Lost & Paid: The Credit Cards That Get Your Money Back
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Purchase Protection
highlights the importance of purchase protection benefits offered by credit cards, especially for high-value items. American Express Gold card stands out with coverage up to $10,000 per purchase and $50,000 annually, even covering items bought with loyalty points 1. If insurance doesn't cover a loss, Amex steps in to cover the remainder, provided you file a claim within 30 days and have proof of loss 1.
If you make a purchase and you're unhappy with the product or you don't receive it at all, call your credit card company and ask for a chargeback.
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Chase Freedom Unlimited offers less generous protection, covering up to $500, but allows 120 days to file a claim 2.
Extended Warranty
Extended warranty perks are another valuable feature of credit cards, as explains. These perks extend the manufacturer's warranty by an additional year, with American Express offering up to five years of coverage 1. This can be particularly beneficial for expensive electronics like a PlayStation 5, where the warranty can be extended from one to two years 1.
Much like purchase protection, extended warranty is designed to protect your bigger and more important purchases.
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Visa and Chase also provide similar benefits, adding an extra year to warranties up to three years 1.
Travel Protection
Travel protection is a standout feature of certain credit cards, offering peace of mind for travelers. notes that cards like Chase Sapphire and Amex provide up to $10,000 for trip cancellations or interruptions 1. They also cover up to $3,000 for lost luggage and offer daily compensation for delayed baggage 1.
These cards offer varying amounts of insurance on rental cars as well, and accident insurance up to 500 grand.
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Such benefits make it advantageous to book all travel expenses on one card, maximizing the protection offered 1.