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Does Mastercard have purchase protection?

Eligible items may be covered against damage or theft.

Kliment Dukovski
Kliment Dukovski

Updated

With 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 credit card offers it.

Does Mastercard have purchase protection?

Mastercard offers purchase protection under the name purchase assurance. This perk is typically offered to World Mastercard 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 to 120 days from the date an eligible item is purchased. The amount of coverage is often $1,000 per claim and $50,000 in total per calendar year. This beats Chase’s Visa Signature cards that offers $500 per claim. But it’s less than the $10,000 per claim on Chase Visa Infinite credit cards.

How to use Mastercard purchase protection

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

  1. Purchase an eligible item with your Mastercard credit card.
  2. In case the item is stolen or damaged call 800-627-8372 or file a claim online at us.mycardbenefits.com.
  3. Submit the completed claim form and any additional documents within 90 to 120 days of the occurrence, depending on the card and the state you live in.
  4. Wait for claim approval or denial.

Compare credit cards with purchase protection

Note that when you apply for a credit card, some card providers may approve you for Visa Signature or World Mastercard versions of the same card, both of which should offer this perk.

Name Product Filter values Rewards Purchase APR Annual fee
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases
0% intro for the first 12 months (then 13.99% to 23.99% variable)
$0 intro annual fee for the first year ($95 thereafter)
Apply now
View details
Perfect for families: Get up to 6% on everyday purchases and a welcome offer worth $300. This heavy-hitter rewards card has uncontested value. Rates & fees
Blue Cash Everyday® Card from American Express
Blue Cash Everyday® Card from American Express
20% at Amazon.com up to $200 back in the first 6 months, 2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases
0% intro for the first 15 months (then 13.99% to 23.99% variable)
$0
Apply now
View details
This everyday cashback card is ideal for Black Friday and holiday shopping with 20% back at Amazon.com up to $200 back in the first 6 months. Rates & fees
Chase Freedom Flex℠
Chase Freedom Flex℠
5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases
0% intro for the first 15 months (then 14.99% to 23.74% variable)
$0
Apply now
View details
Get up to 5% cashback in rotating and newly added everyday categories. The refreshed Freedom Flex card has lots of earning potential.
American Express® Gold Card
American Express® Gold Card
3x points on directly-booked flights; 4x at restaurants; 4x at US supermarkets on up to $25,000 annually (then 1x points)
$250
Apply now
View details
Earn up to 4x points on select purchases, a bevy of travel perks, and a welcome offer worth up to $600 with this upper-mid tier travel card. Rates & fees
American Express Cash Magnet® Card
American Express Cash Magnet® Card
1.5% cash back on all purchases
0% intro for the first 15 months (then 13.99% to 23.99% variable)
$0
Apply now
View details
With 1.5% back on everything and a 15 months intro APR on purchases, this no-annual-fee rewards card makes it simple to earn more rewards. Rates & fees
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Compare up to 4 providers

Who gets to use Mastercard purchase protection?

In most cases, eligible purchases made with your Mastercard get purchase protection by default. This could vary between providers, so make sure to read your card’s guide to benefits to avoid any surprises.

Bottom line

Mastercard purchase protection 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.

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