In this lecture, we will talk about popular benefit provided for some credit cards - extended warranty. When you see this benefit - you may make assumptions that are not correct. Not all purchases are covered! Also, there are some exclusions. It may be evident for some students; for others, it is not that clear.
First, you have to have a residence in the US. If you purchased the item and lost your home - you are not eligible anymore.
Second, you have to purchase the item using the credit card.
Extra years
The warranty doubles the original warranty for up to two years.
If the item has a warranty of one year - it will be extended by one year. Total will be two years.
If the item has a warranty for two years - it will be extended by two years. Total will be four years.
If the item has a warranty of three years - the total will be five years.
The extension will be applied to the original manufacturer's warranty. If you bought additional warranty - it would not count.
Warranty doubles an original manufacturers warranty only.
Exclusions
There are a lot of exclusions that you have to keep in mind.
If you bought the item for resale - you cannot pass the warranty to another person. You have to own the item.
Professional equipment is not covered.
For example, if you bought a professional-grade coffee machine - it is not covered.
If you bought professional training equipment - it is not covered.
Anything professional is not covered.
If the item has lifetime guarantee, forever guarantee - it is not covered. Any unconditional guarantee is not covered.
Vehicles are not covered as well. Cars, boats, airplanes, motorcycles, etc. - are not covered.
All vehicle parts are not covered.
Animals and plants are not covered.
Buildings and land also not covered.
Sounds silly but still, maybe some people buy a house with a credit card.
Land - I 'don't know how there can be a warranty on land.
Food is not covered.
Well, someone might buy milk and assume it will double the lifespan.
Perfume is not covered.
Light bulbs are not covered. Why may it be important? Let's say you buy a hue Philips kit for your house - the bulbs are not covered.
Batteries are not covered. Seems obvious, there is a well-known date when they will become not usable.
Next, motorized vehicles used in agriculture, demolition, construction are not covered.
Fixtures like carpet, doors, bath, etc. that cannot be removed without breaking the building.
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