American Express Premium Return Protection - as good as it sounds?

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snvyas
 
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American Express Premium Return Protection - as good as it sounds?

Postby snvyas » Thu Jan 27, 2011 2:37 pm

I just signed up for American Express Premium Return Protection after reading all the fine print. It will be immensely beneficial for me as I love getting the latest gadgets and then finding out after a couple of months that they weren't really as good as advertised. Of course most stores have a 30 day return policy so this seemed like a no brainer.

Anything I am missing or is this really as simple and good as it's made out to be?


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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Jan 31, 2011 12:50 am

I haven't heard of the AmEx Premium Return Protection. How long ago did it come out?
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
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alsteig
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Postby alsteig » Mon Jan 31, 2011 1:04 am

My guess is that they only allow this a finite amount of times in a set period, FINE PRINT, READ IT!

i_t_man
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Postby i_t_man » Mon Jan 31, 2011 3:58 pm

alsteig wrote:My guess is that they only allow this a finite amount of times in a set period, FINE PRINT, READ IT!


Exactly. I've been renting a lot of cars lately and I usually get a luxury car like a caddie or similar. The other day I was actually reading through the rental coverage info from Amex and realized they won't cover a car that costs over 50K, oops. There probably aren't many rentals over that amount but watch out.

my best wish
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Postby my best wish » Tue Feb 01, 2011 10:51 pm

Most credit cards that I have in my wallet will cover either twenty five or fifty thousand for an accident, max. That is an unreasonably low amount. What if both cars were totaled and you were at fault?

snvyas
 
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Postby snvyas » Wed Feb 02, 2011 4:12 pm

$600 per item (they pay for shipping up to $20) and max returns of $2500 per year. They came out with it November 2010 right before the Christmas holidays...

DoingHomework
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Postby DoingHomework » Fri Feb 04, 2011 3:20 pm

my best wish wrote:Most credit cards that I have in my wallet will cover either twenty five or fifty thousand for an accident, max. That is an unreasonably low amount. What if both cars were totaled and you were at fault?


First off, the coverage on all credit cards is secondary coverage. It only kicks in after your own car insurance.

If your car insurance does not cover an accident or if you have no insurance then the cc coverage will take effect.

You should also realize that the insurance offered by the credit card is usually NOT liability coverage. It does not cover damage you cause. It only covers damage to the rental car.

If you are renting a luxury car then I hope you are not such an idiot that you do not carry good liability coverage on your own car AND a personal umbrella policy. A million dollars in personal liability protection for everything you do will cost you about the same for the year as renting that caddy for a day! Don't be an idiot and think the coverage from your credit card is going to protect you in anything but a minor scrape or ding from a door in a parking lot.



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