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Which credit cards offer purchase protection?

Which credit cards offer purchase protection?

*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Jan 29, 2019, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

When you buy an expensive item such as a laptop, the last thing you want to worry about is if it gets stolen or damaged. The costs involved to repair or replace it can be costly, especially if it isn’t covered by a warranty or insurance. However, select credit cards may provide coverage in these situations via purchase protection. This benefit comes at no additional cost and can be a cost-efficient and helpful alternative to purchasing individual insurance for items.

If an item you bought becomes stolen or damaged, purchase protection may provide repair, replacement or reimbursement up to the cost of the item if you make the purchase on the card offering purchase protection. Just know, coverage is secondary to any existing insurance you have, such as homeowners insurance or warranties. The maximum coverage amounts and restrictions differ by card issuer, so you should familiarize yourself with the exact terms prior to filing a claim.

Here, we’ll review the purchase protection terms provided by major issuers, exclusions, and how to file a claim.

Purchase protection by issuer

Some card issuers cut back on purchase protection benefits last year, and some, like Discover, removed the benefit altogether. However, there are still some cards that offer this perk. If this is a benefit you’re interested in, consider cards from the issuers mentioned below. Just know, the protection differs by issuer and may change or be discontinued at anytime. Therefore, it’s not recommended to choose a card solely based on the prospect of purchase protection.

Here are the purchase protection terms for major card issuers:

Issuer Maximum coverage per item Maximum coverage per calendar year per account Return window
American Express $1,000

$10,000 for select cardholders (The Platinum Card® from American Express, Delta Reserve® Credit Card from American Express, American Express® Gold Card, and The American Express® Gold Card for Ameriprise Financial)

$50,000 Within 120 days of purchase
Bank of America $500

$10,000 for Bank of America® Premium Rewards® credit card and Merrill-branded cardholders

Not specified Within 90 days of purchase
Barclays $1,000 $50,000 Within 90 days of purchase and only available on World and World Elite cards
Capital One $500 for Visa Signature cards

$10,000 for Visa Professional and Business cards

$50,000 Within 90 days of purchase and only available on Visa Signature, Professional and Business cards
Chase $500

$10,000 for the Chase Sapphire Reserve®, United-branded cards, and business cards

$50,000 Within 120 days of purchase
Citi $1,000 for core cards (Citi® Double Cash Card – 18 month BT offer)

$10,000 for travel cards (Citi Premier℠ Card) and elite cards (Citi Prestige® Credit Card*)

$50,000 Within 90 days of purchase

 

Popular American Express cards with purchase protection:

  • 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.*

  • Up to $200 per calendar year in baggage fees & more at one qualifying airline*

  • No foreign transaction fees & exclusive airport lounge access*

Highlights
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees

See additional details for The Platinum Card® from American Express

More Info

  • $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.*

  • NEW 6% Cash Back on select U.S. streaming subscriptions & 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.

  • 1% back on other purchases*

Highlights
  • Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • NEW 6% Cash Back on select U.S. streaming subscriptions.
  • NEW 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 3% Cash Back at U.S. gas stations. 1% Cash Back on other purchases.
  • You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018.
  • Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 14.99% to 25.99%
  • $95 annual fee.
  • Terms Apply.
  • See Rates & Fees

See additional details for Blue Cash Preferred® Card from American Express

More Info

Popular Bank of America cards with purchase protection:

  • 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases.

  • $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening

  • Redeem rewards for cash back or apply them to your bank account

Highlights
  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening – with no annual fee and cash rewards don't expire.
  • Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases.
  • You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
  • Get 75% more cash back on every purchase when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.

See additional details for Bank of America® Business Advantage Cash Rewards Mastercard® credit card

More Info

  • Earn unlimited 1.5 points per $1 spent on all purchases

  • 0% Introductory APR on purchases for 12 billing cycles

  • 17.24% - 25.24% Variable APR on purchases and balance transfers

Highlights
  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire
  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
  • Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions
  • Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
  • Comes with chip technology for enhanced security and protection at chip-enabled terminals
  • 0% Introductory APR for 12 billing cycles for purchases. After the intro APR ends, 17.24% - 25.24% Variable APR will apply
  • If you’re a Preferred Rewards member, you can earn 25% - 75% more points on every purchase

See additional details for Bank of America® Travel Rewards credit card

More Info

  • 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening.

  • 2 points for every $1 spent on travel and dining purchases, 1.5 points per $1 spent on all other purchases

  • Get up to $200 in combined airline incidental and airport expedited screening statement credits

Highlights
  • Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
  • If you’re a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • No limit to the points you can earn and your points don’t expire
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill accounts, or gift cards or purchases at the Bank of America Travel Center
  • Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
  • No Foreign Transaction Fees
  • Low $95 annual fee

See additional details for Bank of America® Premium Rewards® credit card

More Info

Popular Barclays card with purchase protection:

Barclaycard Arrival Plus® World Elite Mastercard®

Popular Capital One cards with purchase protection:

