Why I love Amex Purchase Protection!

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Cyberius
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Postby Cyberius » Tue May 15, 2012 12:47 pm

Joncore wrote:Its a good thing you guys are able to get online while sitting down, protesting on wallstreet. Down with capitalism! Yay entitlement!


Are you delusional? This process isn't screwing the seller or merchant in any way. This is a perk offered and subsidized by American Express. They offer it and stand behind their customer. This isn't entitlement at all.

Here, educate yourself. You get an extended warranty, too. Nice. Just one more reason I use Amex for nearly everything.

https://www212.americanexpress.com/dsmlive/dsm/int/pages/purchaseprotectiondetails.do?vgnextoid=ac0cbc0508bdf210VgnVCM40000037b3ad94RCRD

https://www212.americanexpress.com/dsmlive/dsm/dom/us/en/feefreeservices/faqs/purchaseprotection_ccsg_faq.do?vgnextoid=1a9f667b2eaed010VgnVCM20000012b3ad94RCRD&vgnextchannel=45122012dd5fd010VgnVCM10000084b3ad94RCRD&name=purchaseprotection_ccsg_faq&type=intfaq


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PlatinumAMEX94
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Postby PlatinumAMEX94 » Tue May 15, 2012 1:49 pm

Joncore wrote:Its a good thing you guys are able to get online while sitting down, protesting on wallstreet. Down with capitalism! Yay entitlement!



The merchant does not take a loss. American Express, the billion dollar company that they are, takes the loss, as they know it will continue to build customer loyalty. American Express collects billions in annual fees and billions in merchant charges. One little coach bag under $300 is not going to bankrupt them, but instead build even stronger loyalty for many years to come. Like MR points, a small cost to do business.
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Joncore
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Postby Joncore » Tue May 15, 2012 2:02 pm

PlatinumAMEX94 wrote:The merchant does not take a loss. American Express, the billion dollar company that they are, takes the loss, as they know it will continue to build customer loyalty. American Express collects billions in annual fees and billions in merchant charges. One little coach bag under $300 is not going to bankrupt them, but instead build even stronger loyalty for many years to come. Like MR points, a small cost to do business.


Then I will openly admit I was wrong here and apologize for the (although witty) insult. God bless amex ;)

Crashem
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Postby Crashem » Wed May 16, 2012 2:47 am

Wouldn't surprise me if outside insurance is used by Amex so direct loss to them, but oh those premiums
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FutureBillionaire
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Postby FutureBillionaire » Wed May 16, 2012 6:05 pm

Wow, this is nice. I'm going to have to take advantage of this for expensive purchases.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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Postby Crashem » Wed May 16, 2012 6:26 pm

Just used the purchase protection from Chase through my Palladium card. Lost my wallet this weekend. Realized my wallet was covered too. Was impressed by Chase's customer service. Called around 11pm PST and they had customer service open including someone with their insurance group available at that time of night.
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FutureBillionaire
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Postby FutureBillionaire » Wed May 16, 2012 6:32 pm

I'm going to use this for expensive purchases moving forward.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Wed May 16, 2012 6:57 pm

FutureBillionaire wrote:I'm going to use this for expensive purchases moving forward.


The 90 day warranty only applies to items $300 or less. It's not likely AmEx would easily reimburse your lost Piaget.
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PlatinumAMEX94
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Postby PlatinumAMEX94 » Wed May 16, 2012 8:14 pm

Joncore wrote:Then I will openly admit I was wrong here and apologize for the (although witty) insult. God bless amex ;)


Hakuna Matata. It means no worries.
American Express Platinum Personal, Member since 94
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American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

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PopiLopi
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Postby PopiLopi » Wed May 16, 2012 8:36 pm

PlatinumAMEX94 wrote:The 90 day warranty only applies to items $300 or less. It's not likely AmEx would easily reimburse your lost Piaget.


The purchase protection covers up to $1000 on regular cards and up to $10,000 on platinum and centurion, the limit of $300 is for return protection, that's another story ;)
Amex: Business Platinum (09/12) BCP $10,500 (03/13)
Visa: Capital One Journey $750 (04/11) Chase Freedom $1,800 (04/12)
MasterCard Citi AAdvantage Platinum Select $8,500 (05/13)
Discover: Discover It $2500 (07/11)
Store Cards: Amazon $3900 (12/11) Macy's $500 (04/11) Kohl's $500 (05/12) Victoria's Secret $750 (11/12)



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