The Chase Sapphire Reserve extended warranty benefit works by giving you an extra year of coverage if you buy something with a warranty of 3 years or less. This benefit protects most Chase Sapphire Reserve purchases against damage or malfunction up to $10,000 per claim and $50,000 per account. But there are some notable exclusions, such as motorized vehicles and computer software. And while registering your purchases is encouraged, it's not necessary to benefit from the warranty. In any case, you will need to file a claim if a covered event happens.
That’s the gist, but there’s a fair amount of fine print, too. So it’s important to go over the policy in detail. Let’s get to it.
Here’s how the Chase Sapphire Reserve extended warranty works:
Overview: Extends eligible warranties of 3 years or less by one year if the items are purchases with the Chase Sapphire Reserve or rewards earned with the Chase Sapphire Reserve.
How much is covered: The warranty provides repairs or replacements of eligible items for no more than the original purchase price recorded on the credit card receipt (excluding shipping and handling fees), up to to $10,000 per claim and $50,000 per account.
Who is covered: The extended warranty covers the cardholder and recipients of gifts purchased by the cardholder with the Chase Sapphire Reserve.
What is covered: Eligible items with a valid manufacturer-written U.S. repair warranty of 3 years or less; eligible gifts purchased with the Chase Sapphire Reserve; eligible items purchased outside the U.S. as long as they are purchased with your card and have a manufacturer-written U.S. repair warranty of 3 years or less, an assembler warranty, or a store-purchased dealer warranty. While you don’t have to register your purchases, registration is encouraged to help you take full advantage of the warranty and navigate the process seamlessly.
What is not covered: Excluded items include motorized vehicles, used items, computer software and items purchased for resale, among others. Be sure to look at your benefits guide for the full list.
How to claim: You can file a Chase Sapphire Reserve extended warranty claim by notifying your Benefit Administrator at (800) 874-7702 within 90 days of the covered item failing. After reporting the product’s failure, the Benefit Administrator will send you a claim form in the mail. You must submit the completed claim form and documentation withing 120 days of the item’s failure. Alternatively, you can file a claim directly through the Card Benefit Services website also within the same 120-day window.
Once the Chase Sapphire Reserve extended warranty claim is verified, the item will be repaired or replaced at the Benefit Administrator’s discretion. You may also go to an authorized repair facility and file a claim for reimbursement of repair costs for eligible items.
You can get a Chase credit limit increase by requesting it over the phone, by calling (800) 432-3117. You cannot request a credit limit increase from Chase online right now, but this option has been available in the past. When you call, you simply have to provide some information about your income, debts, other open credit accounts, and anything else Chase happens to ask for more information on. Chase may either approve you immediately or notify you of its decision within a few weeks (via mail and/or email). If you’re approved for a higher limit, the change will take effect right away and should show up on your next statement.… read full answer
To qualify for a Chase credit limit increase, you generally need to pay your bill on time for at least six consecutive months and otherwise manage your finances responsibly. You should also strive to use only a small portion – 30% or less – of your current credit limit. Making sure your income is up to date on your Chase.com account could help, too.
Here’s how to get a Chase credit limit increase:
By Phone: Call Chase customer service at (800) 432-3117. Enter the last four digits of your card number, followed by your zip code. Press “0” to speak with a customer service representative.
Automatic Increase: Chase may offer you a higher limit if you use your account responsibly. To check, sign into your Chase.com account, click on the menu icon at the top left of the page, and select “Your offers.”
Online: Chase currently does not allow you to request a higher credit limit online. In the past, you could log into your account on Chase’s credit limit increase page, fill out the form and get an instant decision.
Just so you know, requesting a Chase credit line increase will result in a hard inquiry on your credit report. That means it could lead to a slight, temporary dip in your credit score. But that shouldn’t really matter unless you’re planning to apply for a mortgage or car loan in the next few months.
It’s also worth noting that if you don’t get the decision you’re looking for, you can always apply for a new credit card from a different issuer. The issuer’s desire for new business could lead it to be more generous than Chase.
