Mastercard purchase protection

With Mastercard Purchase Protection, eligible items bought with your credit card may be reimbursed or repaired if they are stolen or damaged. You can get up to $1,000 per claim if your item is stolen. While this feature doesn’t cost anything extra to use, not every Mastercard credit card offers it.

Does Mastercard have purchase protection?

Mastercard offers purchase protection under the name Mastercard Purchase Assurance. This perk is typically only offered with their World and World Elite Mastercard credit cards. However, it also depends on the card provider and if their Mastercard offers this perk.

You can get coverage against theft and damage for 90 days from the date an eligible item is purchased. The amount of coverage is usually $1,000 per claim and $50,000 in total per lifetime of the account.

How to use Mastercard Purchase Assurance

This perk is automatically activated when you use your eligible Mastercard. Here’s how to use it:

1. Purchase an eligible item with your World or World Elite Mastercard credit card.
2. In case the item is stolen or damaged contact your card issuer (the number on the back of your card) to file a claim. A representative will provide you with the claim form.
3. Submit the completed claim form and any additional documents within 90 days of the occurrence.
4. Wait for claim approval or denial.

Compare Mastercard credit cards with Mastercard Purchase Assurance

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Name	Product	Welcome Offer	Rewards	Purchase Interest Rate	Annual Fee		Min. Credit Score	Description
OFFER Tangerine World Mastercard Tangerine World Mastercard	OFFER	10% cash back	Up to 2% cash back	19.95%	$0	Apply now More Info	Min. recommended credit score: 600	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Compare	loading Fetching your data...
BMO Ascend World Elite Mastercard BMO Ascend World Elite Mastercard		60,000 points	Up to 5x points per $1 spent	20.99%	$0 annual fee for the first year ($150 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 60,000 points and get the $150 annual fee waived in the first year.	Compare	loading Fetching your data...
BMO CashBack World Elite Mastercard BMO CashBack World Elite Mastercard		Up to 10% cash back	1% cash back	20.99%	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.	Compare	loading Fetching your data...
BMO AIR MILES World Elite Mastercard BMO AIR MILES World Elite Mastercard		2,000 Miles	Up to 3 Miles for every $12 spent	20.99%	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Min. recommended credit score: 760	Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year.	Compare	loading Fetching your data...
RBC Cash Back Preferred World Elite Mastercard RBC Cash Back Preferred World Elite Mastercard		N/A	Up to 1.5% cash back	20.99%	$99	Apply now More Info	Min. recommended credit score: 650	Earn unlimited 1.5% cash back on all eligible purchases.	Compare	loading Fetching your data...
BMO World Elite Business Mastercard BMO World Elite Business Mastercard		70,000 points	Up to 4 points per $1 spent	17.99%	$0 annual fee for the first year ($149 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 70,000 BMO reward points. Get 50,000 points when you spend $5,000 in the first three months and an additional 20,000 points when you spend $35,000 in the first twelve months. Plus, get the $149 fee waived for the first year. Valid until December 31, 2023. In addition, get a 0.00% introductory interest rate on balance transfers for 9 months with a 3% transfer fee. Valid until November 30, 2023.	Compare	loading Fetching your data...
BMO AIR MILES World Elite Business Mastercard BMO AIR MILES World Elite Business Mastercard		3,000 Miles	1 Mile for every $12 spent	19.99%	$0 annual fee for the first year ($149 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get 3,000 AIR MILES Bonus Miles when you spend a minimun of $5,000 in the first three months. Plus, get the $149 annual fee waived for the first year.	Compare	loading Fetching your data...
National Bank World Elite Mastercard National Bank World Elite Mastercard		70,000	Up to 5 points	20.99%	$0 annual fee for the first year ($150 thereafter)	Apply now More Info	Min. recommended credit score: 660	To take advantage of this welcome offer, you must not currently hold a personal National Bank Mastercard credit card or have held one in the last 24 months. Earn up to 70,000 points and get the first year annual fee reimbursed. Valid until June 30, 2023.	Compare	loading Fetching your data...
National Bank World Mastercard National Bank World Mastercard		N/A	Up to 2 points	20.99%	$115	Apply now More Info	Min. recommended credit score: 660	Earn up to 2 points for every $1 you spend when you spend over $20,000 per year (and 1.25 points for every $1 before that).	Compare	loading Fetching your data...

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Bottom line

Mastercard purchase protection, called Mastercard Purchase Assurance is a useful tool to protect expensive items, such as a new phone, laptop or designer bag, from theft and damage. Considering it doesn’t cost anything to use this perk, it makes it even more appealing.

But if you don’t find any Mastercard with this perk attractive, compare other cards with purchase protection until you find the right fit for your wallet.

Frequently asked questions about Mastercard Purchase Protection

• Does Mastercard purchase protection cover all purchased items?

  No. In most cases, the following items aren’t eligible for purchase protection:

  • Used or antique items
  • Collectibles of any kind
  • Recycled, previously owned, refurbished, rebuilt or remanufactured items
  • Motorized vehicles, including, automobiles, boats, aircraft and motorcycles or their motors, equipment, or accessories
  • Snowblowers, lawnmowers and hedge trimmers
  • Land, buildings, permanently installed items, fixtures, or structures
  • Traveler’s cheques, tickets of any kind, negotiable instruments, bullion, rare or precious metals, stamps, coins, currency or its equivalent
  • Plants, shrubs, animals
  • Consumables
  • Items purchased for resale, rental, professional or commercial use
  • Professional services, such as labor or maintenance
  • Repair or installation of products, goods, or property
  • Professional advice of any kind, including information/services or advice secured from any help or support line. Also, technical support for software, hardware or any other peripherals
  • Application programs, computer programs, operating software other software
  • Game animals, pets or specimens preserved for display, such as fish, birds, reptiles or mammals
  • Rented, leased or borrowed items
  • Trip, service or diagnostic charges in the absence of any covered repairs or verified failure
  • Shipping charges, transportation and delivery charges

• Are items purchased with points eligible for Mastercard purchase protection?

  In most cases, eligible purchases made with points are covered with purchase protection, but just in case, check with your card’s guide to benefits.