Vault’s Viewpoint
- The Ink Business Preferred Credit Card is one of several credit cards with cellphone protection coverage benefits.
- I used this lesser-known credit card benefit to save more than $300 on phone repairs.
- If you’re on the hunt for cellphone protection, there are a few additional cards with this perk to consider.
Why I Own the Chase Ink Business Preferred Credit Card
As a small business owner, the Chase Ink Business Preferred Credit Card has proven to be a valuable rewards credit card. Outside of its cellphone protection benefit, here are a few reasons why I continue to use this business credit card year after year:
- It has an affordable annual fee: I appreciate that the yearly fee for this card is $95. Considering all the perks provided and rewards opportunities, this is a reasonable yearly charge.
- Earns rewards in popular business purchase categories: The Ink Business Preferred earns 3X points on up to $150,000 in spending each account anniversary year in several purchase categories (then 1X points). This includes shipping purchases, advertising purchases made with social media sites and search engines, internet, cable, and phone service purchases and travel. I like earning rewards when swiping my card for my everyday business expenses.
- It pairs nicely with other Chase credit cards: I also have the Chase Sapphire Reserve® in my wallet. This means I can pool rewards earned with my Ink Business Preferred into my Sapphire Reserve account and get more value from my points when booking through Chase Travel℠.
How I Saved Over $300 With the Chase Ink Business Preferred
The perks listed above aren’t the only card features that I appreciate. Let me explain how I saved over $300 with another valuable card benefit.
I’m clumsy, so it’s common for me to drop my phone. But some drops are more disastrous than others. After one drop, the outer shelf of my phone and its screen were significantly damaged.
Thankfully, I always pay my mobile phone service bill with my Chase Ink Business Preferred Credit Card, so I felt confident that I was protected financially. The Ink Business Preferred includes cellphone protection coverage, offering reimbursement for eligible phone damage, theft and involuntary and accidental parting claims.
After realizing my phone was damaged, I took it to an authorized repair center for a quote for the required repairs. I then submitted an official claim and necessary documentation online through the claims company that managed my credit card benefits and awaited a reply.
After reviewing my claim and documentation, it approved the repairs and sent me a reimbursement check, minus the deductible, to cover the repair bill. I then returned to the authorized repair center to get my phone repaired. This perk saved me around $320.
Chase Ink Business Preferred Cellphone Protection: How It Works
The Ink Business Preferred Credit Card includes up to $1,000 worth of cellphone protection coverage for each claim. A $100 deductible applies to each claim, and cardholders can make three claims within a 12-month period. Coverage applies to eligible theft, damage or involuntary and accidental parting claims.
You’re eligible for this coverage if you pay your cellphone service bill with your Ink Business Preferred Credit Card. Don’t miss this critical detail. If you pay your bill through your checking account or with another credit card, you’ll be ineligible to make a claim.
You must notify the benefits administrator of damage, theft or involuntary and accidental parting within 60 days of the incident. If theft occurs, you must also file a police report within 48 hours of the occurrence.
Further, you must provide documentation and submit a claim within 90 days. If your phone needs to be repaired, you’ll be asked to take it to an authorized repair center for an estimate, which you’ll submit to the claims administrator.
You can start the claims process online at cardbenefitservices.com.
Other Cards That Offer Cellphone Protection
The Ink Business Preferred isn’t the only credit card with this type of protection. Here’s an overview of a few other credit cards with this coverage:
Chase Freedom Flex®
The Chase Freedom Flex has no annual fee and earns 5% cash back on activated, rotating purchase categories (on up to $1,500 in combined spending per quarter). You’ll also earn 3% on dining and drugstore purchases and 1% back on all other purchases made with your card. Plus, you’ll earn 5% back on travel booked through Chase Travel.
The Chase Freedom Flex provides $800 per claim and $1,000 in coverage in cellphone protection benefits per year for eligible theft and damage claims. This protection applies to cellphones listed on your monthly cellphone bill that you pay with your Chase Freedom Flex. A maximum of two claims can be made in 12 months, and a $50 deductible applies to each claim.
Capital One Venture X Rewards Credit Card
The Capital One Venture X Rewards Credit Card earns travel rewards and is packed with perks like complimentary airport lounge access and an annual $300 travel credit for eligible bookings made through Capital One Travel.
This travel credit card also includes cellphone protection coverage for eligible theft, damage or lost phone claims. It covers up to $800 per claim, subject to a $50 deductible per claim. A maximum of two claims can be made per 12-month period.
Wells Fargo Autograph℠ Card
The Wells Fargo Autograph has no annual fee and earns unlimited 3X points in various bonus spending categories, including travel, gas and restaurants, plus 1X points on purchases outside the bonus categories.
This card includes cellphone protection worth up to $600 per claim for eligible damage or theft claims, subject to a $25 deductible. Up to two claims can be made within a 12-month period.
Frequently Asked Questions
What is Cellphone Protection on a Credit Card?
Some credit cards include cellphone protection, which typically offers reimbursement for the expenses associated with repairing or replacing a damaged or stolen mobile phone. Coverage is available up to a set dollar amount. To use this credit card benefit, you must file a claim, pay a deductible and pay your cellphone service bill with your card.
Who Can Use Business Credit Cards?
You can typically apply for a business credit card if you earn self-employment or business income. This includes freelance workers and gig workers.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
