Best Credit Cards with Cell Phone Insurance
At a Glance
Many credit cards are now offering the benefit of cell phone insurance, which can be a great added perk for cardholders that saves you hundreds of dollars should your phone get lost or broken. But not every credit card offers this protection, and not all insurance policies are the same. Let’s break down the best credit cards that have cell phone insurance, the details of what they’ll cover, and the things you’ll need to know.
In this article, you’ll learn:
Comparing the top credit cards with cell phone protection
| Credit Card | Card Protection Limits | Signup Bonus |
|---|---|---|
| The Platinum Card from American Express | Up to $800 to repair or replace a damaged or stolen phone when the bill is paid with the card; $50 deductible per claim; up to two claims per 12 months; terms apply. | Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. |
| Chase Freedom Flex | Up to $800 per claim and $1,000 per year for damage or theft; applies to phones listed on monthly statement paid with card; $50 deductible per claim; limit of two claims per 12 months. | Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. |
| Wells Fargo Active Cash Card | Up to $600 in secondary coverage in the event of damage or theft when you pay your monthly bill with the card; $25 deductible; limit of two claims per 12 months. | Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months |
| Capital One Venture X Rewards Credit Card | Must pay cell phone bill with card; up to $800 per claim for damage or theft; $50 deductible per claim; maximum of two claims per 12 months. | Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel. |
| Chase Ink Business Preferred Credit Card | Up to $600 per claim for damage or theft when bill is paid with card; $100 deductible per claim; limit of three claims and $1,800 in reimbursement per 12 months; coverage is secondary; employees are included if they are listed on the monthly bill. | Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®. |
A closer look at the best credit cards with phone insurance
The Platinum Card from American Express
Rewards rate: Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. 1X Membership Rewards® Points on other purchases. Terms Apply.
Annual fee: $695
Intro APR: N/A
Regular APR: 21.24% – 29.24%, variable
Signup bonus: Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first six months of Card Membership.
Our verdict: If you’re someone serious about travel and love the *plunk* sound of dropping a metal card down to pay, this is the card for you. Not only does it come with protection against damage and loss/theft, but maximizing the added perks can almost cancel out the hefty annual fee.
Pros:
- Extended warranty and return purchase protection
- $200 yearly Uber credit
- $240 yearly digital entertainment credit
- $155 Walmart+ yearly credit
- $200 Yearly airline credit
Cons:
- $695 annual fee
- Some perks are difficult to redeem fully
- Not accepted everywhere
Apply now: American Express Platinum Card
Chase Freedom Flex
Rewards rate:
- 5% cash back in quarterly bonus categories
- 5% on travel purchased through Chase Ultimate Rewards.
- Earn 3% on dining at restaurants, including takeout and eligible delivery services.
- 3% on drugstore purchases
- 1% on all other purchases
Annual fee: $0
Intro APR: 0% intro APR for 15 months from account opening on purchases and balance transfers
Regular APR: 20.49%–29.24%, variable
Signup bonus: Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening
Our verdict: Offering nearly the same protection as Amex’s Platinum and with a $0 annual fee, this card is an excellent choice for those who want a streamlined card that offers great cashback rates.
Pros:
- 5% cash back in quarterly bonus categories
- No annual fee
Cons:
- Rotating categories are hard to keep track of
- Requires you to opt in quarterly to get bonus rates
Apply now: Chase Freedom Flex
Learn more: Chase Freedom Flex Credit Card Review
Wells Fargo Active Cash® Card
Rewards rate: Earn unlimited 2% cash rewards on purchases
Annual fee: $0
Intro APR: 0% intro APR for 15 months
Regular APR: 20.24% – 29.99%, variable
Signup bonus: Earn a $200 cash rewards bonus when you spend $500 in purchases in the first three months
Our verdict: Want a simple no-fuss card? This is it. With no spending categories and an unlimited 2% cashback across the board, this card just makes life easy.
Pros:
- No annual fee
- No spending categories
- No spending caps
Cons:
- Competitor’s cards offer the same unlimited cashback but at higher rates
- Lower max for cell phone protection as compared to other cards
Apply now: Wells Fargo Active Cash® Card
Learn more: Wells Fargo Active Cash® Card Review
Capital One Venture X Rewards Credit Card
Rewards rate: Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel, Earn unlimited 2X miles on all other purchases.
Annual fee: $395
Intro APR: N/A
Regular APR: 21.99% – 28.99%, variable
Signup bonus: Earn 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening.
Our verdict: A high-earning card (if you use the Capital One portal), the Venture X takes travel perks seriously. Plus, with the addition of the new Capital One lounges popping up in select airports, this could be a future serious contender for a top-tier travel card.
Pros:
- $300 annual statement credit for travel books
- 10k mile annual bonus
- Capital One lounge access
- Generous sign-up bonus
Cons:
- $395 annual fee
- Perks and benefits aren’t as robust as similarly-priced cards
- Must use Capital One travel portal to access optimal earning rates
Apply now: Capital One Venture X Rewards Credit Card
Ink Business Preferred® Credit Card
Rewards rate: Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year, Earn 1 point per $1 on all other purchases – with no limit to the amount you can earn
Annual fee: $95
Intro APR: N/A
Regular APR: 21.24% – 26.24% variable
Signup bonus: Earn 100k bonus points after you spend $8,000 on purchases in the first three months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®.
