Purchase Protection - Not often discussed here

[Anonymous]

Honestly, I've NEVER paid much attention to purchase protection. The first time I could have had a use for it, it turns out I used 'the wrong card'. Someone mentioned the superior protection on the AmEx Platinum and PRGs this morning and I thought maybe if I'm buying certain things, that might be good to pay attention to vs. a couple extra rewards. 

Have you used purchase protection? Do you allow that to influence what card you use? If so, on what kinds of purchases? 

My 'wrong decision' was when I bought my first iPhone 6+. DH and I both pre-ordered and threw them on a Cap One card that was sock drawered at the time since it was easy. It was only a platinum (old HSBC) at the time. My phone was stolen. It's now my understanding some purchase protection covers stolen and I think some doesn't. It WAS within the first 90 days. The only sizeable purchase I can think that I've maid since re-buying the iphone (full price on some better card...Freedom Visa Sig most likely) was my Apple watch on my Cash Plus (5% cat on Visa Sig). As I contemplate a 6s+ (which I really don't think I'll get, but I keep circling around) I have been influenced by the Apple Pay/Discover promotion and think that that would be what I should do. But then I can't order one, I have to go get it in the store. But I hadn't thought about protection. I'm sure it's pretty good. But since we're trying to meet spend on DH's plat, maybe that'd be a better idea protection wise. Probably not based on the Apple Pay deal, but what if that wasn't around...then would it balance out? Or if I decide I want it and I want to order one, then I could order on the plat. (again, probably not, but...) 

I just thought this would be an interesting discussion to take us away from talks of AA, CLI etc. 

And I think I'll go look into the protections on my cards. 

[Anonymous]

Good post! This morning I just signed up with Citi for protection and now I am going to check my other cards. Thanks!

[kdm31091]

It's not something I have ever personally used, as 99% of the time, these things are more of a PITA to use then they are really worth. While it's comforting to have the benefit if something major gets stolen/damaged/etc, it's not worth the hassle unless you're talking about a huge purchase (and to be fair the iphone would qualify as a huge purchase!).

A bit off topic, but I wouldn't go looking to make purchases because you're getting a discount. It seems you only want to purchase the iphone because you'll get the 20% apple pay or whatever. While that is a good deal, you're still spending 80% and if it's something you don't need, why waste the money?

Amex's protection is supposed to be pretty good but keep in mind you're paying for it with the AFs so it may be a wash vs using the protection on a no-AF Visa Sig, etc.

[Anonymous]

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@kdm31091 wrote:

A bit off topic, but I wouldn't go looking to make purchases because you're getting a discount. It seems you only want to purchase the iphone because you'll get the 20% apple pay or whatever. While that is a good deal, you're still spending 80% and if it's something you don't need, why waste the money?

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Nah, I WANT it. Certainly don't NEED it. So the discount helps justify the purchase. But my youngest niece might be old enough that we could do the iPhone shuffle and trickle down the old iphones again (3 teen/pre-teen nieces that are usually recipients of old phones). I'd likely do that over selling it. That helps with the justification too. 

[Anonymous]

It's not something I have ever personally used, as 99% of the time, these things are more of a PITA to use then they are really worth.

If you've never personally used it then how do you know its a PITA to deal with *99% of the time*? 😋 Id like to see a couple responses from those with a little experience.

[kdm31091]

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@Anonymous wrote:
It's not something I have ever personally used, as 99% of the time, these things are more of a PITA to use then they are really worth.

If you've never personally used it then how do you know its a PITA to deal with *99% of the time*? 😋 Id like to see a couple responses from those with a little experience.

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Haha, well, most warranties and protection services do not make things simple for the person trying to use them. That's just my perspective on it.

[Anonymous]

I used purchase protection on my iPhone 6 which shattered the day after I purchased it. I replaced the phone via AppleCare however they still charged something like an $80 copay. The Citi PP covered the copay so it was entirely free.

It wouldn't say it was a PITA. I just called the 1800 #, they mailed me some forms which required copies of the original receipt/repair bill and a pic of the damage. They then cut me a check shortly thereafter.

It's definitely a feature I look out for on my cards. If I remember correctly, Per the OPs note, I believe Discover covers 500$ while Amex covers 1k, but I'd say it's best to read both policies just in case.

[Anonymous]

Looks like all the AmEx cards I have offer the same Purchase Protection ($1k per, up to $50k per year) and Extended Warranty coverage$10k per, up to $50k per year) (EDP/ED/BCP/BCE/PRG/Plat) and they offer Return coverage if the merchant won't take something back within 90 days ($300 per, $1k per year). The TE offers the first two, but not the last. All the per year seem like that might be across all cards. 

They all seem to offer the same car rental blurb. 

ETA: And reading the PP, limits could be different, which could make a difference. Thanks for pointing that out. I'll edit my post as I find out stuff. 

[-Cal-]

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@kdm31091 wrote:

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@Anonymous wrote:
It's not something I have ever personally used, as 99% of the time, these things are more of a PITA to use then they are really worth.

If you've never personally used it then how do you know its a PITA to deal with *99% of the time*? 😋 Id like to see a couple responses from those with a little experience.

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Haha, well, most warranties and protection services do not make things simple for the person trying to use them. That's just my perspective on it.

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Mind sharing one of your first-hand experiences? I think it would be helpful to others who are interested to know exactly which warranty/protection services to avoid. 

I've personally had great experiences with several warranty/protection services ranging from Samsung TV, Apple's standard Warranty on iPhone, and I've had success returning things past standard 30 day return window with Amex.

[Anonymous]

And of course the HUGE news that Amex has made an "Important expansion to your Return Protection coverage"   Starting Oct 14th, it now covers purchases made in American Samoa, Federated States of Micronesia, Marshall Islands,  Palau, Guam and Northern Marshall Islands.

So if you were hesitating about getting an Amex...!

(OK, so for some people this could be useful.  Wouldn't call it an "important expansion" though)