Most American Express cards come with a generous extended warranty benefit. The extended warranty covers the replacement cost of the item up to the item’s full cost. The extended warranty will cover the product your purchased for up to one year after the manufacturer’s warranty of up to five years or less. That means that if your product came with a one year warranty, Amex would extend the warranty for one additional year if you paid for the item with your Amex credit card.
Are Payment Plans for iPhone or Peloton Covered by Amex Extended Warranty?
The short answer is YES. Items purchased through a payment or installment plan such as for an iPhone, Peloton, etc. are covered under the extended warranty policy.
According to page 7 of the Amex Extended Warranty Benefit Guide a claim made for purchases under an installment plan will be paid up to the:
- Total installment plan eligible payment, or
- The last remaining installment plan balance
The coverage applies as of the date of the covered event (the date your product was defective or stopped working). To determine your total purchase cost and/or maximum claim amount, Amex will add up the total of all the payments you made toward your item (assuming all payments were made using your eligible Amex credit card), and that total amount will be your maximum coverage limit. For example if you bought an iPhone with a $30/month payment plan that comes with a 1 year manufacturer warranty and the iPhone fails after a year like what happened with my iPhone X green line on screen defect, then if you filed an extended warranty claim Amex would cover up to $30 x 12 months = $360.
Some would ask, well the total cost of the iPhone was $1,000, so would Amex replace my phone even though I only paid off 1/3 of it? No, Amex will only reimburse you for up to the $360 you paid so far.
What Amex Cards Include Extended Warranty Benefits?
Most Amex cards offer an extended warranty benefit. Here is a full list of cards and their extended warranty coverage. Some of the cards that include extended warranty are:
- American Express Platinum, Gold Card
- American Express Delta Reserve, Platinum, Gold Cards
- American Express Hilton Aspire, Ascend, Regular
- American Express Marriott Bonvoy Brilliant, Regular
How Do I File an Amex Extended Warranty Claim?
To file a claim you must call 800-225-3750. Remember that proof of loss must be filed within 60 days.