Purchase Protection & Extended Warranty 2019 (How To Protect Your Expensive Purchases)


Hey guys, its your girl Bella. How are you? I hope everyone is doing well. Now, in today’s video, I wanted to talk about
two credit card benefits that I think are kind of not focused on a lot, and those are
purchase protection and extended warranty. Now, if you’re not familiar with what those
are, let’s go over that quickly. Now, purchase protection covers an item that
you purchase on your credit card anywhere from 90 to 120 days from purchase. Now, it protects you against theft, loss,
and/or damage. Then, extended warranty, it actually extends
the coverage of the original manufacturer’s warranty. Now, why is this important? These are just great protections that you
get from your credit card company that really can come in handy in certain unfortunate circumstances. I will give you some examples of where I have
used this myself. Now, let’s see, extended warranty. I had purchased these beautiful UGG boots
I think in 2015, I believe. Then, in 2017 I went to put them on one day,
and this happened. The shoe totally ripped. I was totally bummed, and because it was past
the one year mark, the UGG boots company obviously was not going to do anything for me, so luckily
I purchased these on my American Express platinum card. I filed my claim through American Express. I told them that the item was damaged. I actually had to send them pictures of the
rip and the tear, and I sent them a copy of my original receipt, because I purchased these
from Nordstrom. Within two to three business days they gave
me a credit on my credit card to reimburse me for the purchase price of these shoes. That was awesome, because then I was able
to go back and buy another pair of boots, which I did, in black. That for me was a win/win. Now, if I had purchased this on my debit card
or I had used cash, I would have just been out of luck. That was pretty awesome. Then as far as purchase protection, I used
this I want to say about two years ago in 2017. I went on vacation to Connecticut and I unfortunately
had dropped my cell phone in the river while taking a SnapChat video. Now, I had just purchased the cell phone about
two months before this trip, and when I purchased it I used my AmEx platinum to pay the deposit,
because I unfortunately, I am doing what we all seem to be doing is paying deposits on
these overly priced cell phones and making monthly payments. I filed the claim through American Express
and they ended up reimbursing me the deposit that I had paid on the phone. Now, if I had paid for the entire phone on
my platinum, I would have been reimbursed for the entire purchase price. Going forward, I am not doing any more payment
plans on cell phones. I plan to buy the cell phone outright. Not sure if I will use an American Express
card or a Chase card or a different card, but I will definitely be buying my phone in
full and putting it on a credit card to get that extra layer of protection. Because, yes, I do have insurance through
my cell phone carrier, but then you have to pay that deductible and that’s just extra
money that I wouldn’t have to spend. These are two examples where I have used purchase
protection and extended warranty by filing a claim through my credit card company, which
is really a great benefit and just gives you the extra security for the purchases that
you make on your credit card. Now, I know credit cards are looked upon as
bad, and they can be if you allow yourself to get into debt. But, if you can use them responsibly, you
can definitely use them as tools and take advantage of the perks and benefits that a
lot of these credit card companies do offer. Now, I know in my example I did reference
American Express, but obviously Chase, Citi Bank, etc, most of them have their own form
or purchase protection and extended warranty coverage, they just have their own terms and
conditions, etc. I’ll put links below to the different websites
so you can take a look. I know for me personally, American Express
and Chase are my two preferred banks when it comes to this type of coverage. They make the claims process very easy. American Express will give you a credit on
your credit card, whereas Chase normally cuts you a check. It just depends on what your personal preferences
are, but it’s definitely great having this kind of coverage. All right guys, if you have any questions,
make sure to comment below. Hit the like button, and don’t forget to subscribe. All right guys, talk to you soon. Bye.

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