Credit Cards That Offer The Best Purchase Protection


BANGALORE: When you purchase large-ticket items such as computers or plasma televisions, your salesperson usually encourages you to spend extra for an extended manufacturer's warranty. Extended warranties give you peace of mind because they cover a product if it breaks down within two to three years of purchase. If you pay by credit card, you may not need to purchase an extended warranty, as many credit card companies offer extended warranty benefits on items purchased using the card.

Let’s have a look at some of the best cards with extended warranties:

1. Discover

The Discover extended warranty program covers repair or replacement up to $10,000. The maximum annual benefit is $50,000. It does not cover any damage that is not covered by the original warranty - so make sure to read the original warranty's fine print. It also doesn't cover repairs that are made at an unauthorized facility, normal wear and tear, shipping costs, and power surge damage. The products excluded from coverage are, items purchased for resale, used or refurbished items, software, perishables, services, plants, cars, and boats.

To file a claim, you must call Discover within 45 days and submit a claim form containing the store receipt, Discover statement, the manufacturer's warranty, and any purchased warranty. If you also send proof that you've repaired or replaced the product in question, they will reimburse you. This extended warranty is free when you use your Discover card.