Randy..im not that familiar on it, im just applying now after seeing other peoples recommendations on it and briefly checking it out myself on their site and talkign with CS, go to:
http://home4.americanexpress.com/blue/learnmore.asp
Read all the fine print!!!!
heres their info on the Lowest Price Guarantee:
"You?re assured the lowest price available on a covered item purchased entirely with an eligible American Express Card in the U.S. If, within 60 days of your purchase, you see the identical item in a printed, dated advertisement at a lower price than you originally paid, American Express will refund the price difference to you, up to $250 per item. Refunds are limited to $1,000 annually per Card account. For more details or to file a request for a refund, call 1-800-557-8317."
basically this is for finding a lower price within 60 days, and has a limit of $250 per item, up to $1000 max payout per year...It "seems" like if you bought 4 items you could get all them pricematched, but of course you'd need to find out for sure from Amex...there is some wording about "eligible" items so i dont know what that means (maybe they exlcude computer parts) but im thinking they are limiting it to products (ex. not auto repair, services, etc)
for the return guarantee:
"Return Protection offers you guaranteed product satisfaction on eligible items purchased in the U.S. entirely with Blue from American Express. When you try to return an eligible item within 90 days from the date of purchase and the store won't take it back, American Express will refund you for the full purchase price, up to $300 per item, up to $1,000 per Cardmember per year. Subject to Program terms and conditions. For more details, or to file a claim, call 1-800-297-8019."
they probably dont pressure the retailer, they just take the item back and probably donate it or something..all you need to do is explain in the return claim how you attempted to return and the retailer's refusal to accept a return ...basically you cant use it to avoid a restocking fee if the retailer does take returns, BUT, if you wait longer (since Amex gives 90 days for returns) clearly the retailer will not honor a return at that time and you'll have enough evidence to get your $$$!! and this is up to $300 per item , $100 per year max
PLUS, theres doubling manufacturers warranties, damage/loss protection (your shipped items are covered!!) , rental car insurance, etc. etc. ITS A REALLY COOL CARD! plus it looks awesome! And they have BlueLoot, which is the free rewards "points" program for $$ spent to earn rewards points...
the signup address is:
http://home1.americanexpress.com/apply/amazon/amazon_splash.asp
and you will get a $10 amazon GC for signing up!!
Sorry for the long post!
Amex rocks!