Credit Cards

Best extended warranty credit card?

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  • Apr 3rd, 2021 5:22 pm
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[OP]
Sr. Member
May 22, 2012
958 posts
95 upvotes
MONTR

Best extended warranty credit card?

Hi,

Is there any CC that beats RBC Cash Back World Elite MC?
https://www.rbcroyalbank.com/credit-car ... urance.pdf

They triple manufacturer's warranty up to 2 years.

What do you guys think about it?

Also in terms of extended warranty, say you had 1 year, plus 2 from the CC. Does that mean if you had an issue, you can go to any repair center, get a quote and if the quote exceeds the cost of the item or very close to it, they just reimburse you?

How can they know if the item is actually broken, i.e. a laptop? If it's indeed broken, finding a replacement motherboard could be very costly but how would they know if the quote is legit?

Nowadays laptops can get very pricey that's why I wanted to have a CC that can give me the best extended warranty.

Thanks a lot.
20 replies
Newbie
User avatar
Jul 6, 2017
45 posts
49 upvotes
Québec
There is also NBC World Elite Mastercard:
https://www.nbc.ca/personal/mastercard- ... elite.html
Possibility of tripling the manufacturer's warranty up to 2 additional years

As with any insurance, I would suggest calling the insurance provider first before any expense to see if they will cover the costs or not.

Pretty sure that an additional 2 years is the most you can get from any credit card in Canada.
[OP]
Sr. Member
May 22, 2012
958 posts
95 upvotes
MONTR
Thanks a lot, their conditions seem to be really bad though, up to 60k for the entire lifetime of the account, and a lot of things like portable computers and electronics are excluded:
https://www.nbc.ca/content/dam/bnc/part ... 3705-3.pdf

RBC one is better IMO.

I can call them but if I act within agreement document, everything should be ok, so I think calling them might bring more BS and misinformation. RBC covers computers and laptops so I should be covered.
Sr. Member
Nov 22, 2012
699 posts
803 upvotes
NS
BMO CashBack World Elite MasterCard provides 180 day Purchase Security and upto an additional 2Y Extended Warranty.
[OP]
Sr. Member
May 22, 2012
958 posts
95 upvotes
MONTR
Thanks that seems like a good card, seems to include computers, etc. Only thing is up to $60k for the entire duration of the account vs $50k per year using RBC CC. Not the worst thing but something to think about.

https://www.bmo.com/pdf/CB_WE_Travel_Me ... ate_En.pdf
https://www.rbcroyalbank.com/credit-car ... urance.pdf

But BMO's 180 days is better than RBC's 120:

BMO: "This insurance covers against theft of, or damage to, covered items anywhere in the world. If such
item is stolen or damaged, it will be repaired, replaced or You will be reimbursed the Purchase Price, at
Our discretion."

RBC: "Remember to obtain a police, fire, homeowner insurance claim, or damage/loss report in
the event of a claim as it is required to determine eligibility for benefits.

This insurance is classified as supplemental, in that it covers expenses in excess of
expenses payable by any other insurance plan. For example, if you are covered under
homeowners insurance, this insurance will cover the deductible only."

So not sure this applies to extended coverage or only theft.
Member
Feb 5, 2012
421 posts
119 upvotes
Toronto
lachdanan wrote: Thanks that seems like a good card, seems to include computers, etc. Only thing is up to $60k for the entire duration of the account vs $50k per year using RBC CC. Not the worst thing but something to think about.

https://www.bmo.com/pdf/CB_WE_Travel_Me ... ate_En.pdf
https://www.rbcroyalbank.com/credit-car ... urance.pdf

But BMO's 180 days is better than RBC's 120:

BMO: "This insurance covers against theft of, or damage to, covered items anywhere in the world. If such
item is stolen or damaged, it will be repaired, replaced or You will be reimbursed the Purchase Price, at
Our discretion."

RBC: "Remember to obtain a police, fire, homeowner insurance claim, or damage/loss report in
the event of a claim as it is required to determine eligibility for benefits.

This insurance is classified as supplemental, in that it covers expenses in excess of
expenses payable by any other insurance plan. For example, if you are covered under
homeowners insurance, this insurance will cover the deductible only."

