Extended Warranties On Credit Cards
Posted June 16th, 2010Learn more about how a credit card can provide you with an Extended Warranty on your purchases
People often see extended warranty coverage marketed as an extra feature on many different credit card offers, but most people do not know what the term means. Extended warranty options on credits cards cover you when a manufacturer’s warranty does not. It is possible to get warranty coverage as a part of your credit card purchase.
CBA Credit Card with Extended Warranty
Free Extended warranty insurance -extension on normal manufacturers warranty for up to 1 year on most goods purchased in Australia or overseas
- $144 ($114 for qualifying customers) annual fee
- 20.74% p.a. on purchases
- 5.99% p.a. for 5 months on balance transfers
- Cash Advance Rate of 21.74% p.a.
- 55 days interest free
Read the Commonwealth Bank Gold Awards Credit Card terms and conditions.
Credit card warranty coverage seems like a confusing option, but we are here to explain to you want an extended warranty is, how long it will last, how the process works, and the types of credit card offers that will come with extended coverage as an option.
What are credit card extended warranties?
A credit warranty covers the problems you may have with a purchase just like a manufacturer’s warranty would. You will be covered if the product breaks, as long as you are still within the time frame of the warranty’s terms. Only instead of the manufacturer paying to replace or repair the product, your credit card would handle the expense. If you also have a manufacturer’s warranty the extended insurance would supplement the coverage you receive from the manufacturer.
How long is extended warranty coverage good for?
The length of the time of your extended warranty coverage will depend on the offer from the credit card company. Different credit card offers will have different time periods of warranty coverage. Your extended coverage supplements your manufacturer’s warranty, so if you have a one year manufacturer warranty and one year of extended warranty coverage, you would have two years of total warranty coverage.
How does the warranty process work?
The specific process or procedure for getting your product replaced or repaired will depend on the specific type of credit card you choose. The offers may vary from company to company. Usually you will need to have the warranty information and your receipt for the product when you file a claim about a product. Your credit card company will typically handle most of the process from there.
Which credit cards offer extended warranties?
Not all credit cards offer extended warranties, so you will have to look carefully at the different credit card offers to see what is a good deal and has the extended warranty feature that you are looking for. Extended warranties are not necessarily an important feature for many customers, so if you have no need for extended warranty coverage, you may want to overlook this feature. But if you would like to receive insurance on a major purchase, an extended warranty credit card can be extremely important.
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