Wednesday, January 2, 2008

Review: American Express - Buyer's Assurance Plan – Absolutely amazing!

American Express Buyer's Assurance is one of the many reasons why everyone needs an American Express card! I have successfully used this feature many times.

All Amex cards come with Buyer’s Assurance!

If you buy a new item that has a one year warranty, Amex will give you the second year warranty for free! (Any warranty between 1 and 5 years, Amex will give one extra year warranty)

If your camera breaks a year and a half after you purchased it, don’t throw it out. Call Amex (800-225-3750) and file a claim.

They might ask you to fax them (800-858-5971):

• The receipt
• The warranty
• The Amex credit card statement from the month of purchase

Often, they will refund the full purchase amount without even asking you to send in the item. It seems that items under $400 they just refund, and items over $400 they may ask you to send it in or bring it somewhere to estimate damages. They will either cover the cost of repair or refund the full purchase price.

Note: If from the repair estimate, it sounds like there was physical damage to the item, Amex will not cover it!

If the item breaks after 11 months you might find it worth it to wait a month and call Amex. It is often much easier than trying to get the company to fix the item.

Once you have filed a claim, you can click here to check the status.

When you buy something new: make sure it has at least a 1 year warranty. Amex will double your warranty up to a year, so if the item comes with a 3 month warranty, Amex will only give you another 3 months.

  • Keep your warranty. If you don’t have the warranty, Amex will try locate it for you, but it might take some time. I once just printed out the warranty from the company’s website and Amex accepted that.
  • Keep the receipt. (On it saves your receipts for many years to come.)
  • Keep your monthly credit card statements.
There are other non-Amex credit cards which claim to have this feature as well, but I am sure it’s not as easy to actually file a claim with them.

Click here for a list of the best Amex cards.


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