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Rewards credit cards offer plenty of exciting perks, from airport lounge access to bonus points on your top spending categories to annual statement credits for travel. Some of these cards also offer benefits that, while not as glamorous, can help you save money or get a refund for certain products.
Purchase protection is one such credit card feature that protects consumers when they buy eligible products with their cards. This coverage allows you to receive reimbursement if a product is stolen or damaged in most cases, although the amount of coverage can vary. Coverage can easily be worth up to $1,000 per item, although annual caps of up to $50,000 can also apply.
For example, let’s say you buy a laptop computer for $900 and pay with a credit card that offers purchase protection. If your laptop is stolen from your car or damaged during your credit card’s purchase protection coverage window, you could be reimbursed — with the amount depending on the specifics of your card’s coverage.
Most credit cards that offer purchase protection offer coverage for 90 to 120 days after you make a purchase, and the coverage amount may vary depending on the state in which you live.
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Compare the best credit cards for purchase protection
The best credit cards for purchase protection reviews
Best for all-around purchase protection: Chase Sapphire Reserve®
The Chase Sapphire Reserve® already makes our list as the best all-around credit card for travel insurance for a few reasons, including that its reimbursement amounts are higher than most other cards. It also gives you purchase protection for a larger window than many other competitors. Plus, it comes with both extended warranty protection and return protection.
Here’s what you’ll get:
If you buy an eligible item with the card and it’s damaged or stolen within 120 days of purchase, you can receive up to $10,000 per claim (up to $50,000 per account)If an eligible item has a US manufacturer’s warranty of three years or less, this card will extend it by one yearIf you decide to return an item within 90 days of the purchase date and the store denies your return, Chase will reimburse you up to $500 per item (up to $1,000 per account)
Beyond these features, the card comes with Chase Sapphire Reserve®. That’s worth an average of Chase Sapphire Reserve® in travel, per Insider’s valuation of Chase points.
The card also comes with top-tier travel insurance and valuable benefits such as:
Up to $300 in statement credits each cardmember year toward travel purchases such as airfare, hotels, taxis, parking, etc.Airport lounge access (Priority Pass Select airport lounge membership and access to Chase Sapphire Lounges by The Club)Global Entry, TSA PreCheck, or NEXUS application fee creditComplimentary DoorDash DashPass membership (and a $5 monthly in-app DoorDash credit) through December 31, 2024One-year complimentary Instacart+ membership (activate by July 31, 2024)Up to $15 per month in Instacart credits through July 2024Two years of complimentary Lyft Pink All Access membership, and 50% off the third year (activate by December 31, 2024)
The card comes with a Chase Sapphire Reserve® annual fee. Read our Chase Sapphire Reserve credit card review to learn more about this card.
You’ll get purchase protection with all Chase credit cards, but coverage amounts vary.
Best for large purchases: The Business Platinum Card® from American Express
The Business Platinum Card® from American Express is a small business card, so you’ll need some sort of business venture to qualify. Things as simple as a delivery driver for Instacart or DoorDash, freelance writer, or dog sitter via Rover can make you eligible for a small business card.
This card offers the following purchase protections:
When you buy an eligible item and it’s lost or damaged up to 90 days from the purchase date, you can receive up to $10,000 per occurrence and $50,000 per yearIf an eligible item has a US manufacturer’s warranty of five years or less, this card will extend it by one yearIf you decide to return an eligible item within 90 days of purchase and the merchant refuses to process the return, you can get a refund of the full purchase price (excluding shipping and handling), up to $300 per item, and a maximum of $1,000 per calendar year
This card is an excellent choice for large purchases because it receives 50% bonus points (1.5 points per dollar) on purchases of $5,000 or more.
You’ll also receive The Business Platinum Card® from American Express. That’s worth an average of The Business Platinum Card® from American Express in travel, per Insider’s valuation of Amex points.
The card incurs a The Business Platinum Card® from American Express annual fee, but it comes with a slew of annual statement credits:
Up to $200 in airline fee credits each calendar yearUp to $400 in U.S. Dell credits each calendar yearGlobal Entry or TSA PreCheck application fee creditUp to $120 in credits for U.S. wireless providers each calendar yearUp to $360 in Indeed credits each calendar year**Up to $150 in Adobe credits each calendar year**Up to $189 back per year back in credits for CLEAR® membership**
You’ll also receive various travel benefits, such as Gold elite status with Hilton and Marriott**, airport lounge access (Priority Pass**, Centurion lounges, etc.), and more. Check out our Amex Business Platinum card review for more details.
If you’re not a small-business owner, consider The Platinum Card® from American Express or American Express® Gold Card for solid purchase protection benefits. Both come with the same purchase protection coverage as The Business Platinum Card® from American Express, but neither offers bonus rewards for large purchases.
