Why has Amex/Chase/CapitalOne NOT matched Citi's new "extra" 2 year warranty?
Aug 25, 2016, 6:47 pm
#1
Original Poster
Join Date: Jul 2016
Posts: 495
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
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
Aug 25, 2016, 7:18 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.
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.
Aug 26, 2016, 12:54 pm
#4
Join Date: Jan 2004
Location: SFO, SJC, OAK, LVK AA Lifetime Plat 2MM, LUV A-List, Hyatt Gold, SPG Lifetime Gold, Commercial Pilot (not employed by airlines)
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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.
Aug 26, 2016, 1:05 pm
#5
Join Date: Jan 2004
Location: SFO, SJC, OAK, LVK AA Lifetime Plat 2MM, LUV A-List, Hyatt Gold, SPG Lifetime Gold, Commercial Pilot (not employed by airlines)
Posts: 1,531
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.
Aug 27, 2016, 8:18 am
#6
Original Poster
Join Date: Jul 2016
Posts: 495
I have had GREAT experience with Chase on extended warranty for an iphone.
Note that AMEX does not offer extended warranty or price protection!
Aug 27, 2016, 8:21 am
#7
Original Poster
Join Date: Jul 2016
Posts: 495
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.
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.
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?
Aug 27, 2016, 11:10 am
#8
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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.
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.
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.
Aug 27, 2016, 6:21 pm
#9
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Aug 27, 2016, 10:41 pm
#10
Original Poster
Join Date: Jul 2016
Posts: 495
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.
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.
Sep 5, 2016, 7:25 am
#11
Join Date: Jul 2014
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Posts: 1,305
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.
Sep 5, 2016, 10:40 am
#12
Original Poster
Join Date: Jul 2016
Posts: 495
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.
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.
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.
Sep 5, 2016, 11:21 am
#13
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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, 2016 at 11:31 am
Sep 5, 2016, 10:49 pm
#14
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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.