The best credit cards for purchase protection

Feb. 13, 2024

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17 min read

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Editor's Note

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The purchase protection benefit on select credit cards may help when an item you recently bought is damaged or stolen. Some cards may even offer protection if you lose a recently purchased item. However, only some cards offer purchase protection, and the coverage details vary.

Let's discuss the basics of credit card purchase protection and which cards offer the best coverage.

What is purchase protection?

The purchase protection benefit offered by select cards covers eligible purchases against accidental damage or theft — and, for some cards, loss — in the first few months after you use an eligible card to pay for the purchase. Some issuers also refer to this benefit as purchase security.

Purchase protection can reimburse you for repairing or replacing your item, assuming you paid with a card that provides purchase protection.

However, check the purchase protection terms on your specific card, especially regarding the time from the purchase date for which coverage is offered, the claim process, excluded items and the maximum coverage amount.

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)*	$50,000 per card per calendar year*	90*	At least 1 point per dollar on purchases	$325 (see rates and fees)
Ink Business Cash Credit Card	$10,000 per claim	$50,000 per account	120	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)*	$50,000 per card per calendar year*	90*	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	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
Chase Freedom Unlimited	$500 per claim	$50,000 per account	120	3% at drugstores At least 1.5% 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 (see rates and fees)

* 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

Many cards offer purchase protection, but here's a closer look at our favorite cards with this benefit.

American Express Gold Card

Earning rates:

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4 points per dollar at restaurants worldwide (on up to $50,000 spent per calendar year, then 1 point per dollar)
4 points per dollar on groceries at U.S. supermarkets (on up to $25,000 spent per calendar year, then 1 point per dollar)
3 points per dollar on flights booked directly with airlines or on amextravel.com
2 points per dollar on prepaid hotels and other eligible purchases on amextravel.com
1 point per dollar on other purchases

Maximum coverage per purchase protection claim: $10,000 per item ($500 per event related to a natural disaster)*

Maximum coverage per account for purchase protection: $50,000 per card per calendar year*

Coverage duration: 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.

With its $325 (see rates and fees) annual fee, the American Express Gold Card has one of the lowest annual fees of the American Express cards that offer purchase protection coverage of up to $10,000 per item (excluding natural disasters).

This is important because many cardholders believe American Express has the least painful claim process of any issuer.

Foodies often flock to this card due to its bonus-earning categories, monthly Uber Cash and monthly dining credit (terms apply, enrollment required for select benefits). You'll also get extended warranty coverage when you use your Amex Gold card for purchases. But the Amex Gold might not be the right fit if you want to earn more than 1 point per dollar spent on most purchases eligible for Amex purchase protection.

The American Express Gold Card currently offers a welcome bonus of 60,000 bonus points after spending $6,000 on purchases in the first six months of card membership.

Ink Business Cash Credit Card

Earning rates:

5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year (then 1% back)
5% cash back on Lyft rides through March 2025
2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year (then 1% back)
1% cash back on all other purchases

Maximum coverage per purchase protection claim: $10,000

Maximum coverage per account for purchase protection: $50,000

Coverage duration: 120 days

You'll get up to $10,000 per claim in purchase protection when you use your Ink Business Cash Credit Card for eligible purchases, which is spectacular considering the card doesn't carry an annual fee.

The Ink Cash Card is a great choice if you buy high-value items that are eligible for purchase protection at office supply stores, as you'll earn 5% cash back on purchases at office supply stores until you hit your anniversary year limit. You'll also get extended warranty protection when you use your Ink Business Cash for eligible purchases.

The Ink Business Cash Credit Card currently has a sign-up bonus of up to $750: earn $350 bonus cash back after you spend $3,000 on purchases in the first three months, and an additional $400 when you spend $6,000 on purchases in the first six months from account opening.