Best for small-business owners: Ink Business Cash® Credit Card
The Ink Business Cash® Credit Card is another small business credit card, meaning you won’t qualify unless you operate at least a side gig such as tutoring, coaching, Uber driving, etc. If you qualify, however, this card is difficult to beat for the price. It charges a Ink Business Cash® Credit Card annual fee and comes with protections that rival premium cards that charge $500+ annual fees:
When you buy an eligible item, you’re covered for 120 days from damage or theft up to $10,000 per claim and $50,000 per accountIf an eligible item has a US manufacturer’s warranty of three years or less, this card will extend it by an additional year
This card has an incredible welcome bonus at the moment: Ink Business Cash® Credit Card. That’s worth an average of Ink Business Cash® Credit Card when you transfer this bonus to Chase’s airline and hotel partners — though note that to do this, you’ll need to also hold an annual fee-incurring Chase Ultimate Rewards points earning card, such as the Chase Sapphire Preferred® Card.
The card also offers primary rental car insurance (when renting for business purposes). You can take a look at our Ink Business Cash credit card review to see just how great this card is.
Best personal card with a sub-$100 annual fee: Blue Cash Preferred® Card from American Express
If you don’t have a small business and you don’t feel like coughing up several hundred dollars in annual fees, the Blue Cash Preferred® Card from American Express is an excellent option for purchase protection, with an annual fee of Blue Cash Preferred® Card from American Express. Here’s what you’ll get:
When you buy an eligible item and it’s lost or damaged up to 90 days from the purchase date, you can receive up to $1,000 per occurrence and $50,000 per yearIf an eligible item has a US manufacturer’s warranty of five years or less, this card will extend it by one year (maximum coverage of $10,000 per item and $50,000 per account per calendar year).If you return an eligible item within 90 days of purchase and the merchant will not accept the return, you can get a refund of up to $300 per item and a maximum of $1,000 per calendar year
The Blue Cash Preferred® Card from American Express comes with a $250 statement credit after you spend $1,000 in the first 3 months from account opening.
This card’s main draw is its generous return rates. You’ll get 6% cash back at U.S. supermarkets (on up to $6,000 in spending per year, then 1%), 6% back on select U.S. streaming subscriptions, 3% back at U.S. gas stations and on transit, and 1% back on all other purchases (cash back is received in the form of Reward Dollars that can be redeemed as statement credits).
You’ll also get a few noteworthy ongoing benefits such as a monthly $7 credit when you pay for a Disney Bundle subscription of $13.99 or more with your card**. The Disney Bundle includes Disney+, ESPN+, and Hulu.
To view the full details of this card, read our American Express Blue Cash Preferred review.
Best no-annual-fee card with purchase protection: Chase Freedom Flex℠
Though the Chase Freedom Flex℠ offers the least amount of purchase protection coverage of any card on this list, it’s one of the most popular due to its Chase Freedom Flex℠ annual fee. It’s also one of the easiest cards to be approved for.
Here’s what you’ll get:
When you pay for an eligible new purchase, you’ll be covered for damage or theft for 120 days, up to $500 per claim (maximum $50,000 per account)When you purchase an item with a manufacturer’s warranty of three years or less, the card will extend the warranty by an additional year
The Chase Freedom Flex℠ also comes with Chase Freedom Flex℠. But similar to the Ink Business Cash® Credit Card, if you hold an Ultimate Rewards card that charges an annual fee, you can combine your rewards for potentially more value. Unless you’ve got either a Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you won’t be able to transfer your points to airline and hotel loyalty programs to receive outsized value from your rewards.
This card also comes with automatic cell phone protection when you use it to pay your monthly wireless bill. You’ll be covered for theft or damage, up to $800 per claim and $1,000 per year — and you’ll only need to pay a $50 deductible per claim (maximum of two claims per 12-month period).
Read our Chase Freedom Flex credit card review to see why it’s one of the best no-annual-fee credit cards on the market.
Best credit cards for purchase protection frequently asked questions (FAQ)
Are credit cards with purchase protection worth it?
Purchase protection tends to be a peripheral benefit for most people looking for the perfect credit card. More important are welcome bonuses, annual statement credits, travel insurances, etc. But if you make a lot of purchases, or if you’ve got a large upcoming purchase, it is well worth selecting a card with strong purchase protection to make the payment.
What type of purchase protections should I be looking for in a credit card?
The most common credit card purchase protections can cover your purchase in case it’s lost or damaged, extend the manufacturer’s warranty, or reimburse you if you want to return an item but the merchant won’t process the return.
While not considered purchase protection, there are a handful of cards that offer price protection. For example, the Navy Federal Credit Union® More Rewards American Express® Credit Card will reimburse you up to $250 per claim if, within 30 days of buying an eligible item with your card, you see a print advertisement for the identical item at a lower price than you originally paid.