Your Credit Card May Come With Cellphone Insurance

Photo by sawaddeebenz / Shutterstock.com

Your credit card can spare you more expenses than you probably realize. As we reported earlier this year:

“Many cardholders aren’t even aware of the extra benefits they get with their cards. … Consumers who ignore or overlook credit card benefits may be missing out on thousands of dollars worth of perks and services.”

Many perks are travel-related — free rental car insurance, for example. Free cellphone protection is one credit card perk that can benefit most consumers — and save them as much as $600.

Cellphone protection

Clark.com reports that multiple credit cards issued by a few different companies now come with cellphone protection. It’s essentially a form of phone insurance.

For example, the following cards offer protection against phone damage and theft:

  • Some Wells Fargo credit cards: The benefit is worth up to $600 per occurrence, and you can file up to two claims per year. The deductible is only $25 per claim. Check out Wells Fargo’s guide to this benefit for more details.
  • Some First Citizens Visa credit cards: The benefit is worth up to $500 per occurrence, and you can file up to two claims per year. The deductible is $50 per claim. Check out First Citizens Bank’s guide to this benefit for more.
  • Some U.S. Bank Visa Platinum credit cards: This benefit is worth up to $600 per occurrence, and you can file up to two claims per year. The deductible is $25 per claim. Check out U.S. Bank’s guide to this benefit for more.

Such cellphone protection is generally free, although cardholders are required to pay their phone bill with the credit card that bestows the benefit. Getting cardholders to pay for that recurring monthly expense with their credit card is the point, consumer advocate Clark Howard explains:

“Credit card companies are offering a variety of unusual benefits to stand out from one another, including protection for electronics like your cell phone. They want you to pay your cell phone bill with their card. And if you do so, the cell phone may be covered if you break it or it breaks on you.”

Terms and conditions

Like most any other credit card perk, cellphone protection policies have terms and conditions. So if your credit card offers the benefit or you’re considering switching to a new credit card that does, be sure to read the card’s guide to the benefit.

Look at the details of the benefit itself, such as how many phones would be eligible to receive protection. Also look at what you would have to do to successfully file a claim. For example, some companies require you to provide receipts or copies of your credit card statements that reflect your phone bill payments.

You may also want to check whether cellphones are covered under an existing insurance policy, such as homeowners insurance. There’s little point in switching to a card with cellphone protection if your phone is already covered.

Have you ever taken advantage of a credit card perk like cellphone protection? Tell us about your experience below or over on our Facebook page.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
7 Steps to Keep Your Car Looking Like New
7 Steps to Keep Your Car Looking Like New

Take a few steps to preserve the beauty of your car, and you stand to get a lot more money at trade-in time.

The 14 Most Deadly Car Models
The 14 Most Deadly Car Models

These vehicles are involved in fatal accidents at least twice as often as the average car.

12 Expenses You May Be Tempted to Claim as Tax Deductions — but Shouldn’t
12 Expenses You May Be Tempted to Claim as Tax Deductions — but Shouldn’t

Thinking of trying to deduct a few of these things on your federal tax return? That could be a costly mistake.

5 Reasons You Should Retire Sooner, Not Later
5 Reasons You Should Retire Sooner, Not Later

Waiting until age 70 to retire isn’t for everyone. Could you be waiting too long?

5 Ways Social Security Will Change in 2021
5 Ways Social Security Will Change in 2021

These adjustments will affect both workers and retirees in the new year.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
7 Kirkland Signature Items to Avoid at Costco
7 Kirkland Signature Items to Avoid at Costco

Even if it seems you save a bundle buying Costco’s Kirkland Signature brand products, they may not be the bargain they appear to be.

8 Tips for Retiring Comfortably on Social Security Alone
8 Tips for Retiring Comfortably on Social Security Alone

It’s never too early to start learning how to live well while living on less.

Am I Eligible for My Mother’s Social Security Benefit?
Am I Eligible for My Mother’s Social Security Benefit?

Can an adult daughter tap into her late mother’s benefit?

11 Generic Products You Should Buy at Costco
11 Generic Products You Should Buy at Costco

Not all generics are worthwhile, but these are among the best from Costco’s Kirkland Signature brand.

9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

This Surprise Factor Can Raise Your Risk of Dementia
This Surprise Factor Can Raise Your Risk of Dementia

Nearly half of U.S. residents may face this threat.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

Organize Your Home With These 10 Thrift Store Finds
Organize Your Home With These 10 Thrift Store Finds

Resolve to be clutter-free in 2021 with these secondhand purchases.

This Gas Station Scam Is Victimizing More Drivers
This Gas Station Scam Is Victimizing More Drivers

For the second straight year, a growing number of Americans believe they’ve fallen prey to this scam.

11 Laws You Could Be Breaking Without Knowing It
11 Laws You Could Be Breaking Without Knowing It

Seriously? Fibbing about the weather is a crime? This and other little-known legal traps await the unwary.

6 Legal Documents Retirees Need — but Don’t Have
6 Legal Documents Retirees Need — but Don’t Have

Few retirees have all of these documents that are crucial to their golden years — especially during a pandemic.

These Are the 3 Best Used Cars You Can Buy
These Are the 3 Best Used Cars You Can Buy

These vehicles boast reliability, safety and long-lasting value.

Can a Divorced Widow Claim Her First Husband’s Social Security Benefits?
Can a Divorced Widow Claim Her First Husband’s Social Security Benefits?

The rules are complicated when it comes to eligibility for survivors benefits.

27 Things You Should Never Pay For — and How to Get Them for Free
27 Things You Should Never Pay For — and How to Get Them for Free

When you know the tricks, you can save big on all kinds of useful things that others pay for.

13 Things Seniors Can Get for Free — or Almost Free
13 Things Seniors Can Get for Free — or Almost Free

There are many ways to get cheap or free services and goods after reaching a certain age.

15 Amazon Purchases That We Are Loving Right Now
15 Amazon Purchases That We Are Loving Right Now

These practical products make everyday life a little easier.

Internet Providers Can’t Charge You for This Anymore
Internet Providers Can’t Charge You for This Anymore

Starting this month, your ISP no longer can bill you for this fee.

10 Things I Always Buy at Trader Joe’s
10 Things I Always Buy at Trader Joe’s

From snacks to sweets to side dishes, stock your cart with these time-tested favorites on your next TJ’s run.

9 Small Expenses That Are Bleeding Your Budget Dry
9 Small Expenses That Are Bleeding Your Budget Dry

Keep more of future paychecks by eliminating these budget-busting unnecessary expenses.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.