You waived the extended warranty plan on your new refrigerator because it would have increased the purchase price of the fridge by almost 20%. Now, as you’re staring at the ice cream melting in the freezer just three months after the manufacturer’s one-year warranty expired, you realize that was a really bad decision.
Well, if you charged the fridge to one of your credit cards, such as American Express, Visa, or certain MasterCard credit cards, you may still be covered. These credit cards feature extended warranty protection, which doubles the time period of the manufacturer’s warranty on products charged to the card, up to one full year. In short, if there’s a three-month warranty on your purchase, the extended protection will cover you for an additional three months; for products with one-year warranty, you’re covered for an additional year. For a three-year warranty, you’re still just covered for one additional year. Coverage is typically capped at $10,000 per item with a maximum of $50,000 per card member per year.
For Visa credit cards, you even have the option to extend the warranty up to five years through the Visa Performance Guarantee, which is a purchased plan that will cover parts and labor costs in case of product failure.
To receive the extended warranty on purchases made with Visa credit cards, it is recommended, although not required, that you register your purchases with Visa. Registration helps keep a clear record of your purchases and simplifies the claims process should you need to make a claim. You can register your purchases online or with a simple toll-free phone call to Visa.
To be eligible for extended warranty, you need to fulfill certain conditions, so keep this in mind when you purchase major new items. Follow these steps for best results:
- Charge the entire purchase to a credit card that offers extended warranty
- Keep the itemized receipt and your original credit card receipt
- Keep a copy of the manufacturer’s repair warranty. Note: Only products from U.S. manufacturers are eligible.
- Don’t cancel your credit card because the card you used must be active to receive the benefit.
Always check with your card issuer to see if you have this extended warranty benefit because coverage varies from credit card to credit card.
Useful Links:
American Express Extended Warranty Program
Visa Credit Cards Warranty Manager Service
9 Credit Card Deals You Never Knew You Had
- Credit Card Deal #1: Purchase Protection
- Credit Card Deal #2: Return Protection and Price Protection
- Credit Card Deal #3: Extended Warranty
- Credit Card Deal #4: Your Personal Office Assistant
- Credit Card Deal #5: Global Traveler’s Assistance
- Credit Card Deal #6: Travel Delay and Lost Luggage Protection
- Credit Card Deal #7: Car Rental Insurance
- Credit Card Deal #8: Worldwide Concierge Services
- Credit Card Deal #9: Free Roadside Assistance
