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Purchase warranties: the « little plus » of your credit card



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(Picture : ING Luxembourg) 

It's no secret that the post-confinement period and the approaching summer sales will cause customers to return to stores that have had to close their doors for more than two months. And online commerce will certainly not be outdone, which has experienced a nice upturn during the entire period of confinement. But before you make any purchases that you have had to postpone as a result of the coronavirus crisis, don't forget to take your credit card with you. It is much more useful than you might think. 

Did you know it? Your credit card - and especially Visa, one of the most used credit cards in the Grand Duchy of Luxembourg - does not only give you a credit line and the freedom when to repay to make managing your budget easier. It also provides you various warranties that secure most of your purchases, whether online or offline.

Extended warranty

In general, when you buy a domestic appliance, hi-fi or computer product in a store, it is warranted for 24 months by the manufacturer itself or by the store. If the device is defective or breaks down, it will be repaired free of charge, replaced or refunded. Sellers often offer you to extend the warranty to one or two years by taking out a contract, but not for free this time. Buying this warranty extension is no longer necessary, as it is now included in your Visa card. If you use it to pay the total purchase price of new domestic electrical appliances (refrigerator, dishwasher, etc.), consumer electronics (TV, MP3 player, etc.) or communication or computing items (smartphone, laptop, etc.), the warranty will be extended for free to an additional period of two years.

In order to benefit from this warranty extension, several conditions must be met. The main ones are that the item must be new and only be used for private use, its minimum purchase value is € 50 (including VAT) and the original warranty provided by the manufacturer or distributor is not shorter or longer than 24 months.

Purchase protection insurance

You have bought a new good for private use with a minimum value of € 50 (including VAT) but it was accidentally damaged or stolen through a break or with assault? You do not have to worry if you paid it completely with your Visa card. You will be refunded the purchase price in case of aggravated theft or the repair costs in case of accidental damage. The warranty is valid for all types of movable assets as long as they do not fall in the following categories: jewels, fur, living animals, plants, perishable goods or drinks, transport tickets and motored vehicles. 

A time limit is also imposed: the aggravated theft or accidental damage must occur within 30 days, starting on the day of purchase or on the day of delivery of the insured good.

Internet delivery insurance

And icing on the cake, a warranty also applies in the event that a problem occurs during the delivery of goods bought on the Internet.  If you paid online with your Visa card the total purchase price of an item from a merchant for a minimum value of € 50 (including VAT), you will be refunded in the two following cases. The item has not been delivered within 30 calendar days after the debit of the order appearing on your bank statement (non-delivery). The item does not correspond to the factory or the distribution reference indicated on the order slip or is delivered with a failure preventing its proper functioning, is broken or incomplete (non-compliant delivery).  

Are excluded from the cover living animals, perishable goods and food, drinks, plants, motorized vehicles, jewels or valuables with a value exceeding € 150 and numerical data displayed or downloaded on the Internet (MP3 files, photos, software, etc.).

Good to know

Depending on the type of credit card you choose, the insured limits may be higher and the duration of the purchase protection insurance longer (from 30 to 90 days), and you can also benefit from other advantages such as travel insurance and assistance (e.g. Visa Classic & Assistance and Visa Gold)[1]. To find the credit card that suits you best, consult our comparison table.

[1] For more information about travel insurance and credit cards, read our article Does your credit card have travel insurance?