The U.S. Bank Platinum does not have purchase protection. This is pretty common, unfortunately. Only around half of the major credit card issuers still offer purchase protection on at least one of their credit cards.
Although the U.S. Bank Platinum doesn’t have purchase protection, applying could still make a lot of sense in the right situation. The U.S. Bank Platinum has cell phone protection and a $0 annual fee. All in all, the U.S. Bank Platinum is a good card for people who are looking to finance a purchase or pay off a balance.
If you’re set on finding a good credit card for purchase protection, consider checking out the Chase Freedom Flex℠ or the Chase Sapphire Reserve®. Both credit cards have great purchase protection coverage, according to the most recent WalletHub purchase protection study.
Visa purchase protection is a credit card benefit that covers stolen or damaged items bought with an eligible Visa credit card for 90 days following the purchase date. Purchase protection on a Visa can repair, replace, or reimburse eligible products, providing up to $10,000 in coverage per claim and $50,000 per year.… read full answer
It’s possible to get purchase protection, also called purchase security, on Visa consumer or business cards, but only when the issuer has included the benefit with the card. No matter which Visa card you have, you can call the number on the back of your card to speak with a representative about your card benefits. You should ask about the coverage timeframe, product eligibility, and other details, given that not all Visa cards that offer purchase protection will follow Visa’s standard policy.
How to Use Visa Purchase Protection
File a police report, if necessary. If the item was stolen, you’re required to file a police report within 48 hours of becoming aware of the theft. You don’t need to file a police report for damaged items that aren’t stolen.
File a claim with any other insurance provider. If your other forms of insurance might cover the purchase, you must file claims with them first.
Contact the Benefit Administrator within 60 days of the theft or damage. You can reach the Benefit Administrator at 1-888-221-3289.
Submit required claim forms within 90 days. Submit all claim forms required by the Benefit Administrator, including record of any settlements with other insurance companies, within 90 days of the theft or damage.
Collect compensation. If your claim is valid, Visa purchase protection will compensate you, up to your policy maximum.
As you might expect, there are a lot of eligibility restrictions that accompany Visa purchase protection. Items like motorized vehicles and computer software, for example, won’t be covered. Refer to the benefits guide that came with your Visa credit card for further information on these exceptions.
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