Be leery of extended warranty offers

The holiday shopping season is just around the corner, prompting a warning to not get pressured into buying what you don't need.

One of those things is an extended warranty. It's pitched to a lot of buyers of such things as plasma televisions or hi-def camcorders.

Paul Eng with "Consumer Reports" said research done by several organizations shows those types of electronics are pretty reliable.

"The price that you'll pay for an extended warranty typically would be the same price that you would pay for any repairs that you'd have to make on an item anyway," Eng said. "Why give the retailer that extra money for a repair that you may not have to make?"

Eng added, "Even if they are as complex and pricey as plasma TVs, LCD TVs or any of the hi-def camcorders, our researchers tell us that generally these items are very reliable and they are not prone to breaking down."

In the current economy, Eng said if you buy an extended warranty from a company that ends up going under, it's just money down the drain.

If you're looking for peace of mind, Eng recommends, "Check your credit cards. A lot of credit cards -- like American Express, gold- or platinum-level Visa cards or Master Cards -- double the manufacturers warranty if you just use your cards to purchase and it's free service."