Do All Amex Cards Offer Extended Warranties
American Express overhauled its benefit programs on January 1, 2020. The result is the addition of trip interruption and cancellation coverage to premium Amex cards, but the removal of extended warranty coverage from Amex consumer cards that charge no annual fee.
American Express scaled back its extended warranty coverage from two years to one and completely removed it from cards with no annual fee.
The three Amex cards we reviewed here, such as the Platinum Card® from American Express, continue to offer the standard extended warranty program. However, the standard program scaled back the additional coverage period from two years to one.
Thus, Amex cards ceded the high ground on extended warranties to Citi cards. If you consider extended warranty benefits especially important, you may want to reconsider getting an Amex card in favor of a Citi card.
This illustrates a larger point: Credit card issuers are forever tinkering with the benefits they offer. With little notice this year, a card like the American Express® Green Card shed benefits, such as returns protection, whereas the Platinum Card® from American Express retained this benefit.
In other words, you need to stay on top of benefit changes, not only by the issuer but also by individual cards. For instance, you should know that, while the Citi PremierSM Card continues to offer an extended warranty, the Citi® Double Cash Card no longer does.
Coverage Can Be Limited To Certain Types Of Purchases
Not everything is covered by a credit cards extended warranty policy.
Youre not getting a manufacturer warranty on consumables like food, so dont expect to receive credit card benefits covering spoilage. Thats not how this works!
Well take a deeper look at the types of purchases that customarily qualify for extended warranty coverage later in the article.
Important Claim Information And Timeframes
- You, the Cardholder, must notify the Benefit Administrator within 90 days of the product’s failure
- The Benefit Administrator will send you a claim form when you report your loss you must submit a completed claim form and supporting documentation within 120 days of the product failure
- Once your claim has been verified, the item will be repaired or replaced at the Benefit Administrator’s discretion
- Only valid and reasonable repairs made at an authorized repair facility are covered
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Chase Sapphire Reserve: Best Premier Travel Credit Card
The Chase Sapphire Reserve® starts you out with 50,000 points when you spend $4,000 on your card within three months of account opening. Youll also earn 10X points on Lyft rides through March 2022, 3X points on travel and dining and 1X points on all other purchases. Premier travel benefits you can qualify for include Priority Pass Select airport lounge membership, a $300 annual travel credit, a credit for Global Entry or TSA Precheck membership and more. Your points are also worth 50 percent more when you book travel through the Chase Ultimate Rewards portal. A $550 annual fee applies, yet youll also qualify for extended warranty coverage good for up to $10,000 provided the item has a manufacturers warranty of three years or less.
Heres How To File A Claim:
To file a credit card extended warranty claim, youll have to contact the cards benefit administrator. You will typically need to do so within 90 days of an item breaking, depending on the card. You will then need to file a claim form along with any relevant supporting documentation, such as your credit card statement, store receipt and original warranty. You may also have to send a copy of a repair order, if applicable. Networks and issuers have varying deadlines for submitting the claim form and other documents. Refer to your cards benefits guide for specifics.
If your credit card originally came with an extended warranty benefit, it may be worth checking with your card issuer to see if the benefit still applies. Citi isnt the only card issuer to slash extended warranty benefits in recent years. For instance, American Express used to have one of the best credit card extended warranty programs on the market. However, Amex cut its former 2-year extended warranty down to 1 year in 2020, and removed the benefit completely from several no-annual-fee credit cards.
So while 3 credit cards could be too many for one person, someone else might be able to comfortably manage 6. The average adult has 4 credit cards, according to a 2020 Experian report.
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What Is Extended Warranty Insurance
Extended warranty insurance simply lengthens the amount of time an item is covered under warranty. Credit cards will typically either double the manufacturerâs warranty or extend the warranty by one year. The lesser of the two will be applied.
Most warranties under five years will automatically be granted extended warranty insurance. However, if the warranty period is more than five years, you may need to register the purchase with the insurance provider.
Some credit cards have a maximum lifetime liability amount. This amount may be for both extended warranty insurance and purchase security insurance. For example, you may receive coverage up to $60,000 per account for both extended warranty and purchase security insurance in your lifetime.
Chase Freedom Flex: Best For Buying Cell Phones
The no-annual fee Chase Freedom Flex is one of the best when it comes to earning cash back and ensuring your purchases are protected. Youll earn 5% cash back, up to $1,500 spent per quarter, on a set of bonus categories that rotate each quarter. Although theres no way of knowing the categories for the entire year ahead of time, previous quarters have included Walmart, Target, wholesale clubs and even Best Buy – all popular places where youll want to make sure your purchase is protected.
