Having a Credit Card w/ Cell Phone Protection?

Anonymous · ‎07-16-2017

Hey everyone! I was wondering what you guys think about having a credit card that offers cell phone protection? Currently none of my cards offer it and I was thinking it would be something that would come in handy especially coming from someone who has had their fair share in phone issues.

I was eyeing the Wells-Fargo Cash Wise card and it seems like the best option that also offers a $200 sign-up bonus. What do you guys think? Is it a good idea to have at least 1 card that offers cell phone insurance/protection?

Anonymous · ‎07-16-2017

I don't have one, but I think it's a good idea. Only as long as there aren't any catches or fine print. If it's really as simple as paying your bill each month with the card and being covered for $600 with a small deductible like WF says, I don't see any reason not to get the card.

sunkissed · ‎07-16-2017

Although I do not have a card with cell phone protection, I think it’s a good idea – especially if you’re paying for multiple lines. I suggest reading the fine print on what’s covered to have a full understanding of coverage details like deductibles, exclusions, caps, etc.

thom02099 · ‎07-21-2017

I got the Wells Fargo Propel 365 for that very reason -- cell phone protection. Make my Verizon Wireless payments with that card, have done so since that card was introduced. If you can get a bonus, so much the better.

Anonymous · ‎07-21-2017

@thom02099 wrote:
I got the Wells Fargo Propel 365 for that very reason -- cell phone protection. Make my Verizon Wireless payments with that card, have done so since that card was introduced. If you can get a bonus, so much the better.

Yep I couldn't pass up the Cash Wise $200 promo + the cell phone protection. With how much we invest in our phones these days, I thought this was a no brainer. I'm just trying to be wiser with my apps these days but hey the Garden is my second home now

Sharingan · ‎07-21-2017

@Anonymous wrote:
Hey everyone! I was wondering what you guys think about having a credit card that offers cell phone protection? Currently none of my cards offer it and I was thinking it would be something that would come in handy especially coming from someone who has had their fair share in phone issues.

I was eyeing the Wells-Fargo Cash Wise card and it seems like the best option that also offers a $200 sign-up bonus. What do you guys think? Is it a good idea to have at least 1 card that offers cell phone insurance/protection?

I'm sure it's quite an attractive benefit for some; however, there's an opportunity cost for the cell phone protection for those of us who have cards with ~5% back on wireless service. Personally, I have never lost, damaged, nor had a phone become inoperable in my possession; and I actually couldn't care less what happens to my current phone (iPhone 6+), so I prefer the cash back over protection. I'm not sure if there's a credit card offering both of these features, but I do know the protection is not offered on my current 5% card for the aforementioned category.

longtimelurker · ‎07-22-2017

@Sharingan wrote:
@Anonymous wrote:
Hey everyone! I was wondering what you guys think about having a credit card that offers cell phone protection? Currently none of my cards offer it and I was thinking it would be something that would come in handy especially coming from someone who has had their fair share in phone issues.

I was eyeing the Wells-Fargo Cash Wise card and it seems like the best option that also offers a $200 sign-up bonus. What do you guys think? Is it a good idea to have at least 1 card that offers cell phone insurance/protection?
I'm sure it's quite an attractive benefit for some; however, there's an opportunity cost for the cell phone protection for those of us who have cards with ~5% back on wireless service. Personally, I have never lost, damaged, nor had a phone become inoperable in my possession; and I actually couldn't care less what happens to my current phone (iPhone 6+), so I prefer the cash back over protection. I'm not sure if there's a credit card offering both of these features, but I do know the protection is not offered on my current 5% card for the aforementioned category.

My thoughts exactly. If your cell phone bill is large enough, getting 5% might well be a better choice, as cell phone insurance (not through the carrier) can be faiirly cheap, if you decide you need it. I've only had one need for it, when I damaged my brand new Samsung (a 6 edge +, new at the time, slamming the car door not realizing that my pocket with the phone was in the way!) and then Discover paid for most of it. With deductibles etc, it may make sense to self-insure, and save insurance for big ticket items like cars and houses.

Anonymous · ‎07-22-2017

@thom02099 wrote:
I got the Wells Fargo Propel 365 for that very reason -- cell phone protection. Make my Verizon Wireless payments with that card, have done so since that card was introduced. If you can get a bonus, so much the better.

I wasnt even aware of this until this thread. I'm tempted to add this card(or another with this protection) as the last card of my next rebuild spree. Thanks for the information, I will be watching this thread now...although I am not sure if it's influence will be good on me, lol.

cjesser15 · ‎07-22-2017

I can give my personal experience with this. I used to use my Wells Fargo card for precisely this reason and had a good experience overall. I had 1 claim for a water damaged Samsung Galaxy S5. They do make you jump through some hoops. In addition to paperwork I was required to send in multiple photos and the purchase receipt from the phone. They also made me go to a local repair shop and get an estimate for repairs. Finding a local repair shop that would give me a written estimate was actually very tricky and time consuming. Once I got everything to them, they cut me a check. I want to say it was like $600 minus the small deductible. Had the estimate determined it was fixable I'm sure they would have given me less.

Overall I would recommend it. Was it a hassle? Yes, but it was totally worth it. The only reason I don't use it anymore is my family stopped buying phones directly from the carriers (and last time I checked that is a required, I'd be happy to hear if that has changed). Hope that helps in some way.

bourgogne · ‎07-22-2017

chase ink: 'includes up to $600 of protection against damage or theft, 3 times per 12-month period, after you pay a $100 deductible. That’s up to $500 back toward a replacement' pretty much covers the $95 fee.