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

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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

We devote thousands of hours of research to help you get Big Travel with Small Money. You support us by signing-up for credit cards through partner links which earn us a commission. Here’s our full Advertising Policy.

With the school season upon us, and the holidays on the horizon, 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.

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 welcome 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 2018

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. 😉

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

Also, if you have multiple credit cards, it’s a good idea to compare benefits between cards.  For example, we wrote about the best cards to protect your smartphone purchase in case it’s lost, stolen, or damaged.  But when it comes to shopping for large purchases like electronics, 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

Apply Here:   The Business Platinum® Card from American Express OPEN

Our Review:   Big Spenders Can Crush It With the AMEX Business Platinum Offer

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 Delta or Hilton.

Plus, when you pay for eligible items using your card, AMEX will match the length of the manufacturer warranty, as long as it’s less than 2 years.  If the manufacturer warranty is between 2 and 5 years, AMEX will increase the warranty by 2 years.

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 Extended Warranty Coverage!

Making a large purchase can also put a nice dent in the large minimum spending requirement for this card.  You’ll earn up to 75,000 Membership Rewards points:

  • 50,000 Membership Rewards points after spending $10,000
  • 25,000 more Membership Rewards points after spending an additional $10,000 on qualifying purchases within the first 3 months

You’ll also get:

This card has a $450 annual fee.

2.   Citi AAdvantage Platinum Select

Apply Here:   Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®

Our Review:   Even If You NEVER Fly American Airlines, You Might Consider This 50,000-Mile Card Bonus!

When you pay for electronics with the Citi AAdvantage Platinum Select, it’s possible to extend the manufacturer’s warranty by an additional 24 months (total coverage between both the manufacturer’s warranty and extended warranty cannot exceed 84 months).  That’s better than a LOT of other cards.

Coverage is limited to the lesser of the following:

  • The cost to repair or replace the item
  • The purchase price of the item
  • The amount charged to the Citi Card (including ThankYou Points)
  • $10,000 per item

This card comes with 50,000 American Airlines miles after spending $2,500 in purchases within the first 3 months of opening your account.  You’ll also earn:

  • 2X American Airlines miles per $1 spent on American Airlines flights
  • 2X American Airlines miles per $1 spent at gas stations and restaurants
  • 1X American Airlines mile per $1 spent on other purchases

The card has a $99 annual fee, waived the first year.

3.   Citi ThankYou Premier

Link:   Citi ThankYou® Premier Card

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

The Citi ThankYou Premier has the same extended warranty benefit as the Citi AAdvantage Platinum Select.  You can extend the manufacturer’s warranty by an additional 24 months (total coverage between both the manufacturer’s warranty and extended warranty cannot exceed 84 months).

Coverage is limited to the lesser of the following:

  • The cost to repair or replace the item
  • The purchase price of the item
  • The amount charged to the Citi Card (including ThankYou Points)
  • $10,000 per item
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!

Plus, when you pay for registered items at certain online stores, Citi will automatically check for a lower price at other merchants for 60 days.  If they find a lower price within 60 days, you may receive a credit for the price difference!  Million Mile Secrets team member Jasmin got back $20 from the filing cabinet she bought last summer.  Every little bit counts!

The card currently comes with 60,000 bonus ThankYou points after spending $4,000 in the first 3 months of account opening.  You’ll also earn:

  • 3 Citi ThankYou points per $1 spent on travel including gas stations (also including airfare, hotels, car rental agencies, parking, tolls, and much more)
  • 2 Citi ThankYou points per $1 spent at restaurants and on select entertainment (like amusement parks, museums, sporting events, movies, and more)
  • 1 Citi ThankYou point per $1 spent on all other purchases
  • NO foreign transaction fees

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

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 we recommend for beginners.

When you shop with this card, you’ll get 1 extra year added to a warranty of 3 years or less.  You’ll be covered for 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 open this card, you can earn a welcome bonus worth at least $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:

  • 2X Chase Ultimate Rewards points on travel and dining at restaurants
  • Ability to transfer points directly to Chase’s travel partners like Hyatt and United Airlines
  • Primary car rental insurance – Covers damage or theft to your rental car, when you pay for the rental with your card
  • NO foreign transaction fees

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

Bottom Line

If you’re shopping for big-ticket items like electronics, I recommend paying with a card that offers purchase protection benefits.

For example, when you pay for eligible items with the AMEX Business Platinum card, you can get up to 2 years added to the original manufacturer’s warranty.  So if you buy a television with a 5 year warranty, you’ll get 7 years of warranty just by paying with the AMEX Business Platinum card.

Or you might consider the Citi ThankYou Premier card, which also 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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    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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    Thank you very much for this deals. It gives you a very good experience to see the best credit card purchase protection. Visit here, http://www.bbrservices.in

    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