Best Credit Cards For Purchase Protection
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There are few things worse having something valuable stolen or accidentally damaged soon after you purchased it. In some cases, you may be able to file a claim with your home owner’s or renter’s insurance policy, but often with a large deductible. Otherwise, most people would just have to absorb the loss. But thankfully, many credit cards offer a purchase protection policy that covers items paid for with your card. These policies can cover eligible items against theft or accidental damage in the months after purchase. But to use these policies you must comply with their terms and limitations, and submit a claim in a timely manner.
Here are some of the best credit cards for utilizing these purchase protection benefits:
The Capital One Venture Rewards also offers new cardholders 40,000 bonus miles after using their card to spend $3,000 within three months of account opening, and two miles per dollar spent on all purchases. Capital One miles are worth one cent as a statement credit towards travel purchases including airfare, hotels, car rentals and other travel reservations. There is a $59 annual fee for this card that is waived the first year, and no foreign transaction fees.
In addition, this card offers a 0% introductory APR for 21 months on balance transfers (must be made within the first four months of card membership) and 12 months on purchases. And although it doesn’t offer rewards, it does include other purchase protection and travel insurance policies such as extended warranty coverage, trip cancellation and trip interruption protection, and worldwide travel accident insurance. There is no annual fee for this card.
The Business Gold Rewards Card from American Express
With this card, new applicants can receive 25,000 bonus Membership Rewards points after spending $5,000 in purchases within three months of account opening. Cardholders also get 3x points on their choice of one of five categories including airfare, advertising, gas, shipping, and computer hardware and services from select providers. 2x points are earned on purchases from the remaining categories, and one point per dollar is earned on all other purchases. There is a $175 annual fee for this card that is waived the first year, and no foreign transaction fees.
In addition to its purchase protection, this card offers strong travel rewards and a sign-up bonus of 40,000 points after new cardholders make just $4,000 in purchases within three months of account opening. You’ll earn 3x points on all travel and hotel purchases, 2x on dining and entertainment and one point per dollar spent on all other purchases. It also offers numerous cardholder benefits including medical evacuation coverage, last baggage protection, trip cancellation and interruption coverage and trip delay protection. In addition, it offers extended warranty coverage. You can even use Citi’s Price Rewind service to receive a refund if you find a lower price advertised for one of your purchases.
Other benefits include a Priority Pass Select airport lounge membership, a fourth night free hotel benefit and a $250 Air Travel Credit each year. There is a $450 annual fee for this card, and no foreign transaction fees.
Other benefits include airport business lounge access at Delta SkyClubs, Priority Pass Select lounges, and American Express Centurion lounges. Cardmembers also receive a $200 annual air travel credit and and a $100 credit towards the application fee of Global Entry program, which includes TSA PreCheck access. Also included is elite status with Starwood and Hilton hotels along with Avis, Hertz, and National car rentals. There is a $450 annual fee for this card, and no foreign transaction fees.