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Credit Card Feature: Extended Warranty On Australian Goods

Extended warranty could come in handy should you have a problem with your purchases as it is a way to get extra coverage for them. Compare credit cards with extended warranty.

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What is extended warranty?

Extended warranty insurance is a benefit to eligible credit cardholders and extends the cover of the manufacturer's warranty on personal goods purchased with that particular credit card. The cover essentially extends the manufacturer's expressed Australian warranty on personal goods purchase with the eligible credit card. The insurance doesn't affect the rights of the cardholder against a manufacturer in the event if a law is violated under Australian legislation.

What are the types of extended warranty?

Generally, there is only one type of extended warranty but its the period of extended warranty that differs. The extended warranty period will match the period of the Australian warranty period, with a maximum of 12 months and doesn't apply if the existing Australian warranty is in excess of 5 years. So if you had bought an item that already had a 5 year warranty, you would not be eligible for extended warranty insurance.

Australian warranty period (when you buy the item)

You'll be covered for an additional:

7 days

7 days

34 days

34 days

6 months

6 months

1 to 5 years

1 year

Cover 5 years

No cover

How does extended warranty work?

When you purchase an item, there may be an Australian warranty already in place for the purchase. This is the manufacturer's expressed written warranty, that is applicable and able to be fulfilled within Australia and needs to be officially registered with the manufacturer. The extended warranty from your credit card will take place after the Australian warranty period ends, given that it is less than 5 years. Only items with a manufacturer's unique identification number will be covered under this particular insurance. If you want to make claim for the extended warranty insurance, usually an excess will apply.

The following also needs to apply to be eligible:

  • You must purchase the item with your credit card in order to get the benefit.
  • Some credit card companies require you to register your item with them in order to get the extended warranty coverage.
  • If you need to use the extended warranty, you will have to show proof of purchase and your credit card receipt proving you used your card to pay for the item.
  • If you purchased any additional coverage, you will have to provide proof of that as well as the manufacturers warranty.
  • If you cancel the card you used for the purchase, the extended warranty will also be voided.
  • In order to file a claim, you will have to meet all of the above listed terms and fill out a claims form that your credit card company will provide.

How to compare extended warranty

  • Excess - You will most likely need to pay a certain amount for each extended warranty insurance claim. This isn't an additional fee charged by the insurer at the time of making a claim, but a portion of the loss for which the credit card holder has incurred.
  • Claim process - Insurers all have similar processes as to how you can claim extended warranty insurance, but some may be more complicated than others. When you apply for your credit card you can enquire with the provider about the steps involved as they should have an idea.
  • Limits - The liabilities for claims usually have a limit on the amount you claim within a year, or it has to match the purchase price of the personal goods that were purchased with your credit card.

American Express Credit Card Offer

American Express Platinum Edge Credit Card

Get $150 back
$200 Travel Credit each year

Offer ends 02 November 2020

Eligibility criteria, terms and conditions, fees and charges apply

American Express Credit Card Offer

Earn Membership Rewards Points per $1 spent and get a $200 Travel Credit every year, combined with complimentary domestic and international travel insurance.

  • $150 back when you spend at least $1,500 within the first 3 months
  • $195 annual fee | 20.74% p.a. on purchases
  • Earn up to 3 Membership Rewards Points per $1 spent
  • Complimentary purchase and travel insurance covers
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Compare Credit Cards that include Extended Warranty on Purchases

