card companies offer you and it's
one that very few people are actually
aware of or taking advantage of now
believe it or not one of the easiest
ways that you can save money is by using
irresponsibly you can rack up thousands
of dollars worth of debt at a twenty
plus percent interest rate and that is a
terrible thing to do so if you're doing
that you are not saving money you are
spending a lot of money on credit card
interest but if you use credit cards
responsibly there are a number of
benefits to having a credit card and one
of them is the price protection so
credit card companies have a pretty
smart business model they offer card
holders benefits to bait them into
racking up debt two of these common
benefits are a cash back percentage as
well as price protection on the items
that you purchase so the idea is they
encourage people to use those credit
cards and then you rack up a bunch of
debt and then you're paying them
interest for years on end but if you
guys are responsible and you pay off
that debt each month and you aren't
paying any interest you can take
advantage of these benefits without
paying any interest now I'm not going to
talk about the cash back in this video
but I will be talking about the price
protection benefit that most credit card
companies offer you so most credit card
companies out there offer what they call
price protection and that's very simple
if you purchase an item and then the
price drops in a certain period of time
even if that store is not willing to
give you a refund or a price match they
will give you that price match instead
and some credit card companies may not
offer this but all the major ones that I
have looked at do offer price protection
so if the price drops on that item in a
certain period of time you get your
refund or you get your rebate as long as
you reach out to that credit card
company and let them know that the price
has dropped so there's a very simple
four-step process when it comes to
taking advantage of this benefit number
one you're going to make a purchase on a
credit card that offers you price
protection
number two you're gonna check on the
price of that item every single day
number three you're gonna find a lower
price and then contact your credit-card
company and let them know that you need
a refund and step number four you're
gonna send them the documentation and
get your refund guys there's a big
problem with this who has the time to do
any of this I don't know about you guys
but I'm a very busy person and the one
thing I don't have time for is checking
the prices of things I've purchased
every single day to hunt for those
refunds so unfortunately this is a
benefit that credit-card companies offer
that very few people are taking
advantage of because of the fact that
nobody has the time to go back and check
on these prices of the items they've
purchased so there's a very cool app out
there that I stumbled upon called Ernie
and they were nice enough to sponsor
this video I reached out to them I told
them about the audience I have here on
YouTube and they said that they would
sponsor my video they've been a sponsor
on my channel once before as well and
what Ernie does is they automate this
whole process for you so when you make a
purchase on your credit card that is
linked to your Ernie account they start
tracking your purchases they start
watching for lower prices and if they do
find a lower price they reach out to
your credit card company on your behalf
provide that documentation and they get
you that refund now they're not doing
this for free so what they do is they
take 25% of all the refunds they get you
now I do understand that some people
might argue that that 25% is a lot but I
want you guys to remember that this is
money that you would never be able to
get on your own because nobody has the
time or the resources to do this for
themselves so without a doubt Ernie is
my favorite app when it comes to saving
money because you can save money and get
refunds in a very passive way you shop
prices drop it happens all the time did
you know many retailers and credit cards
provide price protection and will refund
you the difference when the price drops
but who has time to look for cheaper
prices Ernie does that
sooo after you purchase an item Ernie
constantly searches for better prices
when he finds one he automatically gets
you your money back then rest easy when
you shop Ernie's got your back register
for free at Ernie Co so how much money
are we actually talking about here in
terms of getting refunds from Ernie are
we talking about a couple of pennies
absolutely not in fact the average
refund on Ernie is seven dollars per
item that's seven dollars that's not
just change that's not just a couple of
pennies that's a good amount of money
per item now for those of you that shop
on Amazon you're gonna want to pay
attention to this it's a little known
fact but Amazon actually changes prices
on average eight times per day so eight
times a day they're going through and
changing the prices of items so how do
you know if you bought that Amazon item
at the best possible price I know I got
an email from Ernie where they were
talking about those glasses that people
needed to wear in order to look at the
solar eclipse and they were talking
about how those glasses dropped over 80%
in price and they were able to get that
price match for an Ernie customer in
fact there are many Ernie users that are
getting back over a thousand dollars per
year guys over a thousand dollars just
by using their credit card and using the
Ernie app so if you guys are looking to
take advantage of this credit card
benefit the best way to do this
hands-down is through the Ernie app
anyways guys that's all I got for this
video if you are interested in
downloading that Ernie app make sure you
do will use the link in the description
and if you are somebody who is already
using this app please drop us a comment
below and let us know what kind of
refunds you have been getting but if you
guys enjoyed this video please drop a
like if you are new to my channel please
consider subscribing to be notified of
future uploads and as always I thank you
for taking the time to watch this video
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