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.

How to find cheaper car insurance in minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Read Next
12 Ways to Maximize Your Social Security Checks
12 Ways to Maximize Your Social Security Checks

Following these tips will ensure you receive all the retirement income you’re entitled to — which might be more than you realize.

9 Ways to Boost Your Home’s Curb Appeal for Less Than $50
9 Ways to Boost Your Home’s Curb Appeal for Less Than $50

These products will instantly improve your home’s curb appeal without breaking the bank.

22 Things You Should Always Buy at a Dollar Store
22 Things You Should Always Buy at a Dollar Store

The dollar store has great bargains on these purchases.

14 Uses for WD-40 That Save Money, Time or Headaches
14 Uses for WD-40 That Save Money, Time or Headaches

WD-40 is handy in a lot more situations than you likely realize.

7 Mistakes Guaranteed to Ruin Your Retirement
7 Mistakes Guaranteed to Ruin Your Retirement

Make even one of these money mistakes, and you’ll probably end up eating ramen noodles in your golden years.

View this page without ads

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

Get Started

Most Popular
Will I Get My Ex-Husband’s Social Security When He Dies?
Will I Get My Ex-Husband’s Social Security When He Dies?

Two factors determine how much money is coming to you.

10 States Where COVID-19 Threatens Seniors the Most
10 States Where COVID-19 Threatens Seniors the Most

No state is immune from the coronavirus. But statistics show that some places are especially dangerous for older residents.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

20 Things That Are Actually Worth Stockpiling
20 Things That Are Actually Worth Stockpiling

You probably don’t need a year’s supply of toilet paper to survive an outbreak, but consider stocking up on these items.

5 Household Disinfectants That Can Destroy the Coronavirus
5 Household Disinfectants That Can Destroy the Coronavirus

You likely already have some of these products at home.

6 Reasons I Will Never Trust Suze Orman
6 Reasons I Will Never Trust Suze Orman

Beware: The self-proclaimed personal finance expert has a track record that suggests more sizzle than steak.

America’s Most Reliable Appliance Brand Is a Surprise
America’s Most Reliable Appliance Brand Is a Surprise

Have you heard of this appliance manufacturer?

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

These practical products make everyday life a little easier.

The Top 11 Jobs That Employers Want Retirees to Do
The Top 11 Jobs That Employers Want Retirees to Do

Tired of age discrimination? Businesses are clamoring for older workers to fill certain roles.

This Type of Social Security Benefit Is Often Overlooked
This Type of Social Security Benefit Is Often Overlooked

The Social Security Administration is not helping certain people get money to which they are entitled, a report says.

9 Things That Are Cheaper Due to the Coronavirus
9 Things That Are Cheaper Due to the Coronavirus

The pandemic has a silver lining.

9 Everyday Problems You Can Solve With Vaseline
9 Everyday Problems You Can Solve With Vaseline

Forget expensive specialty products. Good ol’ petroleum jelly can address many common annoyances.

19 Purchases That Buyers Almost Always Regret
19 Purchases That Buyers Almost Always Regret

Think twice before buying these things.

7 Tips for Building an Emergency Stockpile
7 Tips for Building an Emergency Stockpile

A pandemic or natural disaster could leave you reliant on your existing food supply. Is your pantry prepared?

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

8 of the Worst Things to Buy at a Dollar Store
8 of the Worst Things to Buy at a Dollar Store

Not everything sold at dollar stores is a great bargain or a safe purchase. Here’s our list of products to avoid.

41 Things You Should Never Buy
41 Things You Should Never Buy

Some purchases are just plain dumb. Give yourself — and your budget — a break. Don’t spend money on this stuff.

5 Ways to Get Amazon Prime for Free
5 Ways to Get Amazon Prime for Free

Hesitant to drop $119 a year on an Amazon Prime membership? Here’s how to get it for free.

7 Ways to Shop at Costco Without a Membership
7 Ways to Shop at Costco Without a Membership

You don’t necessarily need to join to get in on the warehouse store’s savings.

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.