@quickstrike wrote:I plan on buying a new cell phone outright and have a minor dilemma....would it be better to charge on my Visa Signature card which will give me 5% cashback (~$45) or should I go for Amex at 1% which supposedly has a better warranty experience? Any opinions are appreciated.
Think it depends on the phone, your risk of needing warranty etc. If it was me and there was a warranty already on the phone for the first year or whatever then I wouldn't be too concerned and would rather have the $45. If you are someone who is prone to needing the warranty then that can change the calculation. I initially bought insurance on my phone and then quickly cancelled when I did the math and looked at the policy. I've never broken a phone in my life knock on wood. I never lost a phone. I did have a phone stolen which jammed me up, but that was the result of a third party committing a crime in a very unique circumstance and is not something I feel at a high risk for happening again. I believe this is going to come down to each person's comfort level, but I don't think the extra protection of Amex over visa is necessarily worth the lost $45.
I'd also really read up about amex warranty, because it may not cover everything you think it does. Don't rely on other people telling you about how great amex is. Do the research beyond posting here, because you will need to find people who used the process for their phone. I have heard complaints about amex warranty experiences as well as positive remarks.
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I agree with the above posts -- what is more important to you, the warranty and peace of mind or the cashback? Also, does your phone come with any kind of warranty (sometimes phones come with a 1 year warranty)? I personally have never lost or broken a phone (*knocks on wood*) so I'd take the cashback but I can understand if someone would rather have the warranty. Definitely check the card's T&Cs to see what (or if) phones are covered and to what extent. You can probably also buy a warranty from the retailer for the phone and that might be a better deal (and cover more). Another thing to consider is how long do you plan to use the phone? I usually plan to keep my phone for two years and if it's still fine after the one year warranty is up, it'll probably be okay for another year.
Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500Plunkin' down some cash for the iPhone 6s Plus, I see. 