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In addition to perks like earning rewards and statement credits, some top credit cards also offer a little-used perk called cell phone insurance, which provides an extra layer of security if your phone gets lost or damaged. Here, we’ll learn more about the best credit cards for cell phone insurance and how to choose the right one for your needs.
Compare the best credit cards with mobile phone insurance
Here are some of our top picks for credit cards with cell phone insurance that cover coverage, claims, and deductible limits.
| Card Name | Best for | Mobile Phone Protection | Annual Fee | Bankrate Score |
|---|---|---|---|---|
Chase Freedom Flex® | Bonus Cashback |
| $0 | 4.8 |
American Express Platinum Card® | Luxury perks |
| $695 | 4.8 |
Capital One VentureX Rewards Credit Card | Travel Rewards |
| $395 | 5.0 |
Wells Fargo Active Cash® Card | Fixed Remuneration |
| $0 | 4.3 |
Ink Business Preferred® Credit Card | Business Owner |
| $95 | 4.4 |
Top Credit Cards with Cell Phone Insurance
How to Choose the Best Credit Card with Mobile Phone Insurance
Many cards offer cell phone insurance, but offerings vary from issuer to issuer. Consider the following factors when choosing the credit card with cell phone insurance that’s right for you:
It will take a little time to understand the details.
- Please read the fine print. As with any insurance, you should read the fine print carefully to spot potential “gotcha” scenarios. It can be very frustrating when a claim is denied for technical reasons.
- Make sure you are comfortable with the deductible amount. The deductible is an amount you will have to pay out of pocket, so when considering a card with cell phone insurance, you need to make sure you can afford the deductible.
- Know your compensation limits. There are three limits to keep in mind: the maximum amount per claim, the annual coverage limit, and the number of claims you can make in a calendar year. The math doesn’t always add up on some cards, so a card with an $800 maximum per claim and two claims per year could still have an annual limit of less than $1,600.
- Pay your bill by card. Credit card mobile phone insurance is only valid if you pay your mobile phone bill in full with your credit card. With some cards, the insurance is valid from the day after you pay the bill, but with some cards, it may be valid from the beginning of the following month.
What is covered by mobile phone insurance?
Understanding your coverage can help you avoid headaches if a problem does arise.
FAQ
What’s next?
Enter some basic information into Bankrate’s pre-qualification tool, CardMatch™, to find the card that best suits your needs, and for more information, our Spender Type Tool can point you in the right direction.
Conclusion
While cell phone insurance isn’t the only reason to choose a credit card, it can help you get cash back on your phone if something happens that’s covered by the policy.
*Although not stated in the Public Interest Clause, this annual maximum coverage limit is the sum of the maximum coverage per claim plus the maximum number of claims per year. Check with your issuer to determine your potential annual coverage amount.
