Many manufacturers warranty their products against defects or certain other issues for a period of time. This is known as the manufacturer’s limited warranty, and depending on the product, it might provideÂ coverage for a period as short as 30Â days or as long as three or more years. In many cases, by swiping the right piece of plastic at checkout, you can get an automaticÂ credit cardÂ extended warranty.
AnÂ extended warranty is anyÂ coverage that goes beyond what the manufacturer provides automatically when you buy a product. Extended warranties are often available forÂ purchase from third parties.
For example, you mightÂ purchase an appliance at a home-improvement store like Home Depot or a piece of electronics at a big-box store such as Best Buy. When youÂ pay, you might be asked if you want toÂ purchase extraÂ warranty coverage of several years beyond theÂ manufacturer warranty. In some cases, these warranties step in to provide additionalÂ coverage, such as replacing the product if it is damaged or falls victim to typicalÂ wear and tear.
Some credit card accounts come with a special perk. If youÂ purchase a qualifying product with your card, the card network backs yourÂ purchase with anÂ extended warranty coverage. TheÂ extended warranty coverage that comes with some of the best credit cardsÂ usually extends the manufacturer’s warranty for up to a year longer.
The length of anÂ extended warranty offered can vary by card, and the credit card network won’t extend a warranty past a certain time. Typically, if the manufacturer offers more than a five-year limited warranty, no card network adds time to that. Some only add time if the manufacturer’s warranty is three years or less. Others only add to a manufacturer’s warranty that ends within 12 months.
Many major cards, including some on Visa, American Express and MasterCard networks,Â offer warranty protection. The best way to find out ifÂ yourÂ credit card company includes this perk is to read yourÂ benefits guide, which is included in the paperwork that came with your card. You can also usually find this information online if you have an onlineÂ account for the card or you can call the customerÂ service number for yourÂ credit card issuer and ask.
If your card is a Visa Signature card, then this extra perk is included. Simply look for the words Visa Signature on the front of your card. If you don’t see those words, consult yourÂ benefits paperwork or call customerÂ service to get the details about cardÂ benefits.
Yes, some Capital One cards come withÂ extended warranty protection. This is because Capital One cards are typically issued on either the Visa or MasterCard network, and it’s the network that provides theÂ warranty coverage.
Yes, someCostco-branded Visa credit cardsÂ include anÂ extended warranty perk. This is also true for several other branded cards for various stores, hotel chains or airlines.
Credit cardÂ extended warranty programs have some unique guidelines but do tend to follow the same overall concept. YouÂ pay for anÂ eligible item with your credit card. If a covered issue arises after the manufacturer’sÂ warranty coverage is up but before the extended time period covered by the card network, then you canÂ file a claim to be reimbursed for the loss. ToÂ file a claim, you’ll need to call theÂ benefits administrator for yourÂ credit card issuer.
When you make aÂ purchase with your credit card, keep theÂ receipt in case you need toÂ file a claim. Also keep the manufacturer’s warranty,Â receipt, serial number and product description information on hand. You’ll need all of this information when you make the phone call toÂ file a claim.
Make it a habit to start a paper file whenever you spend big on something. That way, you’ll be ready in case you need to use this benefit. But do note that not all purchases are covered by theseÂ rewards. Examples of what’s not covered include boats,Â motorized vehicles, computer software and used or pre-owned items.
TheÂ credit cardÂ extended warranty isn’t the only perk you might get when youÂ pay with your credit card. Some cardsÂ offer buyer’s remorse protection, ensuring you can always returnÂ eligible items within certain windows, or travel and road protections for peace of mind when you find yourself 100 miles or more away from home.
UnderstandingÂ how credit cards workÂ and whatÂ benefits you get from yours lets you get added value when making purchases. Start off right by choosing the best credit cardÂ for your needs and using it wisely as one resource in your personal money management toolbox.
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