Blue Cash Everyday Card from American Express

Earning rates:

3% cash back on groceries at U.S. supermarkets (on up to $6,000 per calendar year in purchases, then 1%)
3% cash back on U.S. online retail purchases (on up to $6,000 per calendar year in purchases, then 1%)
3% on gas at U.S. gas stations (on up to $6,000 per calendar year in purchases, then 1%)
1% cash back on other purchases

Maximum coverage per purchase protection claim: $1,000 per item ($500 per event if related to a natural disaster)*

Maximum coverage per account for purchase protection: $50,000 per card per calendar year*

Coverage duration: 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.

Earning 3% in select spending categories up to a calendar year maximum is great, especially considering the Blue Cash Everyday Card from American Express has no annual fee (see rates and fees). But, you likely won't need purchase protection on most items you'll buy at U.S. supermarkets and U.S. gas stations.

This means that U.S. online retail purchases are the card's primary 3% cash-back category where you may benefit from purchase protection coverage.

The Blue Cash Everyday Card from American Express currently has a welcome offer of $200 back as a statement credit after you spend $2,000 in purchases on your new card within the first six months of card membership.

Chase Freedom Flex

Earning rates:

5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate and on travel purchased through the Chase Travel℠
3% cash back on dining at restaurants, including takeout and eligible delivery services, and drugstore purchases
1% cash back on all other purchases

Maximum coverage per purchase protection claim: $500

Maximum coverage per account for purchase protection: $50,000

Coverage duration: 120 days

The Chase Freedom Flex rotating bonus categories make the card an excellent choice for purchases that fit into its bonus categories.

With this no-annual-fee card, you'll also enjoy extended warranty coverage on eligible purchases. Plus, you can convert your Chase Freedom Flex earnings to Chase Ultimate Rewards points if you have an eligible card that earns Chase Ultimate Rewards points, such as the Chase Sapphire Reserve or Chase Sapphire Preferred Card.

The Chase Freedom Flex offers a sign-up bonus of $200 cash back after spending $500 on purchases in the first three months from account opening.

Chase Freedom Unlimited

Earning rates:

5% cash back on travel purchased through the Chase Travel portal
3% cash back on dining at restaurants, including takeout and eligible delivery services, and drugstore purchases
1.5% cash back on all other purchases

Maximum coverage per purchase protection claim: $500

Maximum coverage per account for purchase protection: $50,000

Coverage duration: 120 days

If you like the sound of the Chase Freedom Flex but don't like dealing with rotating bonus categories, the no-annual-fee Chase Freedom Unlimited might be a better option.

Best of all, the Chase Freedom Unlimited earns at least 1.5% cash back on all purchases. As such, it is a great card for shopping, which often doesn't earn bonus points with other cards.

The Chase Freedom Unlimited currently offers a sign-up bonus of an additional 1.5% on all purchases up to $20,000 spent in the first year. That's a value of up to $300 cash back.

Capital One Venture X Rewards Credit Card

Earning rates:

10 miles per dollar on hotels and rental cars booked through Capital One Travel
5 miles per dollar on flights booked through Capital One Travel
2 miles per dollar on all other purchases

Maximum coverage per claim: $10,000

Maximum coverage per account: $50,000

Coverage duration: 90 days from purchase

The Capital One Venture X Rewards Credit Card is an excellent everyday spending card. Since you'll earn at least 2 Capital One miles per dollar on all purchases and get extended warranty protection and return protection on eligible purchases, the Capital One Venture X is a good choice for shopping.

You'll enjoy a $300 annual credit for bookings through Capital One Travel and get 10,000 bonus miles every year starting on your first anniversary. These perks can effectively offset the card's $395 annual fee (see rates and fees).

The Capital One Venture X Rewards Credit Card has a sign-up bonus of 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening.

Other cards to consider for purchase protection benefits

The cards in this section weren't included in the list of best cards for purchase protection above because at least one card discussed above featured similar or better purchase protection with either a lower annual fee or better earning rate on categories where you'd most likely need purchase protection.