Using the Chase Freedom Flex ensures that your purchases are covered for up to $500 per item and for 120 days from the date of purchase. However, keep in mind that items must be purchased directly with the Chase Freedom Flex to be covered by purchase protection. So if you purchase a gift card with the Freedom Flex and then use that gift card to purchase an item, you wont be protected.
Separate from purchase protection, the Chase Freedom Flex also offers cell phone protection. So even after the 120-day time frame, if your phone is damaged or stolen, as long as you pay your monthly bill with the Freedom Flex card, youre covered up to $800 per claim with a $50 deductible. With the cards cell phone protection, youre capped at two claims in a 12-month period, and up to $1,000 per year.
How Do You Know If Your Credit Card Offers An Extended Warranty
To find out whether your credit card has an extended warranty, check your credit cards Guide to Benefits. A physical copy shouldve come with your card when you received it in the mail, but you may be able to access a digital copy or similar information by logging in to the issuers online portal or mobile app, too, depending on the issuer.
If youd prefer to check by phone, you could always call the number on the back of your card to ask .
Curious about a card you dont already have? You may be able find its Guide to Benefits by Googling the card name followed by Guide to Benefits, or by simply exploring the credit card companys website.
Clarks Choice For Extended Warranty Coverage
Clark likes using his Costco Anywhere Visa by Citi to enhance the warranty coverage he gets on big-ticket items at the wholesale retailer.
I love this extended warranty benefit at Costco, Clark says. If youre already a premium member there, you can get four years of coverage on your electronics purchases by using the credit card.
Clark says in recent years his family has used the Costco credit card to make purchases on laptop computers and a washer and dryer set with the extended warranty benefit in mind.
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Checking Out The Claim
Unsure of what to do next, I called Microsofts support line and explained the whole situation to a representative, who redirected me to my nearest Microsoft Store. An employee there seemed certain that I could bring in the Surface and get some kind of official diagnosis.
At the Microsoft Store, I heard a different story. No one was sure how to deal with my request, since repairs arent done in-house. After some waiting around, a store manager took my number and promised to look into it.
A non-damaged Microsoft Surface Pro 3.
Later that day, the manager called back with a potential solution: Hed simply write a letter that explained the screen discoloration and listed the cost for out-of-warranty repairs. He sent the letter by email, and I forwarded it along to Chases benefit provider.
Five days later, another email from Chases benefit provider arrived, saying Id have to call with more information to process your claim. The friendly representative explained that she needed to speak with the Microsoft Store manager to double-check that my repair was necessary. For whatever reason, she was unable to reach the Microsoft Store directly on her phone, which led to a couple days of phone tag as we tried to get the manager to call her.
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Which Credit Cards Come With Extended Warranty Benefits
A wide variety of the best credit cards from major credit card companies offer an extended warranty benefit. This benefit isnt solely found on one type of credit card, though, so you may find it included on some of the best travel credit cards, as well as some of the best cash back credit cards.
If youre interested in cards from a certain credit card issuer, weve included many different options for you to choose from. The extended warranty perk is distinct from card to card, so consider each credit card to see which one might be the right fit for you.
What Is Generally Covered
The first requirement for an item to be covered under your credit cards extended warranty coverage is that the item must have a manufacturers warranty.
Examples of purchased items that might be covered for extended warranty include the following:
- Small appliances
- Cell phones
This is not an all-encompassing list, of course, just a few examples of items that might be covered. Also, keep in mind that manufacturers warranties are not designed to cover the same perils as a normal insurance policy theyre designed more to repair or replace an item that stops working or has a manufacturers defect. The extended warranty on your credit card will also reflect that limited scope of coverage.
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What Can The Extended Warranty Be Used For
Since this type of insurance extends the life of a warranty already in place, extended warranty is generally available on retail and personal purchases. Think of your big-ticket items that already come with warranties in place: electronics, white goods and the like.
Different credit card providers will have different insurance policies in place that dictate what their extended warranties do and do not cover. So, if you were planning on purchasing that washing machine on your credit card to take advantage of the extended warranty, make sure you look up the actual insurance policy and read through the product disclosure statement This will outline what you can and cannot claim, and by how much your warranty will be extended.
