Capital One purchase protection covers eligible purchases in case of damage or theft up to the original purchase price, for a total of $500-$10,000 per claim, for 90 days after the purchase date. The claim limits depend on which Capital One Visa or Mastercard you have. A little less than half of all Capital One credit cards provide purchase protection, which is called Purchase Security in Capital One Visa terms, or Purchase Assurance for Capital One Mastercards. Some of these cards include Quicksilver, Venture, and VentureOne.
Just because you have one of those cards doesn’t mean your card has the purchase protection benefit, though. 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 have it. The tiers without purchase protection include Visa Platinum and Platinum Mastercard, and 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.
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.” On the other hand, 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.
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.