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American Express Card Benefits
Other Credit Card Benefits
Available American Express Cards
APR: 13.24% - 21.49% (var)*
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When shopping for electronics, we all hope to get a nice long warranty. Manufacturer's warranties usually max out at a few years, and more commonly are only for a year or less. Merchants are aware of our fear of these expensive items breaking and are willing to offer extended warranties for a very high price.
Many people feel obligated to purchase the extended warranty offered by the retailer. But, lots of people become frustrated by how much they charge. We may feel like we need that warranty and have no other choice than to buy theirs. With American Express card, this is no longer the case.
Free Extended Warranty
American Express offers an extended warranty that in some cases can double the manufacturer's warranty. This benefit comes free with your credit card. It can give you up to an additional year of warranty on designated products. If the manufacturer is giving you less than a year for a warranty, American Express will make it double, by matching the warranty you're already getting. For manufacturer's warranties of 5 years or less, you can get an additional year with the AMEX extended warranty.
If your item breaks during your extended warranty period, American Express will cover it. They will only cover the amount you charged on your card, though, so it's a good idea to put the entire purchase on your AMEX card. You can always pay the card down or off at the end of the month if you prefer. They do also have a cap for coverage. So, for example, if you charged a $12,000 product on your credit card, you will only be able to get back $10,000. Every account has an annual maximum as well. As with most benefits, it is subject to approval by their underwriting department at the time of your claim.
Why You Need It?
Imagine for a moment that you had a 6 month warranty on your computer monitor. At 9 months, you notice the color is fading, or some other issues have started to arise with it. Without the extended warranty, you'd be out of luck. Nobody would cover your purchase, and it would be up to you to have it repaired or replaced. But, with an extended warranty, you could get your money back from American Express to replace that monitor.
The same applies for a new refrigerator, or television set. It is true for any item that would typically have a manufacturer's warranty on it. Certain rules and regulations apply, so it's important to read the terms and conditions carefully when you get your credit card. But, all in all, the coverage is a very good deal, considering you aren't paying anything extra for it.
Conclusion
In conclusion, having an Extended Warranty can be very important. It may not be something you think about until you actually need one. Nobody likes to pay the retailer's prices for their warranties. American Express offers an extended warranty that can give you up to an additional year of coverage for free.
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express®.
