Purchase protection is an often overlooked benefit on select credit cards. It can be very handy if you buy an item that is later damaged or stolen. Not every credit card offers purchase protection, and the coverage details and restrictions greatly differ.
Let’s dive into the basics of credit card protection and see which cards offer the best coverage.
What is purchase protection?
A purchase protection benefit through select credit cards covers eligible purchases against accidental damage, theft and, in some instances, loss. Of course, it’s only valid for a certain time period between the date of purchase and the incident.
Reimbursement as part of this benefit can include repairing or replacing the affected item, as long as the item was paid for with a card that provides purchase protection.
Purchase protection terms are unique to each card, especially the claims process, maximum benefit amount, annual limit and time from the purchase date when coverage is provided.
Related: The best rewards credit cards for each bonus category
Comparing the best cards for purchase protection
| Card | Maximum coverage amount per claim | Maximum coverage amount per account | Coverage duration (days) | Notable earning rate(s) for purchase protection | Annual fee |
|---|---|---|---|---|---|
| American Express® Gold Card | $10,000 per item ($500 per event for natural disasters)* | up to $50,000 per card per calendar year* | up to 90* | At least 1 point per dollar on purchases | $325 (see rates and fees) |
| Ink Business Cash® Credit Card (see rates and fees) | $10,000 per claim | $50,000 per account | 120 | Earn 5% cash back at office supply stores and internet, cable and phone services (on up to $25,000 of purchases per account anniversary year, then 1%)
At least 1% back on other purchases |
$0 |
| Blue Cash Everyday® Card from American Express | $1,000 per item (or $500 per event for natural disasters)* | up to $50,000 per card per calendar year* | up to 90* | Earn 3% cash back on U.S. online retail purchases (on up to $6,000 per calendar year in purchases for each category, then 1%)
At least 1% cash back on other purchases |
$0 (see rates and fees) |
| Chase Freedom Flex® | $500 per claim | $50,000 per account | 120 (90 days for New York residents) | 5% cash back on up to $1,500 in combined purchases in rotating bonus categories each quarter (requires activation)
3% at drugstores At least 1% back on other purchases |
$0 |
| Capital One Venture X Rewards Credit Card | $10,000 per claim | $50,000 per cardholder | 90 | At least 2 miles per dollar on purchases | $395 |
* Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.
The information for the Chase Freedom Flex has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The best cards for purchase protection
Here’s a closer look at the top cards that offer purchase protection.
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American Express Gold Card
Maximum coverage per purchase protection claim: Up to $10,000 per item ($500 per event related to a natural disaster)*
Maximum coverage per account for purchase protection: Up to $50,000 per card per calendar year*
Coverage duration: Up to 90 days from purchase*
* Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.
The American Express Gold Card has a substantial annual fee of $325 but provides generous purchase protection covering up to $10,000 per item (lower for natural disasters).
Online data points reveal that American Express has one of the simpler claim processes compared to other issuers. But because your purchase usually falls within the card’s ‘other purchases’ category, you’ll only earn 1 point per dollar.
For more details, see our full review of the Amex Gold.
Apply here: American Express Gold Card
Ink Business Cash Credit Card
Maximum coverage per purchase protection claim: $10,000 per item
Maximum coverage per account for purchase protection: $50,000
Coverage duration: 120 days
For a card with no annual fee, the Ink Business Cash offers phenomenal coverage up to $10,000 per claim in purchase protection on eligible purchases, with a $50,000 limit per account.
This is especially useful for business owners who may purchase high-value items, including from office supply stores. They’ll earn 5% cash back on purchases up to the anniversary limit. For example, a coffee shop’s espresso machine can easily cost over $10,000 and if the purchase is made using the Ink Business Cash, a business owner will be covered against damage and theft. Other Ink cards from Chase provide similar coverage and limits.
For more details, see our full review of the Ink Business Cash.
Apply here: Ink Business Cash
Blue Cash Everyday Card from American Express
Maximum coverage per purchase protection claim:Up to $1,000 per item ($500 per event if related to a natural disaster)*
Maximum coverage per account for purchase protection:Up to $50,000 per card per calendar year*
Coverage duration: Up to 90 days from purchase*
* Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.
The Blue Cash Everyday Card from American Express earns an impressive 3% cash back on U.S. online retail purchases and, best of all, has no annual fee.
Whether you’re buying a new TV, couch or washer, you can rest assured that your purchases will be covered up to $1,000 per item and up to $50,000 per calendar year.
For more details, see our full review of the Amex Blue Cash Everyday.
