Does Visa have purchase protection?
Visa offers both purchase protection and purchase security. But whether a Visa credit card comes with either of the two depends on the card issuer. For example, Visa Signature and Visa Infinite cards issued by the following providers offer this perk:
- Chase. All Chase Visa Signature and Visa Infinite credit cards.
- Citi. Most Citi credit cards, including the two Costco cards.
- Wells Fargo. Only the Wells Fargo Visa Signature® Card.
- Bank of America. Only the Bank of America® Premium Rewards® Credit Card.
- Capital One. All Visa Signature versions of the personal cards and all Visa Business cards.
How to use Visa purchase protection
This is a perk that’s automatically activated when you make the purchase. Because of that, using this perk is a simple process. All you have to do is:
- Make an eligible purchase with your Visa credit card.
- Call your card provider’s benefit administrator in case of theft or damage to the purchased item.
- Fill out a claim form.
- Submit the completed form along with any additional documents within 90 days of the occurrence.
- Wait for your claim to be either approved or denied.
Compare Visa credit cards with purchase protection
Visa credit cards with purchase protection
All Visa credit cards come with purchase protection, but not all of them have the same amount of coverage. Before you apply for a card with this perk, make sure you choose the card that best fits your needs.
|Purchase protection||Annual fee||Other benefits|
|Chase Freedom Unlimited®||Up to $500 coverage per claim, $50,000 per account||$0|
|Chase Sapphire Preferred® Card||Up to $500 coverage per claim, $50,000 per account||$95|
|Chase Sapphire Reserve®||Up to $10,000 coverage per claim, $50,000 per account||$550|
|Amazon Rewards Visa Signature Card||Up to $500 coverage per claim, $50,000 per account||$0|
|Costco Anywhere Visa® Card by Citi||Up to $1,000 coverage per item, $50,000 per year||$0 with Costco membership|
|Bank of America® Premium Rewards® Credit Card||Up to $10,000 per claim||$95|
|Wells Fargo Visa Signature® Card||Up to $500 coverage per claim, $50,000 per cardholder||$0|
Who gets to use Visa purchase protection?
This feature is usually available to the cardholder every time they use their Visa card to make an eligible purchase. Since several card providers offer Visa cards with purchase protection, make sure you read the fine print to avoid surprises.
Visa purchase protection can repair your newly-purchased items if they’re damaged, or it can reimburse you in case of theft. Since you don’t have to pay anything extra to use this feature, getting a card with purchase protection is definitely worth considering.
But if you can’t find an attractive Visa credit card with this perk, compare other cards with purchase protection until you find a card that meets your needs.
Frequently asked questions
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