Mastercard Phone Protection - Jan 2022

[flash3]

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@4sallypat wrote:

So is there a thread of which MC issuers / banks offer the cell phone protection starting this year ?

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@4sallypat 

The Sallie Mae Evolve 2% card offers cell phone insurance as I far as I know.

The SOFI world elite 2% mastercard offers cell phone insurance.

All TD Bank credit cards have cell phone insurance as far as I know (2% cashback version or 3% dining version).

Well Fargo 2% card also offers it.

Deserve EDU credit card

[4sallypat]

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@flash3 wrote:

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@4sallypat wrote:

So is there a thread of which MC issuers / banks offer the cell phone protection starting this year ?

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@4sallypat 

The Sallie Mae Evolve 2% card offers cell phone insurance as I far as I know.

The SOFI world elite 2% mastercard offers cell phone insurance.

All TD Bank credit cards have cell phone insurance as far as I know (2% cashback version or 3% dining version).

Well Fargo 2% card also offers it.

Deserve EDU credit card

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Thanks @flash3 

I just found out my recently acquired Hawaiian Airlines World Elite MC by Barclays will cover the cell phone replacement up to $800 with a $50 deductible!

[Beast26]

Can someone explain briefly to me what is good about cell phone coverage and how it works?  Im not too familiar with the actual benefits of a lot of cards yet.

[longtimelurker]

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@Beast26 wrote:

Can someone explain briefly to me what is good about cell phone coverage and how it works?  Im not too familiar with the actual benefits of a lot of cards yet.

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Just a type of insurance.    In most of the policies, if you pay the whole of your cell provider bill the prior month, and your phone gets damaged or stolen (but not simply lost) they will pay for repairs or replacement, up to a limit and after a deductible.     As with any insurance, lots of restrictions (most commonly, if the screen is only cracked "a little" and the unit can still make and receive calls, you may be out of luck).

Insurance from the carrier is often very expensive (although may include lost phones) so having some version for "free" seems good. 

But now the Max Cash MC has dropped it, you have to consider the cost of paying the bill with a non-optimal credit card (should I get 5x on Cash+/Max Cash and no insurance, or 2x with insurance on say Wells Fargo)   Similarly with paying through a carrier: yes, new phones can be very expensive, but how likely am I to damage it AND get successfully reimbursed!

[4sallypat]

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@Beast26 wrote:

Can someone explain briefly to me what is good about cell phone coverage and how it works?  Im not too familiar with the actual benefits of a lot of cards yet.

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Instead of just paying your cell phone direct from your debit / checking account, why not get some: points, cash back, miles or meet a new card's SUB each month by leveraging a credit card plus get the additional insurance.

I had been using my personal Amex Plat each month to pay the cell phone as Amex uses AIG to insure the cell phones on my plan.

Using Amex I get MR points which I use to travel.

So far AIG has been very good to others who have used the insurance.

Amex has a $800 max coverage with $50 deductible.

This thread made me check for other cards that have this type of coverage and found my Barclay's WEMC has the same insurance (AIG, coverage, and deductible) so I am switching to them as I need to reach a spend SUB in order to get my miles.

[IaBoy62]

Get Cellular Phone Protection At No Additional Cost Starting 1/1/22 Starting January 1, 2022, all BMO customers will automatically receive Cellular Phone Protection at no additional cost when paying your monthly cellular phone bill with your BMO Harris Mastercard! Visit https://www.bmoharris.com/main/personal/credit-cards for more information, terms & conditions.

This was on my paper statement for my BMO Harris Platinum Mastercard.....I think it's the only card I have with cell phone insurance anymore but it was a nice sight to see!

[IaBoy62]

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@IaBoy62 wrote:

Get Cellular Phone Protection At No Additional Cost Starting 1/1/22 Starting January 1, 2022, all BMO customers will automatically receive Cellular Phone Protection at no additional cost when paying your monthly cellular phone bill with your BMO Harris Mastercard! Visit https://www.bmoharris.com/main/personal/credit-cards for more information, terms & conditions.

This was on my paper statement for my BMO Harris Platinum Mastercard.....I think it's the only card I have with cell phone insurance anymore but it was a nice sight to see!

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Says they pay up to $400 with no mention of deductible.

[OmarGB9]

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@IaBoy62 wrote:

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@IaBoy62 wrote:

Get Cellular Phone Protection At No Additional Cost Starting 1/1/22 Starting January 1, 2022, all BMO customers will automatically receive Cellular Phone Protection at no additional cost when paying your monthly cellular phone bill with your BMO Harris Mastercard! Visit https://www.bmoharris.com/main/personal/credit-cards for more information, terms & conditions.

This was on my paper statement for my BMO Harris Platinum Mastercard.....I think it's the only card I have with cell phone insurance anymore but it was a nice sight to see!

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Says they pay up to $400 with no mention of deductible.

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No deductible is nice, but $400 is nothing compared to today's phone prices.

[summerterrace]

I can confirm that all Navy Federal credit cards are dropping cell phone protection effective 2/1.  My guess is that way too many claims were being filed for the insurance to be profitable.  Chase is keeping it so far on the Freedom Flex but that's a 1x category.  

[TimFlorida]

I received an e-mail on 12/20/2021 that Chase is increasing the coverage on the Business Preferred Ink card (that is a Visa).