There’s nothing better than collecting miles for big purchase items. You can often collect 2x more miles when purchasing items through your credit card’s shopping portal (sometimes it can be as high as 10x miles or more!) However, there are times when I focus charging my purchases on a credit card that are going to maximize warranty over miles.
One of the main reasons why I carry the American Express Platinum charge card is because of the warranty protection. The Amex Platinum also offers return protection and lost protection within the first 90 days as well (which I’ve taken advantage of both).
Read here about my first time using my American Express Platinum’s return protection.
Since 2011, my family has had 4 HP laptops go bad! Between Teddy, me and my parents we’ve all had at least one computer fail on us. My parents were the lucky ones to have two fail. Had we purchased the laptops on a credit card that offers great warranty service like the American Express Platinum, we could have had the computers fixed at no cost to us! Since the computers crashed after the manufacture’s warranty expired, it was cheaper to purchase new computers all together.
Each credit card’s warranty program is different, but the general rule of thumb is American Express offers the BEST in warranty replacement program. If your American Express card participates in the warranty program, they will DOUBLE the warranty if it’s 5 years or less.
For example, most computers come with either a 1 or 2 year warranty. This means that Amex would offer an additional 1 or 2 years past the manufacture’s warranty. The stipulation is that you have to put the ENTIRE purchase on your American Express card.
Miles versus Warranty
A nice laptop can easily cost over $1,000. Teddy and I just bought Macbook Pros this year and they were roughly $1,200 a piece. Let’s say Barclaycard has a deal going on through their shopping portal that’s offering 5x miles when use your card at Apple or Best Buy. That would be quite tempting to collect a 5% return in miles! You have to ask the question though, are 5x miles worth loosing the extended warranty that American Express offers? I don’t think so.
Sure, you can buy extended warranty through Apple or Best Buy, but that’s going to cost you hundreds of dollars on each item.
Why I chose American Express over “the others”
As mentioned before, other credit cards offer warranty protection too. The Citi AAdvantage Executive card costs the same as the Platinum, $450, but offers lounge access to the Admiral’s Club. The Amex Platinum offers lounge access to Delta Sky Lounges and the Centurion lounges.
Looking at the terms and conditions of the Citi AAdvantage Executive card, you’ll notice that their extended warranty only covers items up to 12 months!
Coverage duplicates the manufacturer or store warranty up to a maximum of 12 months on most items you purchase and is limited to the lesser of the amount charged to your card or $10,000.
The Amex Platinum offers up to 5 years and includes $200 a year to spend on the airline of your choice. A much better card in my opinion!
The next time you go apply for a credit card, look to see what cards you have in your wallet and if any of them offer warranty protection. Investigate the terms and conditions and research which assurance company that credit card uses for all warranty claims. If you don’t have a credit card that offers extended warranty, you may just want to make room in your wallet for one that does!
I put ALL major purchases on my American Express card and then I scan a copy of my receipt in and drop it in my receipts folder. I’d much rather know I’m protected for each purchase than earn a few extra bucks in miles.
Since I’m in the IT field, I purchase quite a few electronics. Any time a store offers to sell me an extended warranty, I decline with a smile and tell them I have an American Express credit card 🙂