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Your credit card may give you free cell phone insurance
When this post was first written the Chase Ink Business Preferred was one of the only cards to offer cell phone insurance as a perk of the card. Now…there are so many that you need a chart to keep track! Luckily…Miles is a whiz at chart making and whipped up this bad boy to make things a little simpler for you.
This is an overview of the various cards on the market that offer free cell phone insurance as a perk of card membership. While most are affiliated with banks specifically…many Mastercards that are branded World and World Elite offer some kind of cell phone insurance. That’s amazing!
Whether you have a Capital One Venture X, Amex Platinum, a Chase Freedom Flex, or a Chase Ink Business Preferred, make sure you’re making use of the perks that a free to you with your cards!
*note…there are exclusions to any coverage and make sure you understand the terms and conditions
Our Favorite Credit Cards – updated monthly!
Credit Cards that offer Free Cell Phone Insurance
|Bank||Card Name||Coverage||Earn Rate||Annual Fee|
|American Express||Platinum and Black Card both personal and business||$800 per claim, $50 deductible and max of 2 per year||1x||Personal Plat = $695
Business Plat = $695
Black = $5k
|Barclay||Bilt Mastercard World Elite||$800 per claim, $50 deductible, $1k max/ 2 claims per year||1x||No annual fee|
|Barclay||American Airlines Aviator Red||$800 per claim, $50 deductible, $1k max/ 2 claims per year||1x||$99 annual fee|
|Capital One||Capital One Venture X||$800 per claim, $50 deductible, 2 claims per year,||2x||$395|
|Capital One||Capital One Spark Cash Plus||$800 per claim, $50 deductible, 2 claims per year, $1k max per year||1x||$0|
|Chase||Freedom Flex||$800 per claim, $50 deductible, 2 claims per year, $1000 max||1x||No Annual Fee|
|Chase||Ink Business Preferred||$600 per claim, $100 deductible, $1800 per year||3x||$95|
|Citi||Prestige||$1000 per claim, $50 deductible, $1500 max per year||1x||$495|
|Mastercard World||Some of them||$600 per claim, $50 deductible, and $1200 max per year||varies||varies|
|Mastercard World Elite||Some of them||Roughly...$1000 per claim, $50 deductible, $1500 max||varies||varies ( Freedom Flex is no Annual Fee and has coverage )|
|Sofi||Money Debit||$200 per claim, $25 deductible, and 2 claims per year||$0|
|US Bank||Platinum Card||$600 per claim, $25 deductible, and $1200 per year||no annual fee|
|Wells Fargo||Coverage on all of their consumer cards||$600 per claim, $25 deductible, and $1200 per year||varies||varies|
The Chase Sapphire Preferred is a great starter card that earns Premium Ultimate Rewards that can be transferred into over a dozen partners many of which are US based.
60k Points after $4k spend in 3 months
80k offer in branch currently – I think this should be online soon
Transferrable Chase Ultimate Rewards
Super solid welcome offer.
If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex℠and Chase Freedom Unlimited® or the business versions: Ink Business Cash , Ink Business Unlimited you can combine the points into Preferred account and transfer into hotel and airline partners
Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.
- 3x on dining
- including eligible delivery services for takeout
- 3x on select streaming services
- 3x on online grocery purchases
- (excluding Target, Walmart and wholesale clubs)
- 5x on all travel purchased through Chase Ultimate Rewards – Chase Travel Portal
- $50 Annual Credit on hotel stays purchased via Ultimate Rewards/Chase Travel
- The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
- 10% Anniversary Bonus
- Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
- Chase Sapphire Preferred® continues to redeem at 1.25c in the Chase Travel Portal and the slew of other benefits remain in tact including primary rental car insurance, purchase protections, etc.
- Points are transferrable to 13 Ultimate Rewards partners
- Redeem in the Chase Travel center for 1.25 cents per point
- No foreign transaction fees
- Suite of Travel and Purchase Coverage
- Primary rental car coverage is my favorite
There is currently an 80k offer after $4k spend in 3 months available in branch, and up to 90k after $6k spend in 6 months. I suspect some version of this will be online soon if you don’t want the hassle of going into a branch.
We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.
Historically 60k is a very, very good offer. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back. .
Cards that earn flexible points and should be used on the bulk of your purchases.
Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on.