CES 2008 is now over and the smell of new models is in the air... Should be anytime now... Everyone is just waiting for the day to jump to make their new purchase but do you know what your credit card offers you in extended warranties or purchase protection plans? These are some hefty purchases, here is some information that might be of some value to you....
I have been in contact with all of the major credit card companies to ascertain what types of buyer protection programs or extended warranty benefits (I was only looking for EW plans) they offered to the card holder after making a purchase, such as a TV. Here is a summary of what I found:DISCOVER CARD
-does not offer any extended warranties or protection plans.AMERICAN EXPRESS
- calls their service the "Buyers Assurance Program."
AMEX will double the warranty of your purchase up to one year. They also have the added benefit that if you should purchase an EW from a store, they will duplicate the manufacturers warranty up to one year beyond the expiration of the EW up until the purchase is 5 years old.https://www124.americanexpress.com/c...&type=intFAQ#3VISA
- calls their service the "Warranty Manager Service," they are responsible for:
1. Registering your purchases. If you send your receipt, VISA receipt and copy of the original warranty, they will file the information in their system if you should ever need it or lose the originals.
2. They will double the extended warranty up to one year on purchases for free on eligible products with an original warranty less than 3 years. There are exclusions.
3. If you purchase an EW from a store, VISA will only be a secondary insurance of the EW. Once the EW expires, or the additional benefit year is up, you have no benefits.
4. Purchase an EW contract directly through VISA based on the cost of item.
In order to ensure that you qualify for any part of the Warranty Manager Service, you need to call VISA at 1-800-551-8472
and ask them. They will ask for your card number and will give you the benefits that are associated with your card. Any benefits you receive or don't receive is at the discretion of the issuing card provider. Remember, you are not talking to Wells Fargo, Chase, or Citibank, this is VISA. Nothing is guaranteed, so CALL!
Here is another advantage to use your VISA card, especially if you are going to rent a car. You know that added insurance coverage that the agents will always try to push on the public for like $15-20 a day in case of accidental damage to the car, well VISA offers the coverage for FREE!!! Yes, FREE!!! I could have used my own advice as I just paid out 2 days of rental insurance for nothing, VISA had it covered. There are some restrictions relating to how long you can have the rental car and that you can't use it for luxury cars like Porsche, etc. All they do is tell you to decline the additional insurance and if anything happens to contact them immediately, they will take care of the rest, even towing charges....
Here are some links that are associated with their products, they will go into more detail about the programs and your cards benefits:Visa Checking
- http://usa.visa.com/personal/cards/b...ebit_cards.gifVisa Signature Credit Card
- http://usa.visa.com/download/persona...aSignature.pdfhttp://usa.visa.com/personal/cards/b...earchQuicklinkVisa Signature Business Credit Card
- http://usa.visa.com/business/cards/benefits/index.htmlhttp://usa.visa.com/business/cards/b..._security.htmlWarranty Managers Service link
- (This will explain the service, and give the costs of the EW they offer)http://usa.visa.com/personal/cards/c...ager%20ServiceMasterCard-
very similar to VISA. I found the link to their site but it doesn't provide that much information. It does give the benefits for a Gold or Platinum Mastercard. MasterCard does have an EW program but I couldn't find any printed details and varies depending on the issuing card provider. Contact 1-800-MC-ASSIST (1-800-622-7747)
to check to see if you are eligible for any of the benefits. Again, your benefits vary depending on who is your card provider as well as other criteria. MasterCard actually said you had to have at least a $2000 credit limit to be eligible. Call!
MasterCards EW benefits are a little different than above. MasterCard EW works similar to AMEX, after the original warranty up to one year. The difference is that you are limited to being able only to purchase a one year extended warranty from a store, then they will cover up to the third year. But be careful, if you want MasterCard's EW service, the original manufacturers warranty cannot exceed one year, if it does, MasterCard will not offer an EW at all, you'll get zip.MasterCard
Again, this is the information I received when looking at their sites and contacting them by phone, please contact your card company if you have any questions or you need further information. EW are not the only benefit that comes with our cards, there are several others. These cards have many more benefits than we all realize, so why don't they just come outright and put it right in front of us to understand. So spend some time with the links I gave above, you will be amazed at what they offer.
So, are you aware of what you cards offer you???
Hoped this helped.