The best credit cards that offer cell phone insurance in September 2024
Published 7:48 AM EDT, Mon April 22, 2024
If you’re paying out of pocket for phone insurance, you may want to reconsider. You can likely get very similar protection simply by using the right credit card to pay your monthly phone bill.
It’s literally that easy. Many credit cards will automatically cover you and others on your phone plan against damage or theft when you use them to pay your wireless bill. But each card comes with its own coverage caps, deductibles and ancillary benefits that can make your quest for the perfect option a bit complicated.
Our team of experts evaluated over 20 cards that offer cell phone protection, evaluating factors such as rewards value, sign-up bonus value and annual fees. Using a data-based approach, we narrowed down the list to the top 10 credit cards that scored highly based on our weightings. Read our full methodology below.
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Capital One Venture X Rewards Credit Card: Best credit card with cell phone insurance
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Wells Fargo Active Cash? Card: Best for a low deductible and flat-rate rewards
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Chase Freedom Flex?: *Best no annual fee card
The information for the Chase Freedom Flex? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
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Wells Fargo Autograph? Card: Best for bonus points on wireless payments and no annual fee
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The Business Platinum Card? from American Express: *Best for small businesses
The information for the The Business Platinum Card? from American Express has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
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American Express? Business Gold Card: *Best business card for bonus points on wireless payments
The information for the American Express? Business Gold Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
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Ink Business Preferred? Credit Card: Best for high-value phones
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The Platinum Card? from American Express: Best for luxury travel perks
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Hilton Honors Aspire Card from American Express: *Best hotel card
The information for the Hilton Honors Aspire Card from American Express has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
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Delta SkyMiles? Reserve American Express Card: Best airline card
All information about American Express? Business Gold Card, Hilton Honors Aspire Card from American Express and The Business Platinum Card? from American Express has been collected independently by CNN Underscored.
Capital One Venture X Rewards Credit Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Wells Fargo Active Cash? Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Chase Freedom Flex?
*The information for the Chase Freedom Flex? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Wells Fargo Autograph? Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
The Business Platinum Card? from American Express
*The information for the The Business Platinum Card? from American Express has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
All information about The Business Platinum Card? from American Express has been collected independently by CNN Underscored.
American Express? Business Gold Card
*The information for the American Express? Business Gold Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
All information about American Express? Business Gold Card has been collected independently by CNN Underscored.
Ink Business Preferred? Credit Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
The Platinum Card? from American Express
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Hilton Honors Aspire Card from American Express
*The information for the Hilton Honors Aspire Card from American Express has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
All information about Hilton Honors Aspire Card from American Express has been collected independently by CNN Underscored.
Delta SkyMiles? Reserve American Express Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Our picks at a glance
| Annual fee | Welcome bonus | Best for | Cell phone insurance coverage limit and deductible | |
|---|---|---|---|---|
Capital One Venture X Rewards Credit Card
| $395
| 75,000 bonus miles after spending $4,000 on purchases within the first three months of account opening
| Cell phone insurance
| $800 per claim, $50 deductible
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Wells Fargo Active Cash? Card
| $0
| $200 cash rewards bonus after spending $500 in purchases in the first three months
| Low deductible and flat-rate rewards
| $600 per claim, $25 deductible
|
Chase Freedom Flex?
