Most fitness products come with a 1-year manufacturer warranty. If the product breaks within that first year, then great. Usually, a simple call to the company gets you a new replacement. However, as you and I know, this is not the case. They seem to always break a day after that warranty expires.
But I have good news for you. All you need to do is purchase your new bike trainer or fitness gadget with the right credit card.
Yesterday, I learned something I didn’t know about credit cards. The three major credit card payment networks offer an extended warranty at no cost. That’s right, as a cardholder, you get an extended warranty on most products you purchase using your Visa, Master Card, or American Express. Discover currently offer the same perk but set to expire for purchases made after February 18.
You will have to meet a list of requirements to qualify. Basically be ready to provide all receipts and a copy of the original manufacturer warranty. In most cases, as long as you meet these requirements, you will get a new replacement for that fitness watch, powermeter, or in our case, a new indoor bike trainer.
- AMERICAN EXPRESS: Doubles the manufacturer’s warranty up to 12 months. Applies to manufacturers warranties of 5 years or fewer. Covers repairs or replacement up to $10,000. Maximum annual benefit: $50,000
- VISA: Doubles the manufacturer’s warranty up to 12 months. Applies to manufacturer warranties of 3 years or fewer. Covers repairs or replacement up to $10,000. Maximum annual benefit: $50,000
- MASTERCARD: Doubles the original manufacturer’s or store brand warranty for up to one year. Covers repairs or replacement up to $10,000.
Some credit card companies offer more than the standard one year warranty. For example, some select Citi cards will add 24-months on your warranty. Even if you decide to purchase an extended warranty, their coverage begins at the expiration of that warranty.
Here is what their warranty looks like:
WHAT’S COVERED
To make things simple, your card won’t cover anything your original warranty didn’t. Things like accidental damage, normal wear and tear, catastrophes such as fire, flood damage, etc.
If your broken item qualifies for the extended warranty, your card payment provider will decide if they will repair or reimburse you for it and you might be asked to send the product back. So you might have to spend few days without your bike trainer.
The warranty examiner will decide if the product will be replaced or repaired, or whether you will be reimbursed with the full amount. Your maximum coverage per item is $10,000.
Among the possible exclusions: refurbished or secondhand items, software, cars, boats and any product you’re planning to hard-wire into your house, such as ceiling fans or doorbells. So a used or refurbished fitness product such as Wahoo’s refurbished KICKRs wouldn’t qualify. Something to consider when seeing a good deal on a refurbished or a used bike trainer.
HOW TO FILE A CLAIM
First, make sure your bike trainer – or any eligible product – is out of the manufacturer warranty. You should call your credit card immediately as soon as you see any defect. You will be asked to provide a list of items including:
- Card charge receipts
- Original store receipts
- Original manufacturers’ warranties, and any additional retailer’s warranty
- You may also be asked to obtain a repair estimate
Finally, the payment network examiner will decide whether to have the item repaired or replaced, or to reimburse you up to the amount charged to the Card. Extended Warranty does not reimburse for shipping and handling expenses.
So when dropping $1,700 on a bike trainer, make sure you check your credit cards and use the one with the best-extended warranty offer.
Hope you find this tip handy, and if you had to go through this warranty process, I would love to hear from you.
