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Why has Amex/Chase/CapitalOne NOT matched Citi's new "extra" 2 year warranty?

Why has Amex/Chase/CapitalOne NOT matched Citi's new "extra" 2 year warranty?

Old Aug 25, 16, 7:47 pm
  #1  
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Why has Amex/Chase/CapitalOne NOT matched Citi's new "extra" 2 year warranty?

FOLK SEEM TO FORGET THAT ONLY CITI CARDS (EVEN BASIC CITI CARDS) OFFER A BENEFIT THAT NEITHER CHASE NOT AMEX HAS MATCHED.

This benefit is an additional 24 months (or 2 years) of extra warranty under their extended warranty program. So if you buy an iphone, Macbook and other electronics, you will get a total of 3 years warranty (1 year from the manufacturer + 2 years from Citi). Other card issuers only double the warranty up to 12 months.....so with Chase or Amex, an iphone/macbook etc will only score you a max of 2 years of warranty (1 year from the manufacturer + 1 year from Amex/Chase
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Old Aug 25, 16, 8:18 pm
  #2  
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I think it is too soon. Citi implemented this as part of a general insurance benefit refresh in mid-May. That's only about three months ago. Citi has also not done much marketing to increase cardholder awareness of this specific benefit.

The reason Citi extended the coverage is to reduce churn. To use the benefit you must keep the card open for the entire duration of the warranty. If this reduces card account cancellations you can be confident that the other issuers will follow.
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Old Aug 25, 16, 8:26 pm
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Any experience on how easy/difficult it is to process a claim with Citi? Chase was quite difficult, while AMEX was very streamlined in my experience. For this reason I shifted all my expensive item purchases to AMEX.
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Old Aug 26, 16, 1:54 pm
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Originally Posted by edealinfo12345 View Post
FOLK SEEM TO FORGET THAT ONLY CITI CARDS (EVEN BASIC CITI CARDS) OFFER A BENEFIT THAT NEITHER CHASE NOT AMEX HAS MATCHED.
From my Citibank Costco card's benefits page:

With Extended Warranty, you can shop with more peace of mind, knowing your purchase can be protected even longer.

You may have up to an extra year added on to your manufacturer’s warranty for up to a total of six years so you can feel more confident when you use your Citi card and/or your Costco Cash Rewards coupon to purchase at least a portion of the item. You're covered for up to $10,000 per item.


So I guess not ALL cards have two years? Bummer--that would have been nice.
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Old Aug 26, 16, 2:05 pm
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Just called Citibank to confirm my post above. Seems my extended warranty is one year because I have the business version of the card. The consumer Costco card is indeed two years.
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Old Aug 27, 16, 9:18 am
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Originally Posted by B747SP View Post
Any experience on how easy/difficult it is to process a claim with Citi? Chase was quite difficult, while AMEX was very streamlined in my experience. For this reason, I shifted all my expensive item purchases to AMEX.
I have a had a good experience with Citi with regard to "price protection" --- when the price dropped $35 on an item I purchased my claim for the differential was approved. I have no experience with Citi on extended warranty.

I have had GREAT experience with Chase on extended warranty for an iphone.

Note that AMEX does not offer extended warranty or price protection!
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Old Aug 27, 16, 9:21 am
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Originally Posted by mia View Post
I think it is too soon. Citi implemented this as part of a general insurance benefit refresh in mid-May. That's only about three months ago. Citi has also not done much marketing to increase cardholder awareness of this specific benefit.

The reason Citi extended the coverage is to reduce churn. To use the benefit you must keep the card open for the entire duration of the warranty. If this reduces card account cancellations you can be confident that the other issuers will follow.
Thank you. You make good points.