The Platinum Card From American Express: Best For The Luxury Traveler
This standout card for cardholders with high credit scores boasts valuable extended warranty perks. It covers up to one additional year on a manufacturers warranty of five years or less, up to $10,000 per covered purchase and up to $50,000 per eligible account per calendar year as long as the account is in good standing.
Though this card comes with a $695 annual fee, frequent travelers have many opportunities to make this back through generous rewards and a bevy of other benefits.
Cardholders earn 5 points per dollar on flights booked directly through airlines or with American Express Travel plus 5 points per dollar for prepaid hotels booked with American Express Travel. Cardholders also earn 1 point on other purchases when they use the card. This card also comes with complimentary Uber VIP status and up to $200 in Uber savings in the U.S. annually, an airline fee credit for up to $200 for airline incidentals, an up-to-$179 credit for Clear membership per year, shopping and travel protections, and concierge services.
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American Express Cobalt Card*
With a high earn rate, a generous welcome bonus and easy-to-use points, the American Express Cobalt Card is our top pick as the best travel credit card for everyday spending.
The points you earn can be redeemed for travel at a rate of 1,000 points for $10 for any flight on any airline with no blackout dates, or they can be used toward the American Express Fixed Points Travel Program, which lets you unlock even better value on round-trip flights. If you prefer to use your rewards for accommodations, you can transfer your points to one of the American Express Hotel partners, including Marriott Bonvoy.
- Annual fee: $155.88
- Earn rate: 5 points per $1 spent on dining out and groceries 2 points per $1 spent on travel 1 point per $1 spent on all other purchases
- Welcome offer: Up to 30,000 bonus points , plus, earn a bonus of 20,000 points when you spend $3,000 in purchases within your first 3 months of having the card
- Income requirement: $12,000
Capital One Venture Rewards Credit Card
Best card for flat-rate earning
After approval, you can earn 60,000 bonus miles after you spend $3,000 on purchases within the first three months of account opening.
In addition to the cards valuable welcome bonus, the Capital One Ventures benefits and perks include 2x Venture miles on all purchases a statement credit for Global Entry or TSA PreCheck , and no foreign transaction fees. The card also comes with Visa Signature benefits, like secondary rental car insurance, travel accident insurance, lost luggage insurance and extended-warranty coverage.
The card will match warranties of less than one year and extend warranties of one to three years by one year. And will cover up to $10,000 per claim and up to $50,000 per cardholder. Benefits only available to accounts approved for the Visa Signature card. Terms apply.
Being able to earn 2 Venture miles on every purchase is pretty great, especially because you dont have to worry about tracking bonus categories everything is simple and straightforward.
The card has a $95 annual fee a smaller annual fee than other cards that reimburse Global Entry or TSA PreCheck application fees, which usually have fees that between $450 and $550. Plus, the welcome offer alone is worth $500 or more if you transfer your Capital One miles to the right travel partners.
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How To Make A Claim
Before you make a claim, be sure to read your credit card cardholders agreement. Sometimes, credit card companies make you register the item you purchased with them within the first year you bought it. If you dont, you might not be able to make a claim.
To make a claim, you have to prove that you bought the item youre making a claim on your credit card. You can do this by providing the original receipt you got when you purchased the item. If you bought any other warranty coverage, you will have to provide proof of that as well as proof of a manufacturers warranty if one exists. Next, you will have to fill out a claims form, which will be provided by your credit card company.
If you want to earn cash back on some of your purchases, check out our review of Rakuten.
For Dining And Transit: Bmo Eclipse Visa Infinite*
While the TD First Class Visa Infinite covered above earns a solid flat reward on your everyday spending, the BMO eclipse Visa Infinite offers a strong boost in particular categories, which are broadly defined, too. Youll earn 5 BMO Rewards points on food and transit spending. That means in these categories youre getting a return of 3.5% per $1 when redeemed for travel . Other categories earn at a rate of 1 point per $1, which is just 0.71% in travel rewards. But theres a unique perk to make up for that: Youll receive an annual lifestyle credit of $50 to spend as you please. Also, travel insurance and new mobile device coverage are included.
- Annual fee: $120
- Welcome offer: Earn up to 60,000 points and a $50 lifestyle credit on the account.
- Earn rate: 5 BMO Rewards points per $1 on food purchases, including groceries, restaurants and delivery, as well as gas and transit purchases including taxis and rideshares 1 point per $1 on everything else Income requirement: $60,000 personal or $100,000 household
- Additional benefits: Travel insurance up to $1,000 in new mobile device coverage Visa Infinite privileges
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