Credit Card Extended Warranties- How Do They Work?
At a Glance
In today’s world, where consumer electronics and appliances play a significant role in our daily lives, protecting our purchases is essential. Manufacturers often offer warranties on their products but are typically limited in duration. That’s where credit card extended warranties come into play. They provide an additional layer of protection for eligible purchases made using specific credit cards. Let’s explore the ins and outs of credit card extended warranties to understand how they work and what they cover.
In this article, you’ll learn:
The average amount covered per claim under a credit card extended warranty. $10,000
What is a credit card extended warranty?
A credit card extended warranty is a benefit offered by certain credit card issuers that extends the warranty coverage on eligible items purchased with the card. It acts as an additional layer of protection beyond the standard manufacturer’s warranty. The extended warranty typically covers mechanical breakdowns and defects, providing peace of mind to cardholders who make qualifying purchases.
How do credit card extended warranties work?
When you make a purchase using a credit card that offers extended warranty coverage, you automatically receive an extended warranty on the item. The extended warranty typically matches the original manufacturer’s warranty length or extends it for a specific period, such as an additional year. This benefit is usually available for items purchased new and paid for in full using a credit card.
What does an extended warranty cover?
Credit card extended warranties generally covers the same issues as the original manufacturer’s warranty. This includes mechanical failures, defects in materials or workmanship, and other problems that prevent the item from functioning correctly. The coverage typically starts after the original manufacturer’s warranty expires, providing continued protection for cardholders.
What do credit card extended warranties exclude?
While credit card extended warranties offer valuable coverage, it’s essential to understand their limitations. They usually exclude certain items from coverage, such as consumables (e.g., batteries), software, items used for commercial purposes, and items purchased from unauthorized sellers. Additionally, wear and tear, and cosmetic and intentional damage are generally not covered. It’s crucial to review the terms and conditions of your specific credit card’s extended warranty benefit to understand the exclusions.
How to use an extended warranty benefit?
If you encounter an issue covered by the extended warranty, you’ll need to follow the process outlined by your credit card issuer. Typically, you’ll need to contact the issuer’s benefits administrator and provide documentation, such as the original receipt, proof of purchase, and a copy of the manufacturer’s warranty. The issuer’s benefits administrator will guide you through the claim process and inform you of any additional steps required.
Credit card extended warranty coverage: How to file a claim
Filing a claim for credit card extended warranty coverage usually involves the following steps:
- Gather documentation: Collect all necessary documents, including the original receipt, proof of purchase, and a copy of the manufacturer’s warranty.
- Contact the benefits administrator: Reach out to your credit card issuer’s benefits administrator. They will guide you through the claim process and provide the necessary forms.
- Submit the claim: Complete the claim form, attach the required documentation, and submit it to the benefits administrator.
- Wait for processing: The benefits administrator will review your claim and may request additional information if needed. Once approved, they will guide you through the next steps.
- Resolution: Depending on the issue, the benefits administrator may offer repair, replacement, or reimbursement for the eligible item.
Few cards that offer extended warranty
Several credit cards offer extended warranty coverage as a cardholder benefit. Here are a few examples:
- Chase Sapphire Reserve
- American Express Platinum Card
- Discover it® Cash Back
- Wells Fargo Visa Signature Card
Remember that the availability and terms of the extended warranty benefit may vary depending on the specific credit card and issuer. Reviewing the details of your credit card’s extended warranty benefit is important to understand the coverage provided.
FAQs
Yes, some credit cards offer extended warranty coverage as a cardholder benefit. However, not all credit cards include this benefit, so it’s essential to review the terms and conditions of your specific credit card. Yes, many credit cards that offer extended warranties cover electronics. However, the coverage may vary depending on the card and issuer. It’s crucial to review the details of your credit card’s extended warranty benefit to determine the coverage for electronics. You’ll typically need to contact your credit card issuer’s benefits administrator to use credit card extended warranty coverage. They will guide you through the claim process and provide the necessary forms and instructions. Credit card extended warranties generally do not cover accidental damage. They typically cover mechanical failures, defects, and other issues outlined in the warranty terms. Accidental damage is usually covered by separate insurance policies, such as accidental damage protection or extended warranty plans offered by retailers.
16 min 