Our verdict: One of the best credit cards for business owners who want to protect their, and their employees’, work phones, the Ink Business Preferred credit card is hard to beat.
Pros:
- High earning rate on popular categories
- Lots of transfer partners
- Excellent signup bonus
Cons:
- $95 annual fee
- For businesses, not consumers
- Not all bonus categories will work for all businesses
Apply now: Ink Business Preferred® Credit Card
What to know about credit cards with cell phone insurance
If you’re in the market for a new credit card and you’re someone who relies heavily on your cell phone, then you might want to consider getting a credit card with cell phone insurance. These types of credit cards offer added protection for your beloved device in case of loss, theft, or damage. It’s always a good idea to know what you’re getting into before signing up for any credit card, so here are a few things to keep in mind.
First and foremost, not all credit cards offer cell phone insurance, so make sure to do your research and find one that does. Secondly, there may be certain limitations and exclusions to the coverage, so read the fine print carefully. Lastly, it’s important to understand the claims process and what documentation you may need to provide to file a claim.
How does cell phone protection work?
Cell phone protection offered by credit cards typically works by reimbursing you for the cost of repairing or replacing your damaged or stolen phone. The coverage usually extends to both the primary cardholder and authorized users on the account.
To be eligible for the protection, you usually need to pay your monthly cell phone bill using the credit card that offers the insurance. Some cards may require you to pay the full cost of the phone with the card, while others may have different requirements.
If your phone is lost, stolen, or accidentally damaged, you will need to file a claim with the credit card company. This often involves providing documentation such as a police report, proof of ownership, and repair or replacement receipts. The specific claims process and required documentation may vary depending on the credit card issuer.
It’s important to note that there are usually limits to the coverage, such as a maximum reimbursement amount per claim and a maximum number of claims allowed per year. Additionally, certain types of damage or loss may be excluded from coverage, so it’s important to carefully review the terms and conditions of the insurance policy.
Cell phone protection vs. purchase protection
Many premium credit cards will offer both cell phone protection and purchase protection for cardholders, but it’s important to understand the differences between the two so you know which insurance will work best for your situation.
Cell phone protection will cover the cost of replacing or repairing your phone (depending on your cardholder agreement) if it’s damaged, lost, or stolen. To activate this benefit, you’ll need to pay your monthly plan with the credit card.
Purchase protection will typically extend the warranty or return period for things you’ve purchased with your credit card. Most protection benefits require the item to be new or certified refurbished; used or secondhand items typically won’t qualify.
Are credit cards with cell phone insurance worth it?
Credit cards that offer cell phone insurance can be an awesome card to keep with you, but there are some stipulations you need to be aware of:
- Most policies will require you to pay your monthly bill with the card. Unfortunately, it seems that yearly pre-paid contracts won’t qualify for this type of protection.
- Many phone companies are making it difficult to pay with credit cards, forcing users to either pay via ACH withdrawal from their checking or savings accounts or charge a fee to pay via CC. You’ll need to weigh the benefit of the insurance over the additional costs to use your card if you’re able to use it at all.
- You’ll still most likely need to pay a deductible to use your insurance. Each policy’s deductible varies, so check your cardholder agreement for specifics.
- Most credit cards that offer this benefit will charge an annual fee for the card.
Methodology
The methodology used to calculate the best cards for cell phone insurance relied on several factors, with the most prominent of those being:
- The required credit score to apply successfully for the card
- The additional benefits offered by the card beyond rewards
- The reward rate of the card, if applicable
- Overall difficulty in securing a credit card with fair credit
- The history of the card issuer itself
- Any potential costs associated with owning a credit card
The product information provided here is based on research conducted up to a specific date and may have changed. For the latest and most accurate information, we recommend you to visit the respective card’s website before proceeding.
FAQs
To find out if your credit card offers cell phone protection, you can check the terms and conditions of your cardholder agreement. Look for any information regarding cell phone insurance or protection benefits. You can also contact your credit card issuer directly and ask them if your card includes this benefit.
The specific phones covered by credit card cell phone insurance will vary depending on the credit card issuer and the terms of the insurance policy. Generally, most credit card cell phone insurance policies will cover a wide range of smartphones, including popular brands such as Apple iPhones, Samsung Galaxy phones, Google Pixel phones, and more. However, it’s important to review the terms and conditions of your credit card’s cell phone insurance policy to determine exactly which phones are covered.
Secondary cell phone coverage from a credit card refers to a type of insurance coverage that kicks in after you have exhausted any primary insurance you may have for your cell phone. This means that if you already have cell phone insurance through another provider, such as your phone carrier or a separate insurance policy, the secondary coverage from your credit card will provide additional protection or fill in any gaps in coverage. It’s important to note that secondary coverage typically requires you to file a claim with your primary insurance first before you can utilize the coverage from your credit card.
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