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Avoid Wasting Money on Extended Warranties Just by Paying With These Credit Cards!

Avoid Wasting Money on Extended Warranties Just by Paying With These Credit Cards!

Million Mile SecretsAvoid Wasting Money on Extended Warranties Just by Paying With These Credit Cards!Million Mile Secrets Team

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Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.

With the holiday season here, you may be buying big-ticket items like computers, gaming systems, furniture, and home appliances.

But before making an expensive purchase, it’s important to consider which card you’ll use to pay.  These are the best credit cards for large purchases:

Card Name Benefits
The Business Platinum® Card from American Express OPEN
Earn 1.5X AMEX Membership Rewards points for purchases of $5,000+

Up to 1 extra year added to warranties of 5 years or less (terms & conditions apply)
The Platinum Card® from American Express
InkBusinessPreferred
Up to 1 extra year added to warranties of 5 years or less (terms & conditions apply)
Citi ThankYou Premier
Card Image Not Available
Citi Price Rewind coverage, which refunds you money when prices go down on certain items

Up to 2 years added to warranties (not to exceed 84 months from date of purchase).
Chase Sapphire Preferred® Card


Earn my favorite flexible points

Up to 1 extra year added to warranties of 3 years or less (terms & conditions apply)

With certain cards, you’ll earn bonus points just for making a large purchase.  And others come with useful purchase protection benefits, which can automatically get you an extended warranty.  You might even get a refund after a price drop.

Best Credit Card Purchase Protection 2017
Shopping for a New Refrigerator? I’d Use a Card That Offers Automatic Extended Warranty Coverage to Avoid Headaches Down the Road!

If you’re planning a large purchase and don’t have one of these cards, it’s a great time to apply.  Because you can unlock a valuable new cardmember sign-up bonus (worth hundreds of dollars in free travel) by counting the large purchase toward your minimum spending requirements.

I’ll explain more about the current card offers and details of the purchase protection benefits.

Best Credit Card Purchase Protection 2017

You don’t have to pay a dime to get extended warranty coverage or other purchase protection benefits when you use credit cards.

Keep in mind, the benefits you get vary by card.  And there are exclusions.  For example, credit card warranty benefits won’t apply if you’re purchasing a shiny new convertible this holiday season. 😉

Prior to buying a big-ticket item, I recommend reading the terms & conditions of your card’s coverage.  This will give you an idea if your purchase is covered.  And it’ll let you know which paperwork to keep.  This typically includes:

  • Original purchase receipt
  • Credit card statement showing purchase transaction
  • Copy of manufacturer’s warranty
Best Credit Card Purchase Protection 2017
Reading the Fine Print of Your Card’s Benefits Before Making a Large Purchase Can Be Worth the Time!

Also, if you have multiple credit cards, it’s a good idea to compare benefits between cards.  For example, I recently wrote about 3 cards to protect your smartphone purchase in case it’s lost, stolen, or damaged.  But when it comes to shopping for large appliances or furniture, securing extended warranty coverage with one card might be more useful than theft and damage protection with another card.

Here are 4 great cards with purchase protection benefits.

1.   AMEX Business Platinum

Link:   The Business Platinum® Card from American Express OPEN

Link:   My Review of the American Express Business Platinum Card

If you’re planning to spend $5,000 or more on a single purchase, the AMEX Business Platinum is an excellent choice!  With this card, you earn 1.5X AMEX Membership Rewards points on purchases of $5,000+.

And earning flexible points with AMEX can be extremely valuable if you like to travel.  Because you can save money on flights and hotels by transferring AMEX Membership Rewards points directly to 20 airlines or hotel partners, like Air Canada, Delta, or Hilton.

Plus, when you pay for eligible items using your card, you’ll get up to 1 year added to the original manufacturer’s warranty.  This benefit applies to warranties of 5 years of less.  And you’re covered up to the amount charged to your card for the item (up to a maximum of $10,000 per item and $50,000 per calendar year).

Best Credit Card Purchase Protection 2017
Purchase a Flat Screen Television With the AMEX Business Platinum and You Could Get Up to 6 Years of Warranty Coverage!

Making a large purchase can also put a nice dent in the large minimum spending requirement for this card.  You’ll earn 50,000 AMEX Membership Rewards points after you spend $10,000 in the first 3 months of account opening.  And an extra 25,000 AMEX Membership Rewards points after you spend an additional $10,000 on qualifying purchases within the same timeframe.

With the AMEX Business Platinum, you also get:

This card has a $450 annual fee.  But if you apply now, it’s possible to earn the $200 airline incidental statement credit 2 times (once in 2017 and again in 2018) by paying just 1 annual fee.  You can evaluate the card after ~10 or ~11 months to see if the other perks make it worth keeping.

2.   AMEX Platinum

Link:   My Review of the AMEX Platinum

If you can’t qualify for the AMEX Business Platinum card, you can use the personal version to get the same extended warranty coverage.

You’ll get up to 1 year added to the original manufacturer’s warranty for warranties of 5 years of less.  You’re covered up to the amount charged to your card for the item (up to a maximum of $10,000 per item and $50,000 per calendar year).

I have friends who exclusively use their AMEX Platinum card to buy expensive electronics.  Because the extra coverage comes in handy should a product stop working after the manufacturer’s warranty expires.