So not sure this applies to extended coverage or only theft.
Are there exceptions to this? I.e. tech gadgets getting stolen/damaged
[OP]
Sr. Member
May 22, 2012
958 posts
95 upvotes
MONTR
poppy1337 wrote: Are there exceptions to this? I.e. tech gadgets getting stolen/damaged
If I am not wrong RBC allows thefts some likely BMO too but damage I don't think so. Accidental damage would be too easy. But I think damage is covered within 120/180 days, because it's the sensitive protection timeframe I think.

That's why it's a big deal for me to have these "for free". Square trade only insures for 2500 USD for a computer which is nothing and they want 500 USD for this.

I use expensive computers/laptops that cost close to 10K CAD, so I want to be secured that they are insured properly. Not even travel insurance covers items this expensive.
Deal Addict
Sep 24, 2018
2330 posts
1219 upvotes
lachdanan wrote: If I am not wrong RBC allows thefts some likely BMO too but damage I don't think so. Accidental damage would be too easy. But I think damage is covered within 120/180 days, because it's the sensitive protection timeframe I think.

That's why it's a big deal for me to have these "for free". Square trade only insures for 2500 USD for a computer which is nothing and they want 500 USD for this.

I use expensive computers/laptops that cost close to 10K CAD, so I want to be secured that they are insured properly. Not even travel insurance covers items this expensive.
I have 10k+ machines as well, monitors you name it, even a new Mac Pro that was over 25k+

You need "REAL" insurance for this....for travel, you need a custom insurance solution as most will only go to a certain amount. One Dell Laptop I have is a mobile workstation, $14k was the total, when I was planning to travel with it, no one covered it to the whole value, I had to contact my normal insurance company and discuss "custom" solutions. In my house, I had to make sure they knew what was there in case of flood or fire. Anyone could buy an original lets say Tesla Video Card off the net now for like 500 bucks, but MSRP some websites still list as 20k each.......fraud would be rampant
[OP]
Sr. Member
May 22, 2012
958 posts
95 upvotes
MONTR
Techiedude wrote: I have 10k+ machines as well, monitors you name it, even a new Mac Pro that was over 25k+

You need "REAL" insurance for this....for travel, you need a custom insurance solution as most will only go to a certain amount. One Dell Laptop I have is a mobile workstation, $14k was the total, when I was planning to travel with it, no one covered it to the whole value, I had to contact my normal insurance company and discuss "custom" solutions. In my house, I had to make sure they knew what was there in case of flood or fire. Anyone could buy an original lets say Tesla Video Card off the net now for like 500 bucks, but MSRP some websites still list as 20k each.......fraud would be rampant
Thanks but can you have this kind of insurance if you don't have a permanent home? I am mostly concerned about malfunction. These CC extended warranties should cover for that outside manufacture's warranty right?
Deal Addict
Sep 24, 2018
2330 posts
1219 upvotes
To certain dollar values but if you’re talking 10k up, example a Rolex goes missing. They only cover some and warranty well they’ll possibly buy parts not replace with the latest
Sr. Member
Dec 12, 2007
847 posts
364 upvotes
Toronto
lachdanan wrote: Hi,

Is there any CC that beats RBC Cash Back World Elite MC?
https://www.rbcroyalbank.com/credit-car ... urance.pdf

They triple manufacturer's warranty up to 2 years.

What do you guys think about it?

Also in terms of extended warranty, say you had 1 year, plus 2 from the CC. Does that mean if you had an issue, you can go to any repair center, get a quote and if the quote exceeds the cost of the item or very close to it, they just reimburse you?

How can they know if the item is actually broken, i.e. a laptop? If it's indeed broken, finding a replacement motherboard could be very costly but how would they know if the quote is legit?

Nowadays laptops can get very pricey that's why I wanted to have a CC that can give me the best extended warranty.

Thanks a lot.

