The best credit cards for purchase protection
Editor's Note
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 |
|---|---|---|---|---|---|
$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) | |
$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 | |
$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) | |
$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 | |
$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 best cards for purchase protection
Here's a closer look at the top cards that offer purchase protection.
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*).
| Card | Coverage duration (days) | Notable earning rate(s) for purchase protection | Annual fee |
|---|---|---|---|
90* | At least 1 point per dollar on purchases | $895 (see rates and fees) | |
120 | At least 1 point per dollar on purchases | $95 | |
120 | At least 1 point per dollar on purchases | $795 |
* 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 Ink Business Preferred 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 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 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.
TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.