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Member
Posts: 9
Registered: ‎12-16-2011
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Purchase Protection

Just wondering what everyone's experience is with purchase protection on various cards. I have a Visa Signature, World Mastercard, Discover, and American Express, but I don't know which one offers the best purchase protection. Any ideas?

Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
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Re: Purchase Protection

Amex in my case


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Registered: ‎04-15-2013
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Re: Purchase Protection

I would say amex

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Established Member
Posts: 22
Registered: ‎05-11-2013
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Re: Purchase Protection

American Express offers benefits for eligible purchases that will cover the cost of accidental damage or theft within 90 days of purchase. My buddy bought a laptop from BestBuy and the screen cracked in the first 30 days, and Amex completely covered the cost painlessly. American Express is known for their level of service and purchase protection.


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Valued Contributor
Posts: 1,550
Registered: ‎11-10-2012
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Re: Purchase Protection


bryan8392 wrote:

Just wondering what everyone's experience is with purchase protection on various cards. I have a Visa Signature, World Mastercard, Discover, and American Express, but I don't know which one offers the best purchase protection. Any ideas?


Fortunately, I've never had to use this benefit. I'd like to hear people's experiences as well.

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Posts: 7,132
Registered: ‎02-27-2013
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Re: Purchase Protection


bryan8392 wrote:

Just wondering what everyone's experience is with purchase protection on various cards. I have a Visa Signature, World Mastercard, Discover, and American Express, but I don't know which one offers the best purchase protection. Any ideas?


It honestly depends on the lender itself, rather than the payment network you are using. 

 

Discover and American Express have pretty good reviews regarding this.

As for Visa and MC, it really depends on which lender you are dealing with. Each of those lenders sub-contract this to other warranty / insurance companies. 

 

When you're filing a dispute or protection or warranty claim for anything you're dealing with those insurance companies, not Visa or MC. 

Discover, American Express and Citi are the only ones I know where the insurance company in charge of these claims happen to be a subsidary of the banking institution as well. 

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