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What is a credit card extended warranty, and how does it work?

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    Quick insights

    • A credit card extended warranty is a benefit that comes with some credit cards.
    • To use this warranty, you will need to provide appropriate documentation to your benefits administrator, such as a copy of your receipt.
    • The length of the extended warranty and the monetary amount that is covered varies depending on your specific credit card and lender.

    You may have heard of warranties on purchases like electronics or household appliances. But did you know that you may be able to extend these warranties with your credit card? Let’s find out more about credit card extended warranties and how they work below.

    What is extended warranty protection on a credit card?

    An extended warranty protection on a credit card essentially allows you to further extend the warranty on an eligible item. Generally, this extension can be an additional year or two, but the terms of this warranty depend on several factors, including your lender, credit card type and the item you’re purchasing.

    Credit card extended warranty protections are mostly used for larger purchases, such as a fridge or new laptop, rather than smaller ticket items.

    How do extended warranties work?

    To get an extended warranty, you will need to make your purchase with the appropriate credit card that comes with this added benefit. You can review your credit card’s Guide to Benefits to see if extended warranty protection is available for your card.

    Make sure you save the appropriate documentation (including your receipt, account statement, copy of the warranty, etc.) Once purchased, you will submit the proper paperwork with your claim. You’ll work with the payment network and warranty managers to try to get your claim approved (more on this later).

    Be sure to review the terms—depending on the card, you may be subject to certain limitations (for example, there may be certain warranty timeframes or you may have to purchase items in a particular country).

    Filing a claim—what do I need?

    To file a claim, you will need to provide the appropriate documentation. These generally include, but are not limited to:

    • A copy of the manufacturer's warranty for your purchase
    • Receipt of your purchase
    • Bank statement

    Make sure you have your documents ready to submit within your card’s specified time frames, which is usually within 60-90 days of the product failure. Check your card’s extended warranty protection terms and conditions if you are unsure.

    Once you’ve collected them, contact your card’s benefits administrator, who will help you with processing the claim. You can usually contact this person via phone or online through your card’s website. You may also want to look at your card for a phone number to call to get you started, such as a customer service line.

    From there, your administrator will guide you through the steps you should take so that you can get the repairs or replacements you need.

    Extended warranty coverage and exclusions

    Extended warranties could apply to a variety of purchases, including these examples:

    • Cellphones
    • Kitchen appliances such as fridge and dishwasher
    • Other items that may already offer a warranty, such as laptops

    Note that not all warranties may be extended depending on your card’s terms. You may find that coverage excludes certain items, such as:

    • Boats, automobiles or aircraft carriers
    • Electronic software
    • Medical equipment

    The amount for the coverage and the timeframe the warranty extends to may vary depending on your card and lender.

    In summary

    When you’re making an expensive purchase, you may want to protect that purchase by extending your warranty. If you’re already investing in a warranty or if your purchase comes with one, you can maximize your protection of this purchase by using a card that offers an extended warranty as part of its benefit. As long as you take the necessary steps and keep in contact with your benefits coordinator, you can utilize a card’s extended warranty and make the most of your recent purchase.

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