Best credit cards for purchase protection

  • Joseph Hostetler

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    If you expect to purchase big-ticket items like computers, gaming systems, furniture or home appliances, it’s important to consider which card you’ll be swiping. Many of the best credit cards for travel earn bonus points just for making a large purchase — and some even come with useful purchase protection benefits, which can automatically provide you with an extended warranty.

    Also, keep in mind that now’s a great time to open a credit card if a large purchase is on the horizon. You can unlock a valuable cardmember welcome bonus by using the expense to meet minimum spending requirements. It’s a great way to jump-start your next vacation — welcome bonuses can potentially be worth thousands.

    I’ll explain the best credit cards for purchase protection, and explain their current welcome offers.

    Best credit cards for purchase protection 2020

    The information for the Chase Freedom card has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

    Purchasing a flat screen television? Use a card that offers automatic Extended Warranty Coverage to avoid headaches down the road. (Photo by withGod/Shutterstock)

    You don’t have to pay a dime to get extended warranty coverage or other purchase protection benefits when you use the right credit card. Keep in mind, the benefits you get vary by card, and there are exclusions. For example, credit card warranty benefits won’t apply if you’re purchasing a Tesla Cybertruck.

    Prior to buying a big-ticket item, I recommend reading the terms & conditions of your card’s coverage. This will give you an idea if your purchase is covered.  And it’ll let you know which paperwork to keep.  This typically includes:

    Also, if you have multiple credit cards, it’s a good idea to compare benefits between cards. For example, we wrote about the best cards to protect your smartphone purchase in case it’s lost, stolen, or damaged.  But when it comes to shopping for large purchases like electronics, securing extended warranty coverage with one card might be more useful than theft and damage protection with another card.

    Here are five great cards with purchase protection benefits.

    Chase Sapphire Preferred

    Best beginner credit card with purchase protection

    The Chase Sapphire Preferred comes with 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.

    If something you buy with your Chase Sapphire Preferred is ever victim of theft or damage within 120 days of purchase, you can have it repaired or replaced (up to $500). That’s a great benefit, though there are quite a few exclusions for which Chase won’t reimburse, such as motorized vehicles, pets, and used items.

    Also, when you buy certain products with a U.S. manufacturer’s warranty, you’ll get an additional year of warranty (only eligible for warranties of three years or less).

    $95

    Depending on the frequency of your travel, this card can save you a lot of money. It’s saved me well over $3,000 since I’ve had it on just travel protection. You can save hundreds and hundreds more if you know the best ways to use Chase points. Read our full Chase Sapphire Preferred review.

    Amex Platinum

    Best premium travel card with purchase protection

    With the Amex Platinum, you’ll earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership. We estimate Amex points value to be around 2 cents each. You shouldn’t have trouble receiving $2,000 in free travel from this bonus, especially if you choose to redeem your points via Amex transfer partners.

    This card gives you coverage up to 90 days from the date of your covered purchase. You can receive up to $10,000 per covered item, up to $50,000 per eligible card each year. You’ll also be covered in the event of a natural disaster, up to $500 per purchase protection covered event. As always, there are exceptions. Read your card benefits guide before you swipe.

    You’ll also be glad to know that the card extends the terms of any manufacturer’s warranty up to one additional year. This applies only to warranties of five years or less on covered purchases in the U.S. and its territories.

    $695 (see rates and fees)

    This card is for the frequent traveler. It’ll get you into airport lounges; it’ll spare you hundreds in airline incidental fees; it will enhance your five star hotel stay; it even waive your TSA PreCheck or Global Entry application fee (which costs up to $100). Not to mention that whopper of a welcome bonus. If you know the best ways to use Amex points, you could easily save $1,000+ the first year you have the card — even after paying the annual fee. Read our full American Express Platinum review.

    Shopping for a new refrigerator? With the Amex Business Platinum, you could get extended warranty coverage. (Photo by Igor Kardasov/Shutterstock)

    Ink Business Cash

    Best no annual fee business credit card with purchase protection

    The Ink Business Cash comes with a $500 cash back bonus (50,000 Chase Ultimate Rewards points) after spending $3,000 in purchases within the first three months from account opening. That’s a fantastic bonus for a card with no annual fee. You can even receive a substantially higher value for this bonus if you have one of the following cards:

    That’s because these cards allow you to transfer those rewards you earn with the Ink Business Cash to valuable Chase transfer partners. It’s possible to receive more than $1,000 from this bonus by transferring your points to Hyatt, Iberia, United Airlines, or many others.

    The Ink Business Cash provides protection against damage or theft for eligible items. There’s no added cost, and you’re covered as long as you purchase the item with the card. You’ll be covered on new purchases for 120 days, up to $10,000 per claim, and a maximum of $50,000 per account. There are specific time limits and documentation requirements.

    Imagine purchasing an expensive item, only to have it stolen a few days later.  If you purchased the eligible item with your Ink Business Cash Credit Card, you’ll at least have some consolation in the fact that you’ll be made whole since you’re covered up to the stated limits, which are really quite high!

    Plus, the card will extend the time period of a U.S. manufacturer’s warranty on eligible purchases with the card for an additional year. Eligible warranties are those of three years or less.

