No, the Capital One Platinum Credit Card does not have return protection coverage. Return protection is a benefit that offers reimbursement for undamaged, working items purchased with a credit card that cannot be returned to the merchant within a certain number of days of purchase. This benefit is becoming rarer as time goes on, however, as many issuers have dropped it to cut costs.
Capital One purchase protection covers things you purchase entirely with your Capital One card from theft or damage for the first 90 days after the purchase. They will replace, repair or reimburse you up to the original purchase price. The maximum amount per claim/cardholder depends on the type of credit card and its network.… read full answer
Types of Cards with Purchase Protection
Capital One’s purchase protection benefits depend on the tier of your Capital One Mastercard or Visa. For example, Capital One’s Visa Signature, Visa Professional, and Visa Business credit cards have this benefit. On the Mastercard side, Capital One’s World, World Elite, World Elite Business, and Business Platinum Mastercards offer purchase protection. The tiers without purchase protection include Visa Platinum and Platinum Mastercard. The tier you get generally depends on your creditworthiness at the time you apply for a card.
To see which kind of Capital One card you have, flip the card over. You’ll see the Visa or Mastercard logo, and “Signature,” “Platinum,” “Business,” etc., will be written above or below the logo. But keep in mind that just because you have one of those cards doesn’t mean your card has the purchase protection benefit, though.
Here is more info about the Capital One purchase protection coverage:
What is covered: Some examples of what’s covered by Capital One’s purchase protection include items purchased with your Capital One card that are stolen, damaged by fire or vandalism, or affected by “certain weather conditions.”
What is not covered: The list of what’s not covered is extensive and specific: perishables, software, plants and animals, collectibles, used items, items stolen from vehicles or common carriers or checked luggage, and “lost” items that have disappeared without evidence of a wrongful act, among other things.
Coverage amount: The maximum amount that you will get depends on the tier of your Capital One Mastercard or Visa. But it can vary between $500 to $10,000 per claim.
It’s important to note that many credit card benefits, like purchase protection, have been getting cut from benefits packages in recent years. The information above is correct right now, but could quickly change. If you plan on getting one of these credit cards, refer to the benefits booklet that comes with your new card for the most accurate information. You can also look up your card’s benefits on the Capital One website.
Mastercard return protection reimburses the cardholder for undamaged, working items that cannot be returned to the merchant within 60 days of purchase. The Mastercard return protection benefit, which Mastercard calls a “Satisfaction Guarantee,” reimburses up to $250 per claim. It’s important to note that this benefit is not available on all Mastercard credit cards – just cards where the issuing financial institution chooses to include it.… read full answer
If your Mastercard includes return protection, the exact details of the coverage will be in the benefits guide that you received after approval. One key thing to note is that eligible items must come from a store that has a policy allowing customers to return or exchange items for at least 10 days after the date of purchase. In addition, you will need to provide the original store receipt and credit card statement showing the purchase in order to file a claim.
You can file a Mastercard return protection claim online or by calling Mastercard toll-free at 1-800-627-8372.
Visa return protection covers cardholders who want to return eligible purchases worth $300 or less, provided the original merchant won’t accept a return. By notifying the Visa return protection Benefit Administrator of the issue within 90 days of the purchase, covered Visa cardholders can start the process of getting a refund. To complete their request, cardholders must submit a completed claim form along with supporting documentation within 30 days of notifying the Benefit Administrator.… read full answer
How to Use Visa Return Protection
File a claim with any other insurance policy that might cover the product. Visa’s return protection benefit is secondary insurance, covering only what other applicable insurance won’t. If an alternate insurance plan reimburses you for the full price of the product, the Visa return protection benefit will not apply.
Call 1-888-221-3289 or go to the Card Benefit Services center to file a claim with Visa. You’ll likely need the merchant’s return policy, an itemized receipt, and the Visa card’s billing statement from the month of the purchase.
Follow the Benefit Administrator’s instructions for shipping the item. Card Benefit Services must receive the item in good working condition before a claim can be approved. The item must also be in its original packaging with any owner’s manuals and warranty information included. You are responsible for all shipping costs.
There are many eligibility restrictions and other guidelines for filing a claim, so refer to the benefits guide that came with your card to determine whether return protection covers your purchase.
Return protection is a standard benefit for Visa Infinite credit cards, Visa’s highest consumer card tier. That said, each bank and credit union that issues credit cards on the Visa network decides whether to include this network benefit on its cards. It is therefore possible to find return protection on traditional Visa, Visa Signature, and Visa business cards. It’s also possible that a particular Visa Infinite card won’t have it. You can always call a card’s issuer to ask whether the benefit is provided, though.
The best Visa credit card for return protection is the Chase Sapphire Reserve® card because it offers $500 worth of protection per item rather than the standard $300. The Chase Sapphire Reserve® card also comes with a $550 annual fee, but if you take advantage of all its perks, the benefits still outweigh the costs.
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