Does Bank of America have purchase protection?

Purchase protection is a perk that comes with some Bank of America cards. The perk means eligible items bought with your card will be reimbursed if they are stolen. Your card provider can also cover the costs of repairs if the items are damaged. Unfortunately, not all credit cards offer this perk.

Does Bank of America have purchase protection?

At the moment of writing only the Bank of America® Premium Rewards® Credit Card offers the Visa version of purchase protection known as purchase security. This perk provides 90 days of coverage from the day you make your purchase for up to $10,000 per claim and up to $50,000 per account.

How to use Bank of America purchase protection

This perk is automatically activated when you use your card. Here’s how it works:

1. Make an eligible purchase with your Bank of America® Premium Rewards® Credit Card.
2. Call your card benefit administrator in the event of theft or damage.
3. The benefit administrator will send you a claim form.
4. Submit the completed form along with any additional documents within 90 days of the occurrence.
5. Wait for your claim to be either approved or denied.

Compare credit cards with purchase protection

If you don’t find the Bank of America® Premium Rewards® Credit Card appealing, there are other cards that provide this perk.

Sort by:

Name	Product	Filter values	Cash advance rate	Cash advance fee	Recommended minimum credit score
Blue Cash Preferred® Card from American Express			25.24% variable	$10 or 5% of the cash advance amount, whichever is greater	670	Perfect for families: Get up to 6% on everyday purchases and a welcome offer worth $300. This heavy-hitter rewards card has uncontested value. Terms apply, see rates & fees	Apply now View details	Compare	loading Fetching your data...
Blue Cash Everyday® Card from American Express			25.24% variable	$10 or 5% of the cash advance amount, whichever is greater	670	This everyday cashback card offers a higher than average welcome offer for no annual fee, letting you earn $200 after you spend $1,000 in the first 3 months. Terms apply, see rates & fees	Apply now View details	Compare	loading Fetching your data...
Chase Freedom Flex℠			24.99% variable	$10 or 5% of the cash advance amount, whichever is greater	670	Get up to 5% cashback in rotating and newly added everyday categories. The refreshed Freedom Flex card has lots of earning potential.	Apply now View details	Compare	loading Fetching your data...

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Who gets to use Bank of America purchase protection?

This feature is available to the main cardholder of the Bank of America® Premium Rewards® Credit Card every time they make a purchase.

Bottom line

Having purchase protection on your card is a useful feature, especially since you don’t have to pay extra to use it. Unfortunately, only one Bank of America credit card offers this perk. On the positive side — you get up to $10,000 coverage per claim.

But if you don’t find this card appealing, or if you don’t want to pay an annual fee to get this perk, compare other cards with purchase protection.

Frequently asked questions

• Does Bank of America purchase protection cover all purchased items?

  No. The following purchases aren’t covered:

  • Animals and living plants
  • Antiques and collectible items
  • Boats, aircraft, automobiles and any other motorized vehicles and their equipment or accessories
  • Broken items, unless damage is the result of a covered occurrence
  • Computer software
  • Items purchased for resale, professional or commercial use
  • Jewelry and watches
  • Medical equipment
  • Consumables including but not limited to: perfumes, cosmetics and limited-life items such as rechargeable batteries
  • Real estate and items that are intended to become part of real estate including but not limited to: items that are hard-wired or hard-plumbed, garage doors, garage door openers, and ceiling fans
  • Rented or leased items, or items purchased on an installment plan and for which the entire purchase price was not paid in full at the time of the occurrence
  • Traveler’s checks, cash, tickets, credit or debit cards
  • Used or pre-owned items

• What other documents do I need to submit with the claim form?

  In most cases, you’ll need to provide:

  • Your Visa card receipt
  • The itemized store receipt
  • A police report filed within forty-eight hours of the incident in the case of theft, fire, insurance claim or loss report
  • A copy of your primary insurance declarations page to confirm your deductible
  • Documentation of any other settlement of the theft or damage if available
  • Any other documentation deemed necessary to substantiate your claim

• Is Bank of America purchase protection primary coverage?

  No, this is secondary coverage.