Unfortunately, you will NOT earn a bonus on large purchases using this card.  But you’ll still earn the same flexible AMEX Membership Rewards points.

Best Credit Card Purchase Protection 2017
Travel to Paris Like Emily and Her Mom Did by Redeeming Valuable AMEX Membership Rewards Points!

And it’s much easier to unlock the sign-up bonus on this card because the minimum spending requirement is much lower compared to the business version.  You’ll earn 60,000 AMEX Membership Rewards points after spending $5,000 on purchases in the first 3 months of opening your account.

This card also comes with:

3.   Citi ThankYou Premier

Link:   Citi ThankYou Premier

Link:   Save Money Using Citi Price Rewind to Track Your Purchases

With the Citi ThankYou Premier card (and other Citi personal credit cards), you get access to Citi’s Price Rewind program, which is an amazing perk!

When you pay for an eligible item with your card, you can get a refund if the price drops within 60 days.  These are some of the items covered by this benefit:

  • Appliances
  • Clothing
  • Electronics
  • Furniture
  • Toys
Best Credit Card Purchase Protection 2017
Shop Before the Holidays and Get a Refund for Any Price Drops Afterwards by Using Citi’s Price Rewind Program!

The program is limited to $500 per item and $2,500 per calendar year.  You can read my step-by-step guide to using Citi Price Rewind.

Million Mile Secrets team member Jasmin got back $20 from the filing cabinet she bought this summer.  Every little bit counts!

You also get excellent extended warranty coverage when you shop with the Citi ThankYou Premier.  You’ll get up to 2 years added to the original manufacturer’s warranty (not to exceed 84 months total).  You’re covered up to the amount charged to your card for the item (up to a maximum of $10,000 per item and $50,000 per calendar year).

Although the card is not currently offering a sign-up bonus, you can still earn:

  • 3X Citi ThankYou points per $1 spent on travel (including gas stations, airfare, hotels, cruises, car rental agencies, travel agencies, railways, public transportation, tolls, taxis, parking, and more)
  • 2X Citi ThankYou points per $1 spent on dining and entertainment (amusement parks, museums, sporting events, movies, and more)
  • No foreign transaction fees

And the $95 annual fee is waived the first year!

In the past, we’ve seen this card’s sign-up bonus as high as 50,000 Citi ThankYou points.  So I’d wait for the card to offer a sign-up bonus again before applying.

4.   Chase Sapphire Preferred

Link:   Chase Sapphire Preferred

Link:   My Review of the Chase Sapphire Preferred

The Chase Sapphire Preferred earns my favorite, flexible, Chase Ultimate Rewards points.  And it’s the top card I recommend for beginners.

When you shop with this card, you’ll get 1 extra year added to a warranty of 3 years or less.  Similar to AMEX and Citi, you’ll get a refund up to the amount charged to your card, up to a maximum of $10,000 per item, and no more than $50,000 per calendar year.

Plus, when you sign-up for this card, you can earn a sign-up bonus worth $625 in travel!  You’ll earn 50,000 Chase Ultimate Rewards points after spending $4,000 on purchases in the first 3 months of opening your account.

You’ll also enjoy these benefits:

And the $95 annual fee is waived the first year.  So you can test the card out for nearly a year without paying anything.  Then, decide if you like the benefits enough to pay the annual fee.

Bottom Line

If you’re shopping for big-ticket items this holiday season (like electronics or equipment), I recommend paying with a card that offers purchase protection benefits.

For example, when you pay for eligible items with the AMEX Platinum card, you get 1 year added to the original manufacturer’s warranty for warranties of 5 years of less.  So if you buy a television with a 2 year warranty, you’ll get 3 years of warranty just by paying with the AMEX Platinum card.

Or you might consider the Citi ThankYou Premier card, which adds 2 years of warranty protection (up to a maximum of 84 months).  And it also gets you access to Citi’s Price Rewind program, which can refund you if the price drops on certain products!

Be sure to read the terms & conditions of your card’s coverage.  This way, you can check for exclusions and confirm how long you have to file a claim.

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The Platinum Card® from American Express

The Platinum Card® from American Express

  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Up to $200 for Uber rides annually. Credit and Uber VIP status available to Basic Card Member only.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards® points on eligible hotels booked on amextravel.com.
  • As a Platinum Card Member, you can enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Terms Apply | Rates & Fees

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Hi,

What about if I get my item stolen abroad, would purchase protection work?
I’ve been checking in all guides for my credit cards and could find this information anywhere. I am about to go on vacations and I’m wondering if I should just leave my camera home. I read that items bought in the US or abroad are covered but nothing on where the theft has to take place… I wish credit cards companies were less vague in their rules.

What do you think?

I have a chase sapphire preffered and a bank of america travel rewards card but can’t find anything in the benefits guides…

Do you have to keep the cards through the extended warranty period to be able to have that item covered?

Million Mile Secrets

Great question! You typically must be an active cardholder in order to make use of any card benefits. That said, I’ve read a few data points of AMEX cardholders who purchased an item, later downgraded to a different card, and were still able to make use of purchase protection benefits.

What about the AMEX Gold cards, do they extend warranties for products?

Million Mile Secrets

Yes, these cards will get you extended warranty coverage too! You can check the specifics of the coverage that comes with your card here: https://www.americanexpress.com/us/credit-cards/features-benefits/policies/extended-warranty-terms.html