    $0

    This is one of the greatest no annual fee cards ever created. You’ll earn up to 5% cash back (5X Chase Ultimate Rewards points per dollar) on the first $25,000 spent in combined purchases at office supply stores and on phone, internet, and cable TV services each account anniversary year. If you make large purchases at these stores, you’ll rack up a ton of valuable Chase points while also receiving purchase protection. And the card’s bonus will net you at least $500 the first year you have the card. Read our full Ink Business Cash review.

    Amex Blue Cash Everyday

    Best cashback card with purchase protection

    The Amex Blue Cash Everyday comes with a $200 statement credit after you spend $2,000 in purchases on your new card within the first six months of card membership.

    With this card, you’ll receive up to 90 days of coverage from the date of your covered purchase. You’ll get up to $1,000 per covered purchase, and up to $50,000 per eligible card per year. In the event of a natural disaster, you are covered up to $500 per covered event.

    $0 (see rates and fees)

    This card offers:

    If those categories sound like you, it’s a fabulous card to have that’ll give you easy cash back (while protecting your purchases). You’ll get at least $200 in value from this card the first year. Read our full Amex Blue Cash Everyday review.

    Chase Freedom

    Best no annual fee personal credit card with purchase protection

    The Chase Freedom $150 bonus (15,000 Chase Ultimate Rewards points) after you spend $500 on purchases in the first three months from account opening

    Again, if you have one of the following cards, you can potentially receive a much higher return for your points:

    That’s because these cards give you the option to redeem those rewards with Chase transfer partners. You can use them for free Southwest flights, free nights with Marriott or Hyatt, and much more.

    The Chase Freedom offers protection against damage or theft for up to 120 days on new purchases, up to $500 per claim and $50,000 per account. This is quite a low threshold, so this card is best for smaller purchases that you want to insure.

    In addition, when you use the Chase Freedom to purchase an item, the card will extend the time period of a U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less. That lets you avoid purchasing additional warranties when making big-ticket purchases.

    $0

    This card’s special power is that it earns 5% cash back (5 Chase Ultimate Rewards points per dollar) every quarter on up to $1,500 in combined purchases in rotating bonus categories. That translates into as much as an additional $300 cash back or 30,000 Chase Ultimate Rewards points each year. The categories are often useful, like Amazon, grocery stores, gas stations, etc.

    You’ll be sure to receive $150 from this card the first year. Read our full Chase Freedom review.

    How we choose the best credit cards for purchase protection

    Welcome bonus

    Earning a healthy intro offer is by far the easiest and fastest way to begin traveling for free. Many cards will even offer big welcome bonuses that are worth many times over the cost of the annual fee.

    Ongoing earnings

    Many of these cards have significant bonus categories (up to 5x points earnings). Purchase protection is important, but wouldn’t it be nice to hoard points as well? 

    Flexibility and ease of redeeming rewards

    Having options when it comes to redeeming your rewards means you’ll be more likely to use them. The majority of these cards have points that can be transferred to airline and hotel partners for gigantic savings.

    Special perks

    Travel insurance, airport lounge access, monster bonus categories. Lots of cards have purchase protection and extended warranty benefits. We’re only looking at the exceptionally well-rounded cards that meet this criteria.

    How to use purchase protection

    You don’t have to register your card for purchase protection before making a purchase. Each card issuer’s guidelines can differ slightly, but as long as you made your purchase with your qualifying card, you should be covered.

    If an item you recently bought breaks or is stolen, your benefits guide will help you understand if that item was eligible for your credit card purchase protection. You can absolutely phone your card issuer and they’ll help you understand if your purchase qualifies, as well as any documents you’ll need to file your claim.

    Be sure to keep your damaged item and its receipt handy for the duration of your claim. Your card issuer may suggest you take photos and get a quote on repairing the item, and cards that offer secondary coverage may instruct you to first file a claim with your homeowners insurance. You could need that claim’s paperwork to complete your credit card claim.

    Your successful claim may come in the form of a mailed check for the full amount of your purchase, or even a statement credit on your qualifying credit card.

    Which American Express cards cover lost items?

    Cards that cover lost items are fewer, but Amex purchase protection comes through. The cards that cover lost items generally come with a higher annual fee, but if you’ll use the other perks of these cards, you’ll still make out like a bandit. Examples of such cards are:

    The information for the Hilton Aspire card has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

    Bottom line

    If you’re shopping for big-ticket items like electronics, I recommend paying with a card that offers purchase protection benefits:

    For example, when you pay for eligible items with the Amex Platinum card, you can get up to two years added to the original manufacturer’s warranty. If you buy a television with a four year warranty, you’ll get 6 years of warranty just by paying with your eligible Amex card.

    Be sure to read the terms & conditions of your card’s coverage. Then you can check for exclusions and confirm how long you have to file a claim.

    Be sure to subscribe to our newsletter for more credit card tips and tricks to save money — and keep your travel and purchases covered.

    For rates and fees of the Amex Platinum card, please click here

    For rates and fees of the Amex Blue Cash Everyday, please click here

    Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)
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