Data indicated here is updated regularly
Name Product Purchase rate Balance transfer rate Annual fee
American Express Platinum Edge Credit Card
20.74% p.a.
$195
Get $150 back when you spend at least $1,500 within the first 3 months. Plus, receive $200 Travel Credit each year. Ends 2 November 2020.
Citi Clear Card
0.9% for 15 months, reverts to 14.99% p.a.
0.9% p.a. for 15 months
$99
Save with 0.9% p.a. for 15 months on purchases and balance transfers. Plus, complimentary purchase insurance cover. Ends 16 November 2020.
Citi Rewards Card - Exclusive Offer
21.49% p.a.
0% p.a. for 30 months
$49 annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive
Save on interest with 0% p.a. on balance transfers for 30 months with no balance transfer fee. Plus, a $49 first-year annual fee and Citi Rewards.
St.George Amplify Platinum
0% for 7 months, reverts to 19.74% p.a.
0% p.a. for 22 months with 1.5% balance transfer fee
$0 annual fee for the first year ($99 p.a. thereafter)
Save with 0% p.a. interest rates on purchases and balance transfers. Plus a $0 first-year annual fee.
Citi Rewards Card - Flybuys Offer
21.49% p.a.
0% p.a. for 15 months with 1% balance transfer fee
$49 annual fee for the first year ($149 p.a. thereafter)
Receive 75,000 bonus Flybuys points and a $100 Kmart eGift Card when you meet the spend requirement. Plus, a reduced first-year annual fee.
Citi Rewards Card - $500 Voucher Offer
21.49% p.a.
0% p.a. for 12 months
$99 annual fee for the first year ($199 p.a. thereafter)
Get a $500 e-voucher to spend at Myer, JB Hi-Fi or Coles when you spend $3,000 in the first 90 days. Plus, earn points with the Citi Rewards Program.
Bank of Melbourne Amplify Signature
19.74% p.a.
0% p.a. for 6 months
$139 annual fee for the first year ($279 p.a. thereafter)
Up to 200,000 bonus points (130k in the first year & 70k in the second year) when you spend $12k/year for the first 2 years.
St.George Vertigo Platinum
0% for 15 months, reverts to 12.99% p.a.
6.99% p.a. for 12 months
$49 annual fee for the first year ($99 p.a. thereafter)
Features an introductory 0% p.a. purchase rate, $49 first year annual fee and complimentary travel insurance covers.
Citi Simplicity Card
21.49% p.a.
0% p.a. for 6 months
$0
Get 0% p.a. interest for up to 6 months on balance transfers with no balance transfer fee. Plus, a $0 annual fee for life.
ANZ Platinum Credit Card
0% for 17 months, reverts to 20.24% p.a.
20.24% p.a.
$0 annual fee for the first year ($87 p.a. thereafter)
Receive a 0% purchase rate offer for 17 months and a $0 first-year annual fee. Plus, complimentary overseas travel and medical insurance.
Suncorp Clear Options Platinum Credit Card
20.74% p.a.
$129
Earn 100,000 bonus points when you spend $3,000 in the first 90 days. Plus, complimentary insurance covers included.
Bank of Melbourne Amplify Platinum - Qantas
19.74% p.a.
0% p.a. for 15 months with 1% balance transfer fee
$99
Receive 70,000 bonus Qantas Points when you spend $1,500 each month for the first 3 months and earn up to 0.5 Qantas Points per $1 spent.
St.George Rainbow Vertigo Platinum
0% for 15 months, reverts to 12.99% p.a.
6.99% p.a. for 12 months
$49 annual fee for the first year ($99 p.a. thereafter)
All the platinum features of the Vertigo Platinum Visa with a rainbow design in support of the LGBT community.
Bankwest Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months
$0
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and a balance transfer offer.
St.George Amplify Platinum - Qantas
19.74% p.a.
0% p.a. for 15 months with 1% balance transfer fee
$99
Earn 70,000 bonus Qantas Points, plus enjoy 0% p.a. on balance transfers for 15 months and complimentary insurance covers.
BankSA Amplify Platinum - Qantas
19.74% p.a.
0% p.a. for 15 months with 1% balance transfer fee
$99
Receive 70,000 bonus Qantas Points when you spend $1,500 each month for the first 3 months. Plus a 0% balance transfer offer.
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Pros and cons of extended warranty

Pros

  • Peace of mind - Nowadays you don't have to worry about buying a separate warranty if you are planning to pay for it with one of your credit cards.
  • Easy to access - Many rewards and premium credit cards now come with complimentary extended warranty on eligible purchases. Many retail rewards credit cards come with this kind of offer.

Cons

  • Only applies to Australian purchases - In most cases, the warranty will only apply when you buy an Australian manufactured product. This means that if you try to shop overseas or online the warranty won't apply.
  • Fine print - Be sure to check with your lender to see if the product is covered under the terms and conditions. But if the purchase is eligible, you will get cover for up to 12 months after the purchase.

What to avoid with extended warranty

  • Not knowing the terms and conditions - It is important for you to know when and where your extended warranty applies, and if you have any questions you should go directly to your lender to sort any doubts on its usage. Take a look at the following highlights which will lead you through the way of using the extended warranty.

Frequently Asked Questions

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