Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.
Many credit cards come with perks beyond earning cash back or rewards points. Some include purchase protection, which helps cover the cost of repairing or replacing belongings bought with the card.
How much protection you have depends on the specific card: Most cover items for the first 60 or 90 days after purchase but the Chase Freedom Flex® card offers protection against damage or theft for 120 days, with a cap of $500 per claim and $50,000 over the lifetime of the card.
There's no annual fee and new cardholders enjoy a 0% introductory APR for the first 15 months on purchases and balance transfers (with a variable APR of 18.24% - 27.74% afterward).
The Chase Freedom Flex® is an excellent cash-back card for maximizing your spending in a variety of categories.
- Long intro APR for purchases and balance transfers
- Rewarding quarterly bonus categories
- No annual fee
- Bonus categories are capped each quarter
- Has a foreign transaction fee
Rewards
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%)
- 5% cash back on travel booked through Chase Travel℠
- 3% on drugstore purchases and on dining (including takeout and eligible delivery services)
- 1% cash back on all other purchases
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3%
If you want more coverage, the American Express® Gold Card is a great option: Cardholders can receive up to $10,000 per occurrence and $50,000 per card member per calendar year for damage or theft that occurs within 90 days of purchase.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
The American Express Gold Card is great for earning valuable Membership Rewards® points at restaurants worldwide and U.S. supermarkets.
- You can earn $400+ in dining and rideshare credits every year (Enrollment required for select benefits mentioned)
- Exceptionally rewarding for eligible restaurant and U.S. supermarket purchases
- No foreign transaction fees
- Larger annual fee
- Credits are more complicated, you earn them monthly or semi-annually
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount – all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You'll know upfront exactly how much you'll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That's up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
- See Rates & Fees
Foreign transaction fee
None
Understanding how your card's purchase protection works before you need it is important. Here's what you should know before filing a claim.
What we'll cover
What is and isn't covered by purchase protection
Obviously, an item must have been bought with a credit card that offers a protection plan to be covered by it. Each plan has a set amount of time a purchase is covered, a set dollar amount that will be paid and a limit on how much the cardholder can claim in a calendar year or over the lifetime of the account. (Check your card's benefits guide to see which applies.).
Some cards only cover theft or damage and not loss. Items purchased abroad can often qualify for coverage.
These items are typically not covered by credit card purchase protection plans:
- Vintage or antique goods
- Plants and animals
- Perishables
- Cars
- Boats
- Software
- Gift cards
- Event tickets
How to file a purchase protection claim
Purchase protection is best used if you don't have homeowners or renters insurance or the item isn't covered by your policy. In some cases, it's not the right move to file a homeowners or renters insurance claim — generally, it's best to avoid claims that are equal to or less than the deductible.
Since the item is only covered for a limited time, you'll want to work quickly. You'll need the following documents to file a claim:
- The receipt from the retailer you bought the item from
- A credit card statement showing the purchase
- A repair estimate if the item was damaged
- A police report if the item was stolen
If you're required to file an insurance claim, you'll likely need to also provide a copy of the claim settlement and your insurance declarations page, as well as any other relevant paperwork.
Which credit card companies offer purchase protection?
While the timeframe and dollar amount covered varies depending on the individual card, American Express, Visa and Mastercard all offer purchase protection plans. Discover does not currently offer purchase protection.
- You can manage Visa purchase protection claims on the card benefit services site or by calling 888-221-3289.
- American Express claims can be made on the Amex website or by calling 800-228-6855.
- Mastercard claims can be made through My Card Benefits or by calling 636-722–8883.
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Bottom line
Credit card purchase protection can come in handy if an item is damaged or stolen soon after you buy it. But there are limits on what is covered, when you can file a claim and how much you can be reimbursed, so it's important to study your card's policy before you need it.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Read more
For rates and fees of the American Express® Gold Card, click here.
