Executive Summary -
In this part of the review, we look at the benefits like extended warranty, purchase protection and return protection. Since card members will be earning extra cash back from groceries and department stores, these are important features to be aware of.
Since this is a card that one would use almost everyday for regular purchases, it is important to look at the purchases protection and extended warranty features of this card.
Purchase Protection - The purchase protection features protects you when you make any purchases with this card. You are protected against accidental damage or theft for up to 90 days when you charge the purchase to the card. The product is covered no matter which part of the world you bought it from. You are covered up to $1,000 each time and up to $50,000 in value in a calendar year. The product covered can be a purchase for yourself, a gift or for business purpose.
There are some purchases that are excluded from this benefit. This includes things like travelers checks (obviously), animals or living plants, rare coins, antiques, goods purchase or resale and business expenses like carpeting, medical equipment etc.
Return Protection - Unlike the purchase protection, purchase protection is valid only for purchases made in the United States. It is valid for up to 90 days since the date of purchase. To be honest, most retailers allow for returns. So this feature is really handy if you somehow came across a really nasty shop who refuses to take back your goods for whatever reason.
Extended Warranty - The extended warranty extends the warranty of the manufacturers' warranty for up to one year if the total warranty is five years or less. Let's use a few practical example to see how this works. You buy a product and charge it to your card. The manufacturers' warranty is good for six months. American Express will double the warranty so that your total warranty is now one year (six months with the manufacturer and six months with Amex). If they manufacturers warranty is one year, then Amex will extend it by another year, making it a total of two years. If the manufacturer's warranty is three years, then this card will extend it by another year to make it a total of four years. For the one year additional warranty to apply, the total number of years of warranty provided the manufacturer (including servicing plans) cannot exceed five years.
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