• Credit Card Purchase Protection

    If you have purchased a latest phone or laptop and it gets stolen or lost, there is not much you can do about it. But, if you have purchased the phone or the laptop with your credit card, you will have the purchase protection and you will be able to reimburse for the stolen, lost or damaged items.

    What is credit card purchase protection?

    When you buy an expensive product, you are on your own if it is lost or stolen. Most of the products don’t give an insurance. You can buy one on your own if you want and it will cost you a little extra. But, if you choose to buy the high ticket item with your credit card, you will be covered through the purchase protection which usually is complimentary.

    Some credit card providers offer purchase protection for a limited time depending on the credit card there will be difference in the duration and coverage. Purchase protection gives protection in case the item purchased through credit card is stolen.

    How does it work?

    Credit card purchase protection safeguards the credit card purchases for a certain period. The protection usually lasts for up to 90 days from the date of purchase. There is a limit on the coverage which differs from the type of credit card you have. The Platinum card’s purchase protection will be different from that of the Infinite or Signature. It is important that you check your coverage limit before you apply for a credit card. Some credit cards will have exclusions on the items and it may not be covered under the purchase protection. The exclusions include traveller’s cheques, plants, perishable items and consumables.

    MasterCard offers purchase protection for World or Platinum credit cards. Visa on the other hand offers it for Infinite, Signature and Platinum credit cards. American Express offers purchase protection for all their cards.

    Following are the providers list and the aggregate limit and the limit per occurrences offered in the UAE:

    Provider Aggregate limit Limit per occurrence
    AMEX Gold AED148,800 AED5,505
    AMEX Platinum AED183,500 AED7,340
    Visa Infinite AED73,400 AED25,690
    Visa Signature AED73,400 AED22,020
    Visa Platinum AED73,400 AED18,350
    MasterCard World AED73,400 AED11,010
    MasterCard Platinum AED18,350 AED7,340

    How to Claim?

    To be able to claim for the purchase protection, you must first review your credit card benefits statement and check if you are eligible for the reimbursement. If there is a primary insurance policy, you will have to file a claim there first and then approach your credit card issuer.

    You will need to submit the following while you are applying for the claim:

    • Copy of the credit card statement with the purchase.
    • Receipt from retailer showing the purchase.
    • Police report for the theft.
    • Claim settlement copy from the primary insurance company.
    • Copy of primary insurance declaration.

    You will be asked to ship the damaged goods to the provider and the provider will review and reimburse the claim. This is usually done within 7-14 working days.


    The first thing you need to do is check your credit card purchase protection duration and coverage. You must be aware of the exclusions for the same. You must also keep the credit card statements that have your purchase record safely along with the original purchase receipt.

    You must also file for the claim as soon as you find out about the theft or damage. Use your credit card to make big ticket items purchase as you get additional protection for a certain period of time.

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