Credit cards have become an essential part of our financial lives, offering convenience and security when making purchases. But did you know that credit cards also offer a range of valuable protections? From travel insurance to purchase protection, credit cards provide peace of mind in various situations. One of the most useful benefits that credit cards offer is cellphone protection. With the increasing reliance on cellphones in our daily lives, the cost of repairing or replacing a damaged, lost, or stolen phone can be substantial. That’s where credit card cellphone protection comes into play.
Cellphone protection is a relatively new perk offered by many credit cards. While the specifics may vary from card to card, the coverage generally protects against major damage and theft. However, minor issues like scratched or cracked screens that don’t impact the phone’s performance may not be covered. Most policies provide coverage for up to $600 to $800 per claim, with a deductible ranging from $50 to $100. The number of claims allowed per 12-month period also varies, typically ranging from two to three.
To be eligible for cellphone protection, you usually need to pay your monthly cellphone bill using the credit card that offers the protection. Simply carrying a credit card with this benefit is not enough; you must consistently use it to pay your bill to maintain coverage. It’s crucial to set up autopay on your account with the specific credit card to ensure that your cellphone bill is automatically charged every month. This way, you won’t accidentally use a different card without coverage to pay your bill.
In addition to covering the primary cardholder’s phone, credit card cellphone protection often extends to any supplemental lines listed on the same account that you also pay for. However, it’s important to review your individual card’s guide to benefits to understand the coverage provided.
Now that we understand how credit card cellphone protection works, let’s explore some credit cards that offer this valuable benefit.
1. The Platinum Card® from American Express: Amex recently added cellphone protection as a benefit. When you pay your wireless bill with this card, you can file a claim for up to $800 per claim, with a $50 deductible. There is a limit of two claims per 12-month period.
2. Wells Fargo Active Cash® Card: This card provides cellphone protection against damage and theft when you pay your monthly cellphone bill with the Active Cash card. It offers up to $600 per claim after a $25 deductible, with a maximum of two paid claims per 12-month period.
3. Capital One Venture X Rewards Credit Card: To qualify for cellphone protection with this card, you must charge your monthly cellphone bill to the card for at least one month before your phone is stolen or damaged. It covers all lines on the bill, offering up to $800 per claim after a $50 deductible. The benefit is limited to two claims within 12 months.
4. Ink Business Preferred Credit Card: This small-business card provides protection against theft or damage, offering up to $1,000 per claim, with a $100 deductible. You can make up to three claims per 12-month period.
These are just a few examples of credit cards that offer cellphone protection. It’s essential to review the terms and conditions of each card to understand the specific benefits and limitations.
Considering the high cost of repairing or replacing a phone, having credit card cellphone protection can save you a significant amount of money. While other cards may offer more points for paying your cellphone bill, it’s wise to set up autopay for your cellphone plan with the card that provides the best cellphone protection benefits.
In conclusion, credit card cellphone protection is a valuable benefit that can help cover the cost of repairing or replacing a damaged, lost, or stolen phone. By understanding how this protection works and linking your credit card with cellphone protection to your mobile bill, you can ensure that you are eligible for reimbursement when you need it most. Take advantage of this benefit and enjoy the peace of mind that comes with knowing your phone is protected.
