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Update: American Express has confirmed to me that you must pay your entire monthly bill on one eligible card in order to qualify for this policy. Unfortunately that means you can’t take advantage of the 2021 monthly wireless credits on a card like Hilton Business, Delta Gold Business, or Marriott Business and put the rest of the bill on an eligible card, as the split payment would invalidate coverage.
Eligible cards include the:
- Consumer Platinum Card, including co-brand variants from Ameriprise, Goldman Sachs, Morgan Stanley, and Schwab.
- Business Platinum Card
- Delta Platinum Consumer Card
- Delta Platinum Business Card
- Delta Reserve Consumer Card
- Delta Reserve Business Card
- Consumer Centurion Card
- Business Centurion Card
It’s a curious portfolio of cards, as it leaves out comparable premium co-brand options like the Hilton Aspire card and the Marriott Brilliant card. Also excluded are premium cards like the Consumer Gold Card and the Business Gold Card.
You are eligible for $800 of coverage for a damaged or stolen phone if you paid the previous month’s cell phone bill on your eligible card.
Screen cracks are covered under this policy. Small cracks are something typically excluded from other cell phone protections offered by credit cards.
A $50 deductible applies and you can make up to 2 claims per 12 month period, per eligible card.
Coverage won’t apply if you have other cell phone insurance that will cover the phone.
If you charge your cell phone bill to your card, coverage kicks in on the 1st day of the subsequent month and continues until the last day of the subsequent month.
The language says that “You must charge your monthly Eligible Cellular Wireless Telephone bill to your Eligible Card Account.” However it’s unclear if you have to charge the full monthly bill to your card, or if a partial payment would also qualify. We may have to wait until someone tries it out to know for sure. I reached out to American Express for clarification but have not yet received a response.
Unfortunately these cards don’t normally offer bonus points on wireless spending, so there’s an opportunity cost to taking advantage of this insurance.
However the Delta Platinum Business AMEX is currently offering a $15 monthly wireless credit and the Delta Reserve Business Card is currently offering a $20 monthly wireless credit through the end of 2021, so that helps make up for the loss of points.
Additionally, the Business Platinum Card has an AMEX Offer to earn at least 5 points per dollar spent on wireless services, up to 80K bonus points, through 6/30.
The Chase Ink Preferred Card offers 3 points per dollar on wireless spending and offers cell phone protection, though coverage on that card is limited to $600 per claim and a $100 deductible applies.
Usage of that card also comes at an opportunity cost, as the Ink Business Cash® Credit Card Card offers 5 points per dollar on wireless spending, though it doesn’t come with cell phone protection.
Either way, it’s great to see AMEX continue to add protections in an era where banks like Citi are stripping them away.
Will you use your AMEX card for cell phone insurance?