Nearly all Mastercard, Visa and American Express credit cards provide the extended warranty benefit. Discover is the only major card network that does not have an extended warranty program, after discontinuing it in February 2018. That doesn’t necessarily mean all Mastercard, Visa, and Amex credit cards have extended warranty benefits, though. A credit card’s benefits are up to the card issuer.… read full answer
Among major credit card issuers, Citi is the only one that has removed extended warranty benefits from nearly all its cards. As of May 8, 2019, extended warranties are no longer available on Citi credit cards except for the Costco Anywhere Visa Credit Card. Another major issuer, Wells Fargo, offers an extended warranty on some but not all of its cards.
Here’s how extended warranty works:
A credit card extended warranty will add at least 1 extra year to an existing U.S. manufacturer’s warranty. It covers eligible items purchased with the card. Extended warranties provide up to $10,000 in coverage per item. In most cases, there’s a $50,000 limit per account. Some of the best extended warranty policies do not set a maximum dollar amount per account.
Not all items qualify for the benefit. Non-covered items vary depending on the card. Most programs will not cover motorized vehicles, computer software, used items and medical equipment.
Here’s how to file a claim:
To file a credit card extended warranty claim, you’ll have to contact the card’s benefit administrator. You will typically need to do so within 90 days of an item breaking, depending on the card. You will then need to file a claim form along with any relevant supporting documentation, such as your credit card statement, store receipt and original warranty. You may also have to send a copy of a repair order, if applicable. Networks and issuers have varying deadlines for submitting the claim form and other documents. Refer to your card’s benefits guide for specifics.
If your credit card originally came with an extended warranty benefit, it may be worth checking with your card issuer to see if the benefit still applies. Citi isn’t the only card issuer to slash extended warranty benefits in recent years. For instance, American Express used to have one of the best credit card extended warranty programs on the market. However, Amex cut its former 2-year extended warranty down to 1 year in 2020, and removed the benefit completely from several no-annual-fee credit cards.
A credit card refund could take anywhere from a few minutes to several weeks, if you’re returning a purchase. But if you’re seeking a refund because you’re disputing a charge on your monthly statement, the process could take up to 150 days. The law dictates that you must notify your credit card’s issuer of the problem within 60 days, and they must resolve it within 90 days of being notified.… read full answer
With store refunds, the time frame depends on the individual merchant’s policy. For instance, refunds for items returned by mail may take longer rather than in-store. That’s especially true if you’re returning something to a merchant in another country. You should also keep in mind that not all stores even offer refunds, while others limit them to defective merchandise.
So the two biggest factors that determine refund turnaround times are the type of refund you’re seeking and store policy. But to make an accurate estimate, it helps to know all the issues in play.
Here’s what decides how long a credit card refund takes:
If you’re disputing a charge, it could take up to 150 days to receive a refund, assuming the credit card company rules in your favor.
Simpler disputes can be resolved faster. For example, if you can produce receipts, it’s easy to establish that you’re telling the truth. That’s one reason to always save them.
You could dispute a charge if a purchase never arrives or comes damaged, for example, or if you’re charged for a larger tip than you left.
If you’re returning a purchase, you could get an immediate refund in-store, while a mailed return takes several weeks. The timetable depends on the merchant’s policies, either way.
The best way to find out exactly how long a credit card refund will take is to contact the merchant or your credit card issuer, depending on whether it’s a return or a dispute. And it’s worth noting that some stores only allow returns for store credit. Luckily, many cards offer return protection. So even if you can’t get a return in store, you might be eligible for reimbursement from the credit card company if your item is new and undamaged. And if you do get a credit card refund, it will show up as a credit on your statement.
Visa extended warranty protection will double the manufacturer’s warranty for an eligible product, adding up to 1 additional year to warranties lasting 3 years or less. The maximum extended warranty coverage amount on Visa Signature and Visa Infinite cards is $10,000 per claim and $50,000 per cardholder. Extended warranty protection is not a standard benefit on “Visa Traditional” cards, but that doesn’t mean it’s never included.… read full answer
Keep in mind that the card issuer determines what benefits come with a given card, so no matter which Visa tier your card belongs to, it’s best to check with the issuer about whether Visa’s extended warranty coverage is included. It’s possible, for example, that one issuer will add this benefit to a Visa Traditional card, while another will remove it from a Visa Infinite card.
Assuming you have an eligible card, the best way to ensure that you can use Visa extended warranty coverage is to register your products when you buy them. To do this, you must call the Benefit Administrator at 1-800-551-8472 if you’re in the U.S. or at 1-303-967-1096 if you’re not. Alternatively, you can register a product via the Visa card benefit services website.
If you don’t register your product when you purchase it, you can still use extended warranty coverage. However, you’ll need to locate the itemized sales receipt, your monthly billing statement reflecting the purchase, and the original warranty.
Visa Extended Warranty Claim Timeline
Notify the Benefit Administrator within 60 days of product failure.
Submit the necessary forms within 90 days of product failure.
If your claim is valid, the Benefit Administrator will decide to replace or repair your item.
In most cases, you will get a reimbursement check approximately one week after the Benefit Administrator receives the required documents.
You’ll be reimbursed for no more than the original purchase price of the item, and you will have to pay any shipping and handling fees for replaced or repaired items. If the Benefit Administrator decides to go the repair route, they will refer you to an authorized repair facility. They can pay the repair facility directly, or you can pay the facility for the repair and file a claim for reimbursement.
Know that there are many eligibility restrictions for Visa extended warranty protection, so refer to the benefits guide that came with your Visa to learn more about the extent of this coverage.
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