Originally posted by: Athena
Originally posted by: Skyzoomer
Never knew about credit cards with "extra protection". Any recommendations for one?
I only have two credit cards and they both include an
Extended Warranty benefit that extends the manufacturer's warranty for up to 1 year.
The programs are all pretty much the same: The extended warranty begins when the manufacturer's warranty expires. If you purchase warranty coverage with the item, the credit card coverage is added on after that. The item must be new (not refurbished), must have been charged entirely on the card (i.e. no splitting) and there are limits to both the amount of the item and the number of claims you can make in a year.
Check all the marketing materials for your card to see if it's included or just call them up and ask. The programs are administered by insurance companies that contract with the credit card companies. For low dollar amounts, they usually just send a refund checks but if it's an expensive item, they will pay for factory authorized repair equivalent to whatever was included in the manufacturer's warranty.
My cards also have "Purchase Protection" benefits that cover accidental damage in the first 90 days. Credit card companies offer these things because they know that most people will never file claims. That's why I have taken to attaching the terms to the receipts of large ticket items -- or at least writing a reminder on the receipt for smaller items.
Athena