@Callandra wrote:I agree with the above posts -- what is more important to you, the warranty and peace of mind or the cashback? Also, does your phone come with any kind of warranty (sometimes phones come with a 1 year warranty)? I personally have never lost or broken a phone (*knocks on wood*) so I'd take the cashback but I can understand if someone would rather have the warranty. Definitely check the card's T&Cs to see what (or if) phones are covered and to what extent. You can probably also buy a warranty from the retailer for the phone and that might be a better deal (and cover more). Another thing to consider is how long do you plan to use the phone? I usually plan to keep my phone for two years and if it's still fine after the one year warranty is up, it'll probably be okay for another year.
I'm pretty sure the amex warranty does not even kick in until after the original warranty expires. So if you have a warranty from the manufacturer or whatever for a year then you wouldn't even be dealing with amex in the first year. Also while I do not see anything excluding cell phones in the terms I do see an exclusion for items still under installment billing. So then under that language it could be excluded if you were buying the phone via a cell phone contract instead of all at once. I have heard they do not enforce this provision when it comes to cell phones but you should be on notice just in case. Again don't rely on what is said here, because I think the warranty can vary depending on the card you are using.
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I was just reading an article and it mentioned this card. I'm not recommending this card or anything and there is a $95 AF that is not waived the first year, but for those who use AT&T with a 2k initial spend (which can include the spend on the phone itself) they can get $650 back which can be applied to the purchase of the AT&T phone.
They also get 3x TY points on AT&T purchases as well as TY points for travel/tretail websites. The card also provides warranties for the phone that include damage and theft for 90 days to six months depending on where you live and an one year extended warrant. Spend 10k on the card in a year and they will give you an extra 10k TY points. Again not recommending this card, but just thought I would throw this out there. There is another credit card which I forget the name of that if pay your phone bill with it you get protection from damange and theft I believe even if you didn't buy the phone with the card. My memory is hazy on that though.
https://www.citi.com/credit-card-details/citi.action?ID=citi-att-access-more-credit-card
@OmarGB9 wrote:
^WF Platinum Visa?
Yes its the wells fargo card and it works with family plan phones as well and can be $575 back a year on stolen/damaged phones. However, lost phones are not covered and its supplemental to home owner's insurance etc.. Also, about the AT&T card I should have noted you just need to buy the phone there but since its not under contract you can choose another wireless provider. Again not recommending any of these cards, but for certain people these cards might fill a nice niche, especially with heavy online shoppers with the at&t card if they do their online shopping on non-cat spend and can use TY points or maybe the wells fargo for people with families who want multiple phones protected for theft/damage. Anyone who is interested should look into the specific details behind the cards to make sure they are getting what they want.
I had forgotten all about the "Cellular Telephone Protection" offered by Wells... 'shout out' to OmarGB9 for the reminder!
https://www.wellsfargo.com/credit-cards/features/cell-phone-protection/
I know it doesn't cover 'lost' phones, but if my phone ever comes up missing, there will be a police report - there's just too much mischief possible. Actually, unless I drop it in a lake (and can't jump in after it) I will always assume it's stolen anyway. I can't imagine what "proof" Wells would require other than a police report, so other than my hypothetical lake scenario I would be covered... if I only had a Wells Fargo card. 
Maybe now I've got a reason to finally accept one, after years of turning them away every time I call in about my checking.
(That's only a "maybe"... I'm still not super-impressed with their offerings...)