Chase Sapphire Reserve is worth its $550 annual fee for frequent travelers who can spend at least $4,000 in the first 3 months and qualify for the card’s initial bonus of 60,000 points. Travelers will also get a lot of value out of Chase Sapphire Reserve because it comes with a $300 annual travel credit and good ongoing rewards.… read full answer
Key Things That Make Chase Sapphire Reserve Worth It
You earn 1 - 10 points / $1 spent on purchases, including 10 points / $1 spent on select travel expenses.
You’ll have an opportunity to earn an initial bonus of 60,000 bonus points for spending $4,000 in the first 3 months.
Chase Ultimate Rewards Reserved points are worth 50% more than usual when you redeem them for travel through Chase Ultimate Rewards Reserved.
There are several types of travel insurance, including a $1 million benefit for serious injury or death.
You get a Priority Pass Select airport lounge membership that would usually cost $429 a year.
You’ll receive a $300 travel credit each account anniversary year.
Tips for Getting the Most Out of Chase Sapphire Reserve
Chase Sapphire Reserve’s attractive features are only worth it if you travel frequently and have the excellent credit needed to get approved. You’ll also need to earn enough rewards – or utilize enough of the card’s other perks – to make it worth owning.
For example, if you make the most of the Priority Pass membership ($429 annual value), along with the $300 annual travel credit, you’d recoup the entire annual fee. That shouldn’t be hard for frequent travelers to do every year. And the more benefits you take advantage of, the less you need to spend to break even.
Finally, in order for Chase Sapphire Reserve to be worth it, it’s important to pay the bill in full each month. Otherwise, you’ll end up paying a 17.74% - 24.74% (V) interest rate on the unpaid balance, which will decrease the overall value of the card’s perks and rewards.
More moderate spenders looking for a travel rewards card without the huge annual fee should check out our editors’ picks for the best travel rewards credit cards to help narrow the search.
The Chase Sapphire Reserve purchase protection covers you for up to $10,000 per item if something you buy with your Chase Sapphire Reserve card gets lost, stolen or damaged within 120 days of purchase. Chase will repair the item, order you a new one or give you a refund, whichever is cheaper. The annual coverage limit is $50,000.… read full answer
There are several restrictions on what kinds of items are covered. For example, antiques, motorized vehicles, and living plants and animals are not eligible. Plus, to get reimbursed, you need to mail in a completed claim form within 120 days of a loss. It’s always good to read the fine print, and Chase Sapphire Reserve purchase protection is no exception. I’ll walk you through the important details below.
Here’s what you get from Chase Sapphire Reserve purchase protection:
You are covered for theft, damage, and accidental parting. Accidental parting means you know where the item is, but you can’t get it back.
To be covered, an item must have been paid for, at least in part, with your Chase Sapphire Reserve card or Chase Ultimate Rewards points.
Gifts you buy for others qualify for coverage, so long as you charge them to your Chase Sapphire Reserve card (or use points) and the item is otherwise eligible.
Chase offers purchase protection in addition to any insurance you have. That means you’ll need to file an insurance claim if possible, and submit documentation of the claim and any compensation you received to the Benefit Administrator.
Items that you buy to resell are not covered. Neither are purchases damaged or lost in delivery. Other items that don’t qualify for coverage include animals, living plants, antiques, collectibles, motorized vehicles, computer software, cosmetics, checks, medical equipment, used goods, and pre-paid cards.
If you’re making a claim for a damaged purchase, you will usually need to keep the item to send it in.
Here’s how to file a Chase Sapphire Reserve purchase protection claim:
Contact the Benefit Administrator at (888) 675-1461 within 90 days of the loss.
The Administrator will send you a claim form, which you need to fill out and return within 120 days of the loss.
If Chase decides to repair your item, you will be notified of the decision within 15 business days of sending in documentation. You’ll then need to send the item to the Benefit Administrator, and pay for the shipping yourself.
If you’re getting reimbursed, the credit should show up in your account within 5 business days of getting all your paperwork in.
Chase Sapphire Reserve purchase protection gives you some extra peace of mind and, maybe, some extra cash. Just make sure you save your receipts, and pay attention to the claim deadlines.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.