Apply here: Blue Cash Everyday Card from American Express
Chase Freedom Flex
Maximum coverage per purchase protection claim: $500
Maximum coverage per account for purchase protection: $50,000
Coverage duration: 120 days (90 days for New York residents)
The Chase Freedom Flex and its rotating bonus categories each quarter make this card an excellent choice for purchases that fall within those categories. Categories often include Amazon and PayPal, which means having the Freedom Flex in your wallet is a great addition if you’re looking to cover a wide variety of purchases. The one downside to the card is its maximum coverage per item of only $500.
If you’re a cardholder of the Chase Freedom Unlimited® (see rates and fees), you’ll receive the same purchase protection coverage. The main difference is that the card earns 1.5% cash back on all nonbonus category spending, so it’s a good option to put your large purchases on the card and rack up cash back.
If you hold another eligible Chase travel card, you can convert your cash back into Chase Ultimate Rewards points for travel.
For more details, see our full review of the Chase Freedom Flex.
Capital One Venture X Rewards Credit Card
Maximum coverage per claim: $10,000 per claim
Maximum coverage per account: $50,000 per cardholder
Coverage duration: 90 days from purchase
The Capital One Venture X Rewards Credit Card is an excellent pick for anyone seeking a simple, hassle-free way to earn rewards on everyday spending.
With a flat rate of 2 miles per dollar on most purchases, it’s ideal for expenses that don’t fall into traditional bonus categories. Plus, you’ll enjoy added peace of mind thanks to the card’s built-in purchase protection.
For more details, see our full review of the Venture X.
Learn more: Capital One Venture X
Other cards to consider for purchase protection benefits
The cards listed below are examples of premium cards that have similar purchase protections, whereas the cards listed above either have a lower annual fee or better earning rates in key categories where this protection would be useful.
These cards offer purchase protection with a limit of up to $10,000 per item and a limit of $50,000 per year per card account (Amex cards have a limit of $500 per event for natural disaster-related events*).
* Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.
The list above is by no means exhaustive of all cards that provide purchase protection. Before applying for a new card, you’ll want to reference the benefits guide for each card to see what types of coverage it offers.
Visit this website to see which Amex cards provide purchase protection. Existing Chase cardholders can visit this website, input their card number and receive their guide to benefits. For other cards in your wallet, it’s best to call the number on the back of your card and ask a representative to tell you about a card’s benefits or to share a copy of the guide to benefits.
How purchase protection benefits differ
Credit card purchase protections differ in the following three ways:
- Coverage amount: This can range from $500 to $10,000 per claim, usually with an annual limit of $50,000 per account each year (natural disaster events can have lower coverage limits).
- Coverage duration: This ranges from 90 to 120 days, and the exact date for the coverage beginning varies across cards (depending on the state, the coverage may be lower).
- Exclusions: Certain types of purchases may be excluded due to the type of item or the method in which loss or damage occurs.
Items not covered by purchase protection differ from card to card and issuer. Examples of excluded types of purchases are animals, cars and jewelry.
Related: How an often overlooked credit card benefit put $1,400 back in my wallet
How to use purchase protection
If a recently purchased item is lost, stolen or damaged, first assess whether the card used provides purchase protection. Then, check the guide to benefits to understand any exclusions and any monetary limits.
Be sure to have as much documentation as possible, including receipts and a copy of your statement with the purchase indicated on it. Whenever I purchase a new item, I take photos and videos of the item as additional documentation. So, if the item is damaged, lost or stolen, I have proof of its condition.
If filing a claim for a stolen item, you may need to submit additional paperwork such as a police report. If you’re seeking a repair or replacement, provide an estimate of that cost to substantiate your claim.
Above all, I would stress the importance of keeping a damaged item until the claim is complete and paid out to avoid any complications.
Bottom line
Purchase protection is a useful perk to have in your back pocket, and hopefully one you have to seldom use. Not all credit cards offer purchase protection, so if you’re looking to make big purchases and want peace of mind, consider the cards covered above.
Ideally, you want a card that provides you maximum rewards for your purchases but also purchase protection with a high limit per incident. Personally, I weigh the item’s value against which card offers the strongest protection, rather than just chasing extra rewards.
For rates and fees of the Amex Gold Card, click here.
For rates and fees of the Blue Cash Everyday, click here.
For rates and fees of the Amex Platinum Card, click here
For rates and fees of the Delta Reserve, click here
For rates and fees of the Marriott Brilliant, click here
For rates and fees of the Marriott Bevy, click here
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.