However, each card in the table below offers purchase protection benefits with a limit of $10,000 per item and a limit of $50,000 per year per card account (although Amex cards have a limit of $500 per event when related to a natural disaster*).

Card	Coverage duration (days)	Notable earning rate(s) for purchase protection	Annual fee
The Platinum Card® from American Express	90*	At least 1 point per dollar on purchases	$695 (see rates and fees)
Delta SkyMiles® Reserve American Express Card	90*	At least 1 mile per dollar on purchases	$650 (see rates and fees)
Marriott Bonvoy Brilliant® American Express® Card	90*	At least 2 points per dollar on purchases	$650 (see rates and fees)
Marriott Bonvoy Bevy™ American Express® Card	90*	At least 2 points per dollar on purchases	$250 (see rates and fees)
Ink Business Preferred Credit Card	120	At least 1 point per dollar on purchases	$95
Ink Business Unlimited Credit Card	120	At least 1.5% cash back on purchases	$0
United Explorer Card	120	At least 1 mile per dollar on purchases	$0 introductory annual fee for the first year, then $95
Chase Sapphire Reserve	120	At least 1 point per dollar on purchases	$550

* 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.

Other cards also offer purchase protection. So, you'll want to reference the guide to benefits for each card in your wallet to determine what types of coverage it offers.

You can see policies for retail and travel benefits on Amex's website, but you may need to log into your account to obtain the guide to benefits for cards issued by other banks. Call the number on the back of your card for help if you can't find the guide to benefits, as the agent can tell you about the benefits or send you a printed guide to benefits.

How purchase protection benefits differ

Not all purchase protection benefits are created equal. Credit card purchase protection benefits often differ in three main aspects:

Amount of coverage: Usually ranges from $500 to $10,000 per claim or incident, often with a cap of $50,000 per year per account (some events, such as natural disasters, may have a lower coverage cap)
Duration of coverage: Usually ranges from 90 to 120 days, although the exact date coverage begins varies across cards (and the duration of coverage may depend on the state in which you reside)
Exclusions: Purchases may be excluded due to the specific type or method of loss or damage

Exclusions tend to vary from card to card and issuer to issuer. But, some types of purchases often excluded include motorized vehicles and their parts, animals, living plants, perishable or consumable items, tickets, gift cards, antiques, jewelry and medical equipment.

Some types of loss or damage often excluded include natural disasters, hostilities, abuse, fraud, riots, illegal behavior, normal wear and tear, failure to adequately secure the item, items stolen from personal vehicles and damage from inherent product defects.

How to use purchase protection

Before making a significant purchase, know the benefits of each card you could use. Although this guide focuses on purchase protection, you should also consider benefits like return protection, price protection and extended warranty before making a large purchase.

If an item you purchased recently is damaged, stolen or lost, your first step should be to determine whether the card used to purchase the item offers purchase protection. Your next step should be to check the card's guide to benefit.

Doing so will let you determine if your item and its damage or loss may be covered by purchase protection. Call the number on the back of your card if you have any questions regarding eligibility, the documentation needed or the process required to file a claim.

When filing a claim, you'll usually need to submit original receipts and the card statement showing the purchase. You may need to submit a police report for stolen items. Likewise, you may need to provide a repair estimate and/or photos of damaged items.

Keeping damaged items until the claim is complete is a good idea. If your claim is successful, the card company will choose to replace, repair or reimburse you for your lost or damaged item.

Amex purchase protection

Some American Express cards offer purchase protection even when you lose a recently purchased item. So, forgetful consumers may want to put their purchases on one of the following cards that include lost items under the Amex purchase protection benefit:*

* 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.

Bottom line

Purchase protection is a valuable benefit that comes when you use select credit cards for purchases. However, you'll often need to weigh maximizing your earnings on a purchase and obtaining purchase protection (or other shopping protections) when you decide which card to use for a specific purchase.

I usually consider how expensive the item is and whether I expect to need shopping protections when determining the best card to use.

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.

Featured image by PEOPLEIMAGES/GETTY IMAGES

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.