*
The information for the Chase Freedom Flex? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
| $0
| $200 bonus after you spend $500 on purchases in your first three months from account opening
| No annual fee
| $800 per claim (up to $1,000 per 12 months), $50 deductible
|
Wells Fargo Autograph? Card
| $0
| 20,000 bonus points after spending $1,000 in purchases in the first three months
| Bonus points on wireless payments and no annual fee
| $600 per claim, $25 deductible
|
The Business Platinum Card? from American Express
*
The information for the The Business Platinum Card? from American Express has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
| $695
| 150,000 Membership Rewards? points after spending $20,000 in eligible purchases with the card within the first three months of card membership
| Small businesses
| $800 per claim, $50 deductible1
|
American Express? Business Gold Card
*
The information for the American Express? Business Gold Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
| $375
| 100,000 Membership Rewards? points after spending $15,000 on eligible purchases within the first 3 months of opening an account
| Businesses looking to earn bonus points on wireless payments
| $800 per claim, $50 deductible1
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Ink Business Preferred? Credit Card
| $95
| 90,000 points after spending $8,000 on purchases in the first three months of account opening
| High-value phones
| $1,000 per claim, $100 deductible
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The Platinum Card? from American Express
| $695
| 80,000 Membership Rewards? points after you spend $8,000 on purchases within the first six months of account opening
| Luxury travel perks
| $800 per claim, $50 deductible1
|
Hilton Honors Aspire Card from American Express
*
The information for the Hilton Honors Aspire Card from American Express has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
| $550
| 175,000 Hilton Honors bonus points after spending $6,000 in purchases within the first six months of opening an account
| Hotels
| $800 per claim, $50 deductible
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Delta SkyMiles? Reserve American Express Card
| $650
| 60,000 miles after spending $5,000 on eligible purchases in the first six months of card membership
| Airlines
| $800 per claim, $50 deductible1
|
All information about American Express? Business Gold Card, Hilton Honors Aspire Card from American Express and The Business Platinum Card? from American Express has been collected independently by CNN Underscored.
How to activate credit card cell phone insurance
To activate credit card cell phone insurance, all you need to do is pay your wireless bill with the credit card offering protection. As long as you paid your phone bill with the card in the month before your phone was damaged or stolen, you’ll typically be covered.
Credit cards often cover all the cell phone lines on your bill, though exact details can vary by card issuer.
What is covered by credit card phone insurance?
With credit card phone insurance, you can generally expect to be reimbursed for eligible stolen, lost or damaged phones up to the actual cost of repair or replacement or the issuer’s specified maximum payout, whichever is less. You’ll only be reimbursed for anything that isn’t covered by another insurance provider.
Typically, damage is something that causes the phone to not work properly, such as a seriously cracked screen. You won’t be covered from simple cosmetic imperfections like scuffs and scratches, and you won’t be reimbursed if you intentionally break the phone. Read the fine print of your card’s insurance to see what kinds of scenarios aren’t covered.
How to choose the right credit card with phone insurance
Credit cards offer a variety of phone insurance plans to fit different needs. Here are some things to consider before making your choice:
- How much coverage do you need? The maximum claim amount can vary by hundreds of dollars. Deductibles can also vary. If you’ve got an expensive phone, you may prefer a card with a higher coverage limit.
- Do you prioritize bonus rewards? Not all credit cards offering phone insurance provide bonus rewards for your phone services, but some do. If your wireless bill is a large expense for you, it could be worth focusing on cards with the best rewards rates.
- How high of an annual fee are you willing to pay? There are no annual fee credit cards that offer phone insurance, and there are $695 annual fee cards that offer phone insurance. The most comprehensive coverage will typically come from cards with fees — but it’s not worth paying an annual fee solely for cell phone coverage.
- Is the phone for personal or business use? If you’ve got a business that pays for its employee phones, you’ll probably want to lean on a small business credit card for the expense.
Alternatives to credit card phone insurance
Credit card insurance is far from the only option to protect your mobile phone, though it can be the cheapest. Other options that provide some form of coverage include:
- Manufacturers warranties: You may receive limited coverage for your product from the manufacturer, typically to cover defective products. Some credit cards can extend that warranty by up to a year. This kind of coverage likely won’t extend to damage and theft.
- Ongoing maintenance plans: A maintenance plan such as AppleCare+ or Samsung Care+ can cover you against damage. You can pay more for coverage against theft and loss.
- Other insurance: Your wireless provider may offer insurance for a fee. For example, T-Mobile’s Protection<360>? program has coverage starting at $7 per month. Additionally, your phone may be covered by your homeowners or renters insurance or another insurance plan you have. In this case, your credit card insurance will only reimburse you for anything that these insurance plans will not.
Read the fine print on any insurance policy to make sure you understand what’s covered and what your deductible is.
