A few months ago, I was in the hunt for a new phone and found a good deal on the new LG Nexus 5X phone (by Google) and pulled the trigger. Within three weeks of my purchase, I managed to drop my phone face down on the pavement and sure enough, when I picked it up, the screen had a very slight crack on it. Two days later, I had to move some furniture and the heavy TV stand banged against the phone in my pocket, further cracking the screen. So frustrating!!!
I remember thinking that the damage to my phone happened so soon after I had purchased the phone that there must be some sort of coverage or protection offered by my credit card company. So I did some research, and sure enough, I found a detailed purchase protection program outlined by Chase that offers coverage for situations just like the one I was in. The purchase protection language states the following:
Benefit Overview
- Can repair, replace or reimburse you for eligible items in the event of theft or damage when items are purchased with an eligible Chase card or with rewards earned on an eligible Chase card
- Coverage is in excess of any valid and collectible insurance such as homeowner’s insurance, or other forms of reimbursement
Who’s Covered
- Cardholder
- Recipients of gifts purchased by the Cardholder with an eligible Chase card
Coverage Amount/Period
- Up to a maximum of $500 per claim and up to $50,000 per account
What’s Covered
- Eligible personal property that has been damaged, stolen, or involuntary and accidental parting with property within 120 days from the date of purchase
What’s Not Covered
This is not an exhaustive list. Examples include:
- Items that mysteriously disappear with no evidence of a wrongful act
- Used or pre-owned items
- Antiques and collectible items
- Boats, automobiles, aircraft and any other motorized vehicles
- Computer Software
- Items purchased for resale, professional, or commercial use
After submitting my claim, Chase followed up asking for a quote from an authorized phone repair store. Once I got the quote and sent it back to Chase, they promptly sent me a check to cover my costs! Chase will reimburse you up to the amount that you charged on your card to fix your item (under $500 without further paperwork). I find this perk to be very underutilized and for cardholders to be unaware of the additional benefits that their credit cards offer.
So next time you have an issue within 90 days of an item you’ve purchased, take a look at your credit card’s purchase protection program and see if you’re covered!
VISA, AMEX and (probably Mastercard too) offers extended warranty coverage – a year past the end of the manufacturer’s warranty.
You follow the same process but with VISA and AMEX I needed to use the warranty on three occasions (combination of VISA and AMEX) and I was paid for each claim. It is a benefit few know about or use.
Glad to hear about the damage warranty as well. I did not have damage in any of my three instances; the covered items just stopped working.
Great to know that the card processors also offer protection and warranties!
What about after 90 days, I use Att access citi card, my phone just got damage so bad but this is way beyond 90 days, Can anyone help me?
Had two excellent experiences with Amex Platinum, one on extended warranty that covered purchase price of a Google Nexus phone that had a dead screen after Google’s warranty, and the other recently on purchase protection that refunded most of the cost of prescription glasses I lost a week after buying them.
A great benefit as long as you can document the loss or issue.
I have a claim into Amex. They want estimate from authorized repair facility. My phone is a Huawei. I couldn’t find an authorized repair facility and in fact called Huawei and they said they do not have an authorized repair facility for items sold in the US. Sent a note to Amex to this affect. Not sure what to do at this point. Perhaps get an estimate from a non authorized repair facility and send that to them?
I was confused by the authorized repair facility requirement as well. So I called Chase and they clarified that they just needed a quote from a cell phone repair store, one that fixes phones professionally. If you can get a store to print you a quote with their letterhead, you should be all set. Best of luck!