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Compare and learn how an extended warranty with your credit card works

An extended warranty can give you extra coverage for your purchases –and can come in handy if you have a problem.

A credit card extended warranty is a feature offered by Visa, Mastercard and American Express. This warranty will usually match and exceed the length of a manufacturer’s warranty on an eligible purchase. Purchases that typically don’t have a manufacturer’s warranty are usually not eligible for an extended warranty.

How does a credit card extended warranty work?

The extended warranty from your credit card will take place after the manufacturer’s warranty ends. Many providers will double the length of the manufacturers warranty up to one year only, which means that you’ll be covered for an additional year by your credit card company once your manufacturers warranty runs out.

If your purchase comes with manufactures warranty up to five years, it’s more than likely that you’ll need to register the item with your credit card company within the first year of purchase. In addition, some providers require you to register the item with them, even if the warranty is less than five years.

Once a claim is submitted, it’s at the credit card companies discretion if they will repair or replace your purchase. They also have the option to reimburse you. The extended warranty will not cover anything extra that wasn’t covered by the manufacturer’s warranty. Claims will be dismissed for purchases with damages such as normal wear and tear, inflicted damage or damage from natural disasters such as floods.

Compare credit cards with purchase protection

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months Valid until May 2, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
OFFER
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months Valid until May 2, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
EXCLUSIVE
Neo Financial Mastercard
Get $25.00
Average 5% cash back
19.99% - 26.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 0.5% cashback guaranteed.
American Express Cobalt Card
30,000 points
Up to 5x points per $1 spent
20.99%
$155.88
Min. recommended credit score: 700
Earn up to 30,000 Membership Rewards points in your first year. Earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your card (up to 30,000 points). That’s up to $300 towards a weekend getaway or concert tickets.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
12.99%
$0 annual fee for the first year ($20 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $20 annual fee waived in the first year.
American Express Green Card
10,000 points
1 point per $1 spent
20.99%
$0
Min. recommended credit score: 700
Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.
BMO Ascend World Elite Mastercard
60,000 points
Up to 5x points per $1 spent
20.99%
$0 annual fee for the first year ($150 thereafter)
Min. recommended credit score: 760
Get up to 60,000 points and get the $150 annual fee waived in the first year.
BMO Rewards Mastercard
10,000 points
Up to 1 points per $1 spent
20.99%
$0
Min. recommended credit score: 725
Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months. Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
BMO eclipse Visa Infinite Privilege
90,000 points
5 points per $1 spent
20.99%
$499
Min. recommended credit score: 760
Get up to 90,000 welcome points in your first year.
SimplyCash Card from American Express
$100 in statement credits
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 700
In your first 10 months, earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases. This could add up to $100 in statement credits in the first 10 months.
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Compare up to 4 providers

What do I need to make an extended warranty claim?

Before making a claim:

  • The item must be purchased with your credit card.
  • Some credit card companies require you to register your item with them during the first year of purchase.

When making a claim:

  • Show proof of purchase and your receipt proving you used your card to pay for the item.
  • If you purchased any additional coverage, you will have to provide proof of that as well as the manufacturers warranty.
  • Fill out a claims form that your credit card company will provide.

Keep in mind that if you cancel the card you used for the purchase, the extended warranty will also be voided.

How to compare extended warranties

  • Coverage period. Extended warranties typically range from one to three years. If the purchase is something that you’ll want to have around for a few years, it is smart to choose a card with a longer coverage period.
  • Deductibles. You will most likely need to pay a certain amount for each extended warranty insurance claim.
  • Claim process. Insurers all have similar processes as to how you can claim extended warranty insurance, but some may be more complicated than others. When you apply for your credit card, inquire about the steps involved.
  • Limits. The liabilities for claims usually have a limit on the amount you claim within a year, and many providers set limits for how much you can claim throughout your lifetime (or the lifetime of the card).
  • Processing period. Some claims can be filed and credited within a week, while others can take several months.

Pros and cons of an extended warranty

Pros

  • Peace of mind. You won’t have to worry about buying a separate warranty if you’re planning to pay for your purchase with one of your credit cards.
  • Easy to access. Many rewards and premium credit cards come with complimentary extended warranty on eligible purchases.

Cons

  • Fine print. Be sure to check with your lender to see if the product is covered under the terms and conditions. If your purchase is eligible, you will usually get coverage for up to one year after your manufacturers warranty runs out.
  • Registering your item. You may have to register your purchase with your credit card provider, especially if the item has a warranty of five years or more.

What to avoid with an extended warranty

  • Not knowing the terms and conditions. It’s important for you to know when and where your extended warranty applies – and if you have any questions, you should go directly to your credit card provider to sort out any doubts you may have.
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Frequently asked questions about credit card extended warranties

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