- Damage due to fire
- Accidentally discharged water
- Damage from certain weather conditions
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.
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.
This perk is automatically activated when you use your card. Here’s how it works:
If you don’t find the Bank of America® Premium Rewards® Credit Card appealing, there are other cards that provide this perk.
This feature is available to the main cardholder of the Bank of America® Premium Rewards® Credit Card every time they make a purchase.
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.
The more money you invest, the more cash back you can earn.
You’ll find an auto rental CDW with the Bank of America® Premium Rewards® Credit Card.
There are three ways to activate your Bank of America credit card.
Access cash from your credit line with a Bank of America credit card.
Use your iPhone, iPad or an Apple Watch for in-store purchases.
Compare the features, pros and cons of the two biggest banks in America.
Use your card actively and responsibly to get a credit limit increase.
Choose from over a dozen travel credit cards.
Try Bank of America’s prequalification tool to see customized card offers and your approval odds.
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