A lot of credit cards offer free extended warranty coverage for all purchases made with the card. An extended warranty policy basically extends the manufacturer’s warranty, and so it only applies to items that already have a warranty of some sort.
Some cardholders aren’t even aware that their card carries extended warranty benefits. To find out whether a card offers this coverage, call the number on the card’s back and inquire about the account’s purchase protection terms.
Types of Extended Warranty Programs
Extended warranty coverage does vary, depending on the credit card issuer, which is why it’s important to understand the specific terms of each card. For example, some credit cards will extend any manufacturer’s warranty that lasts for less than 5 years, while others will only extend warranties that last for 3 years or less, or even 1 year or less. Some credit cards will extend the warranty by twelve months, others by six months, so it’s imperative to understand the coverage provided before selecting a card based on this benefit.
Utilizing the Extended Warranty
To take advantage of a credit card’s extended warranty coverage, it’s best to keep accurate records of purchases, and file or otherwise store the receipts of items that qualify. Most credit card companies will extend the warranty more easily if adequate proof of purchase and documentation is provided.
Before sending in a claim to extend a warranty, some experts recommend obtaining a written estimate from the original manufacture for the cost of repair. In some cases, if the cost of repair is greater than the cost of replacing the item, the card company may simply buy a new one instead of extending the manufacturer’s warranty.
The Process of Extending a Warranty
Extended warranty claims can be filed via phone, email, or fax. However, it’s best to start by calling the customer service department to learn the preferred course of action before proceeding.
It usually takes about 1 to 4 weeks to process an extended warranty claim, depending on the credit card company and the volume of claims the customer service department is dealing with at the time. If the claim is honored, the credit card company will either credit the card for the cost of repairs, or send a check.
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Tags: Coverage, Extended Warranty, Extended Warranty Coverage, Warranty Coverage
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