December 3, 2015
In the afternoon of December 2nd 2015, I signed up for an account at Paribus and started buying some Christmas gifts on Amazon.
The following morning I got an Email from Paribus that they found a $12 price drop on what I just ordered the previous day. They get a small piece of that refund (25%) and that refund percentage lowers as you refer people to the site. Pretty sweet.
Fast forward 6 months to the summer of 2016. I do a lot of shopping on Amazon and Paribus never found any more savings. Very strange, but then Amazon made a major change: Amazon removed their price protection guarantee.
This meant that Paribus had to quickly pivot in the summer months of 2016 from looking for price drops on Amazon and automatically filing price changes on users’ behalf, to looking elsewhere to save money for their users.
Now Paribus needs to ask members for credit card information for Chase, who offers a similar price protection guarantee, and would watch for the same price drops and file price change guarantees with Chase instead. The bonus was that Paribus was no longer locked to Amazon as its sole vendor.
Citi, Capital One and Discover are marked as “coming soon” in February 2017. I closed my Chase credit card account several years ago, which means I haven’t used Paribus since they found me that refund 15 months ago. I’m still a little surprised that they couldn’t find any price changes on anything I bought at Amazon in over 6 months when I generally purchase something a few times every month.
If Paribus ever expands into these other three banks, I’ll consider trying Paribus again.