Methodology
Our money and data analytics teams evaluated over 20 credit cards. We then narrowed down our list of the best cards with phone insurance by giving them a star rating out of five based on the following factors and our editorial judgment:
Sign-up bonus value (25%)
Many rewards cards offer bonus cash back, points or miles to consumers who spend a certain amount in their first months with the card. We calculated how much those bonuses are worth using points valuations from The Points Guy, and boosted cards that offer more value.
Rewards value (25%)
Many credit cards earn rewards, but not all credit card points and miles are worth the same amount. We used spending data from the Bureau of Labor Statistics and estimates of rewards values from The Points Guy to determine which cards dole out the best rewards value.
Benefits (25%)
Cards that offer benefits such as purchase protection, extended warranty and a 0% introductory APR on purchases and/or balance transfers received a boost.
Select fees (20%)
Cards with no or low annual fees and foreign transaction fees received a boost compared to cards with higher fees and rates.
Annual credits/bonuses (5%)
Credit cards that come with credits and bonuses for spending in categories including groceries, dining, entertainment and gas received a boost.
What didn’t make the cut
Many other credit cards provide some form of phone insurance — but a variety of foibles prevent them from being your best option. Here are a few examples:
- Choice Privileges? Mastercard? * The information for the Choice Privileges? Mastercard? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. : While the card offers generous cell phone insurance and a low deductible, its other perks are largely limited to those who regularly stay with Choice hotels.
- Bilt Mastercard?: Though its cell phone insurance is solid and its deductible is low, the Bilt Rewards program is designed for renters. If you don’t fit that profile, you won’t get as much value from it.
- Wells Fargo Reflect? Card: With good cell phone insurance and a 21-months 0% intro APR on purchases and balance transfers (then an 18.24%, 24.74%, or 29.99% Variable APR), this card suits those with a large upcoming expense that they can’t pay off immediately. However, the card doesn’t have a rewards program, so its value largely disappears after the first 21 months.
- Capital One Venture X Business: The card offers great cell phone insurance, but you’ll only qualify if you own a business (or have a side gig), making the consumer Venture X more accessible.
- Ink Business Premier? Credit Card: You’ll get similar insurance to the Ink Business Preferred, but the rewards you earn are less valuable. You can’t transfer them to airline and hotel partners for free travel like you can with the Ink Business Preferred.
We receive compensation from our partners for Featured Offer placements, which impacts how and where their offer is displayed.
Earn 90k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase Travel?
Credit Score ranges are based on FICO? credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Frequently asked questions (FAQs)
Cell phone insurance often appears as a perk on the landing page of credit cards that offer it. If you’re not certain, though, you’ll always find it in the card’s guide to benefits.
Some cards extend US manufacturers warranties on certain items and/or protect eligible purchases for a few months from the purchase date against theft and damage. Beyond that, you won’t receive any sort of phone protection simply by buying your phone with a specific credit card. You’ll have to pay your monthly phone bill for credit card phone insurance to kick in.
Credit card phone insurance is generally handled by a third party. Your card issuer can point you in the direction of that company, and you’ll need to provide documentation such as proof that you’ve been paying your phone bill with your eligible credit card and that the broken phone is in fact on that same account.
To view rates and fees for The Business Platinum Card? from American Express * The information for the The Business Platinum Card? from American Express has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. , please visit this page.
To view rates and fees for American Express? Business Gold Card * The information for the American Express? Business Gold Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. , please visit this page.
To view rates and fees for The Platinum Card? from American Express, please visit this page.
To view rates and fees for Delta SkyMiles? Reserve American Express Card, please visit this page.
1Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
All information about American Express? Business Gold Card, Chase Freedom Flex?, Choice Privileges? Mastercard?, Hilton Honors Aspire Card from American Express and The Business Platinum Card? from American Express has been collected independently by CNN Underscored.
Editorial Disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines, hotel chain, or other commercial entity and have not been reviewed, approved or otherwise endorsed by any of such entities.
This content is for educational purposes only and is not intended and should not be understood to constitute financial, investment, insurance or legal advice. All individuals are encouraged to seek advice from a qualified financial professional before making any financial, insurance or investment decisions.
Note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed or may no longer be available.