  • 2% Cash Back for your business on every purchase, everywhere

  • Earn a $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening

  • Redeem cash back for any amount at any time

Highlights
  • Earn unlimited 2% cash back for your business on every purchase, everywhere
  • Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • $0 annual fee for the first year; $95 after that
  • $0 Fraud Liability if your card is lost or stolen
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount

See additional details for Capital One® Spark® Cash for Business

More Info

  • Unlimited 1.5% cash back

  • One-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening

  • Redeem cash back for any amount at any time

Highlights
  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 15.24% - 23.24% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend

See additional details for Capital One® Spark® Cash Select for Business

More Info

  • Unlimited 2x miles per dollar

  • Earn a one-time bonus of 50,000 miles once you spend $4,500 on purchases within 3 months from account opening

  • Redeem miles with any airline and any hotel

Highlights
  • Earn unlimited 2 miles per $1 on every purchase, everywhere
  • Earn a one-time bonus of 50,000 miles - equal to $500 in travel - once you spend $4,500 on purchases within the first 3 months from account opening
  • Receive up to $100 credit for one Global Entry or TSA Pre✓® application fee
  • Fly on any airline, anytime, with no blackout dates or seat restrictions
  • $0 intro annual fee for the first year; $95 after that
  • $0 fraud liability if your card is lost or stolen
  • Free employee cards which also earn unlimited 2x miles from their purchases
  • No foreign transaction fees

See additional details for Capital One® Spark® Miles for Business

More Info

Popular Chase cards with purchase protection:

  • 60,000 bonus points

  • 2X points on travel and dining

  • 1:1 point transfer to leading airline and hotel loyalty programs

Highlights
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel

See additional details for Chase Sapphire Preferred® Card

More Info

Popular Citi cards with purchase protection:

  • Earn 3X Points on Travel, Including Gas Stations, Earn 2X Points on Dining Out & Entertainment, Earn 1X Points on All Other Purchases

  • Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening

  • No Foreign Transaction Fees*

Highlights
  • Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening
  • Earn 3 points per $1 spent on travel including gas stations
  • Earn 2 points per $1 spent at restaurants and on entertainment
  • Earn 1 point per $1 spent on all other purchases
  • 60,000 Points are redeemable for $750 in airfare on any airline, anytime with no blackout dates when booked through the ThankYou® Travel Center, or $600 in gift cards when redeemed at thankyou.com
  • No expiration and no limit to the amount of points you can earn with this card
  • Points Transfer allows you to transfer points to participating airline loyalty programs
  • No Foreign Transaction Fees on purchases

See additional details for Citi Premier℠ Card

More Info

  • 0%* for 12 months on Purchases*

  • 0%* for 21 months on Balance Transfers*

  • 16.74% - 26.74%* (Variable)

Highlights
  • No Late Fees, No Penalty Rate, and No Annual Fee... Ever
  • 0% Intro APR on balance transfers for 21 months from date of first transfer. All transfers must be completed in first 4 months. After that, the variable APR will be 16.74% - 26.74%, based on your creditworthiness
  • 0% Intro APR on purchases for 12 months from date of account opening. After that, the variable APR will be 16.74% - 26.74%, based on your creditworthiness
  • If you transfer a balance with this offer, after your 0% Intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balances, are paid in full
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day – just say "representative"
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month

See additional details for Citi Simplicity® Card - No Late Fees Ever

More Info

What are the exclusions?

In addition to setting maximum coverage amounts and return windows, shipping and handling costs are typically excluded from reimbursement. And, purchase protection doesn’t cover everything you buy with your card. However, many items that are excluded aren’t things you’d typically return, such as animals and living plants.

Here are the common items that don’t qualify for purchase protection:

  • Motorized vehicles (cars, boats, motorcycles) and their attached parts (including tires)
  • Collectible, one-of-a-kind, custom-built, and limited edition items (antiques, coins, furs, art, sports memorabilia, stamps, for example)
  • Computer software
  • Cash (including rare or precious coins), gift cards, checks, promissory notes or any other financial document that represents money
  • Items that can spoil or are consumable and need to be replaced after they have been used for a period of time (food, fuel, batteries, medications, beauty products or personal care products)
  • Animals
  • Living plants
  • Permanent household fixtures
  • Items rented, leased or borrowed
  • Business fixtures (air conditioners, refrigerators, heaters)
  • Hospital, medical and dental equipment and devices

In addition to excluded items, certain types of damage are often excluded:

  • Normal wear and tear
  • Fraud, abuse or illegal activity
  • Item not reasonably secured
  • Product defect

How to file a claim

Purchase protection claims can be filed one of several ways: by calling your card issuer, submitting a claim form online, or mailing a claim form. When you file a claim, you’ll typically need your purchase receipt, proof of theft or damage, the damaged item (if applicable), and any additional documents your card issuer may request. Listed below are ways to get the process going with the major card issuers:

Can I keep the item after I file a claim?

Most likely not — if your item was damaged, your card issuer may require you to mail the eligible item to a warehouse where it’ll be inspected. In some cases, you may be reimbursed for the shipping cost to mail the item to the warehouse.

Read our guides on price protectionreturn protection and extended warranty protection.

*The information related to the Citi Prestige® Credit Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication.


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