I think this card is good too but grandfathered

capital-one-aspire-cash-mastercard-worl ... m-1073421/
Sr. Member
Dec 12, 2007
847 posts
364 upvotes
Toronto
Has anyone actually ever used their extended warranty ? If so what did you have to include ? My understanding is that you need original recieiprs, and warranty proof, as well for example on the capital one card I see that it asks for a police or loss report ?? What?
Deal Guru
User avatar
Jan 9, 2011
13784 posts
17878 upvotes
Vancouver
phoenix_bladen wrote: Has anyone actually ever used their extended warranty ?
Never. Everything I have ever owned that failed either failed within the manufacturer's own warranty period, or long after both it and any credit card warranty expired. I'll take the feature if a card comes with it, but I wouldn't consider this feature to be a selling point or something I'd consider trading off something else to get at all.
Deal Addict
User avatar
Apr 24, 2006
1273 posts
826 upvotes
GTA
phoenix_bladen wrote: Has anyone actually ever used their extended warranty ? If so what did you have to include ? My understanding is that you need original recieiprs, and warranty proof, as well for example on the capital one card I see that it asks for a police or loss report ?? What?
I have several times. Capital One asked for a copy of the receipt, statement showing it was charged to the card, copy of warranty and some proof that the manufacturer can’t/won’t fix it (chat transcript sufficed). All in all about 30 minutes of pulling the documents together and sending them off.
"Just because something is on sale doesn't mean a) you can afford it, b) you should buy it, c) you need it, d) you're not spending far more buying it than not buying it at all"
Newbie
Dec 11, 2018
61 posts
95 upvotes
I used it twice, also Capital One (Aspire Travel - RIP). Yes, they asked for:
- receipt (these were online purchases so e-mail receipts)
- CC bill with the charge (easy to get online)
- copy of warranty (I keep most of these for anything that costs $20+)
- statement from manufacturer it cannot be fixed (or repair estimate, if it can be repaired they would cover the repair cost)

1. Mechanical keyboard ~$200
Stopped working a few weeks after 1 year warranty. A manufacturer responded via e-mail that they don't do repairs.
The insurance company also asked I send them the keyboard - I guess it makes sense to prevent fraud.

2. Xbox One
Stopped working the 2nd year. I actually got it checked by a local shop - mechanical damage inside. It was fine outside, the only explanation was that we moved so the damage could happen during the move. Interestingly it worked for a few months after move. Even when I got it back from the local shop I plugged it in and it again worked for another ~1 month before it stopped working again.

Microsoft does replacement, for a fee, for a refurbished unit after warranty. I did not want a refurbished Xbox One. I asked if I can get the the cost of the refurbished unit covered (~$190) and just buy a new Xbox One X. They OKed it, just asked for a receipt for the new unit. So I bought a new Xbox One X, send the receipt to the insurance folks and got $190 back for the old unit.

Overall I was very happy with the extended warranty service.
Jr. Member
May 9, 2018
110 posts
123 upvotes
Summerside, PE
There's 2 options that come to mind that others have mentioned - National Bank Travel cards and the BMO CashBack World Elite.

They also can add up to 2 years of additional coverage.
Deal Fanatic
Oct 3, 2004
6269 posts
1511 upvotes
The Rogers WE MasterCard is free and has price protection and extended warranty
Deal Addict
Oct 9, 2005
1877 posts
226 upvotes
champ91 wrote: The Rogers WE MasterCard is free and has price protection and extended warranty
It may be "free" but they'll downgrade your card if you don't spend $15k/year. It even says in their terms that if you are downgraded, the insurance that comes with it is cancelled too. The downgrading was supposed to start in 2020 but was put off due to covid. They will start downgrading cards in November.
Deal Guru
User avatar
Jan 9, 2011
13784 posts
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Vancouver
guessaaa wrote: It may be "free" but they'll downgrade your card if you don't spend $15k/year. It even says in their terms that if you are downgraded, the insurance that comes with it is cancelled too. The downgrading was supposed to start in 2020 but was put off due to covid. They will start downgrading cards in November.
Not true, November 2021 has always been the day that downgrades were scheduled to begin. They consider your spending between mid-2020 (when this was announced) and mid-2021. Nothing has changed.
Deal Addict
Oct 9, 2005
1877 posts
226 upvotes
Kiraly wrote: Not true, November 2021 has always been the day that downgrades were scheduled to begin. They consider your spending between mid-2020 (when this was announced) and mid-2021. Nothing has changed.
Okay, but my point still stands that it has required minimum spend of $15k/year, and you'll lose your insurance when you're downgraded.

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