Could you clarify whether for CHASE cards one still needs to be a cardholder at the point in time the warranty is exercised? Chase only offers 12 months extra warranty, but will you still get the warranty if you buy the item when you are a Chase card holder, but when the extended wararnty is actually exercised (i.e., you file a claim) you are no longer that specific cardholder?
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Old Aug 27, 16, 12:10 pm
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The guide to Sapphire Preferred insurance benefits is here:

https://www.chasebenefits.com/sapphirepreferredVW17

It includes this statement:

The benefits described in this Guide will not apply to Cardholders whose accounts have been suspended or canceled.
Similar text occurs at various places throughout the booklet. I have not verified that it appears in every benefit.

I think it's an open question if the insurer would enforce this provision as written if a cardholder "upgraded" from Sapphire Preferred to the more expensive Sapphire Reserve, but they could.
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Old Aug 27, 16, 7:21 pm
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Originally Posted by edealinfo12345 View Post
Note that AMEX does not offer extended warranty or price protection!
Don't think this is correct. Amex offers extended warranty--does not offer price protection.

By the way, my experience Amex is way easier to use extended warranty than Visa/MC.
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Old Aug 27, 16, 11:41 pm
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Originally Posted by mia View Post
The guide to Sapphire Preferred insurance benefits is here:

https://www.chasebenefits.com/sapphirepreferredVW17

It includes this statement:



Similar text occurs at various places throughout the booklet. I have not verified that it appears in every benefit.

I think it's an open question if the insurer would enforce this provision as written if a cardholder "upgraded" from Sapphire Preferred to the more expensive Sapphire Reserve, but they could.
Thanks! All the more reason I will use the Citi card for purchases of all electronics since it has the same provision as Chase and other issuers but with the advantage of an extra 2 years warranty (vs 1 yr for other card issuers)
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Old Sep 5, 16, 8:25 am
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Originally Posted by mia View Post
The reason Citi extended the coverage is to reduce churn. To use the benefit you must keep the card open for the entire duration of the warranty. If this reduces card account cancellations you can be confident that the other issuers will follow.
This seems way too generous to be sustainable. I mean how many phones this year really last beyond two years? Not really sure what Citi was thinking or if they were thinking at all.

When they announced this back in May, my first thought was that this benefit was even more generous (in aggregate) than Prestige's three rounds of gold. The crazy part is this is applicable to every Citi personal card.
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Old Sep 5, 16, 11:40 am
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Originally Posted by jediwho View Post
This seems way too generous to be sustainable. I mean how many phones this year really last beyond two years? Not really sure what Citi was thinking or if they were thinking at all.

When they announced this back in May, my first thought was that this benefit was even more generous (in aggregate) than Prestige's three rounds of gold. The crazy part is this is applicable to every Citi personal card.
>>>>This seems way too generous to be sustainable.

That is Citi's issue, not the consumer, who shouldn't worry about Citi's business decisions.

Making the benefit available to all Citi cards will ensure that virtually all electronic purchases will be routed on their cards. I, for instance, wouldn't consider a non-Citi for such purchases. It is just not logical.
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Old Sep 5, 16, 12:21 pm
  #13  
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Originally Posted by jediwho View Post
...way too generous to be sustainable.
The insurance company has already estimated the claims cost, given Citi a price, and Citi has agreed. I have never kept a phone less than five years and I have never needed one serviced. The consumer's perceived value of this benefit may be much greater than the cost to provide it.

Last edited by mia; Sep 5, 16 at 12:31 pm
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Old Sep 5, 16, 11:49 pm
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Originally Posted by mia View Post
The insurance company has already estimated the claims cost, given Citi a price, and Citi has agreed. I have never kept a phone less than five years and I have never needed one serviced. The consumer's perceived value of this benefit may be much greater than the cost to provide it.
This. A lot of people simply don't realize that their cards have this sort of benefit in the first place or think to use it in the event that their electronic device breaks. I'd imagine the math would work out a lot differently if people actually used the benefits.
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Old Oct 24, 16, 3:47 pm
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Is this on all cards or only on the costco and premium cards? I plan on keeping my double cash or no fee TYP card forever.
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