What Is An Extended Warranty Benefit And Which Cards Have It? – Forbes Advisor

Many credit cards offer extended warranty benefits which can up to double the coverage of a traditional manufacturer’s warranty on qualifying purchases. Using these benefits, however, can be a complicated process—and may require quite a bit of foresight and thoughtful credit card usage. Our guide to extended warranty benefits can help you sort out the details.

What Is an Extended Warranty Benefit?

Many manufacturers offer warranties on new products, which typically offer protection against defects or malfunctions and often expire a year or two after purchase. These warranties may require registering the item soon after purchase and could have other limitations, such as agreement to cover only the cost of parts and not the cost of labor for any repairs.

Some credit cards offer an extended warranty benefit to prolong the warranty on a purchased item past the manufacturer’s warranty end date. For a purchase to qualify, it must be made using the applicable credit card and, if applicable, registered in line with requirements of the manufacturer’s original warranty.

The extended policy begins after the manufacturer’s warranty expires. For example, if you buy a flat screen TV with an original one-year warranty and your card offers an extended warranty benefit for another year, you will be eligible for a total of two years of coverage. Typically, the same limitations put on the original warranty apply to the extended warranty.

How To Use an Extended Warranty Benefit

Certain requirements must be met in order to use an extended warranty benefit. Here are some things you need to do in order for your purchase to qualify for extended coverage:

• Keep your paper or digital receipt. Proof of purchase is likely required.
• Register for the original warranty. If necessary, register your purchase with the manufacturer in order to qualify for the manufacturer’s warranty.
• Contact your credit card issuer. You will usually have to contact the benefits administrator of your credit card within 60 to 90 days of any defect or malfunction discovery. The exact amount of time will depend on the card, but it is up to you to understand your card’s benefits and know who to contact.
• Fill out plenty of paperwork. Your benefits administrator will likely have some hoops to jump through with you. Make sure you fill these requirements and fill out the required forms and documents about the item. This may include your credit card information, the receipt of the item, the monthly statement from your credit card when you made the purchase, the warranty from the manufacturer, a description of the item and the item’s serial number and potentially photos of the item and quotes to repair the item.
• Follow further instructions. Depending on your situation, instructions to collect any benefit may vary. If your item needs repair, a benefits administrator may pay for the repair or may replace the item. If the item is in need of replacement, the administrator may find you a replacement or issue you a payment—it all depends on the terms of your benefits.

Some Cards That Offer Extended Warranty Coverage

• Chase Sapphire Preferred® Card
• Chase Sapphire Reserve®
• Ink Business Preferred® Credit Card
• The Platinum Card® from American Express¹ (Terms apply)
• American Express® Gold Card¹ (Terms apply)
• American Express® Green Card*
• Blue Cash Preferred® Card from American Express¹ (Terms apply)
• Amex EveryDay® Preferred Credit Card*
• Delta SkyMiles® Reserve American Express Card¹ (Terms apply)
• The Business Platinum Card® from American Express¹ (Terms apply)
• Capital One VentureOne Rewards Credit Card
• Capital One Venture Rewards Credit Card
• Capital One Venture X Rewards Credit Card
• Bank of America® Premium Rewards® credit card

Bottom Line

An extended warranty benefit on your credit card could save you money on purchased items that break or malfunction outside of the manufacturer’s warranty. Not every credit card has this benefit, but if yours does, you can benefit from hanging onto receipts and registering your products for their manufacturer warranties so you may later take advantage of the extended warranty benefits offered by the card you make the purchase with.

¹Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.