Link: Learn more about the Capital One Venture X Rewards Credit Card
This $395 annual fee card marks Capital One’s entry into the premium travel credit card space, and fortunately Capital One did an amazing job. The main reasons you’ll want to get this card are the $300 annual travel credit, 10,000 anniversary bonus miles, Priority Pass membership, Plaza Premium Lounge access, and amazing authorized user perks.
In this post I wanted to take a closer look at the Capital One Venture X cell phone insurance policy, which sets it apart from some other premium credit cards. Let me note up front that you’ll want to consult the full Capital One Visa Infinite benefits guide for all the details, as they’re subject to change, and there are some further restrictions.
In this post:
How the Venture X cell phone protection works
The Capital One Venture X will reimburse you up to $800 in the event that your cell phone is stolen or damaged. This is hugely valuable, given how expensive cell phones are nowadays, and also given how easily they can be damaged. Let’s go over the basics of this coverage:
- This benefit applies if you’re a Capital One Venture X cardholder and you charge your monthly cell phone bill to your card for the billing cycle before the month in which the incident occurs; the coverage applies to all lines listed on the bill
- You can use the cell phone protection benefit up to twice per 12 month period, and you can get up to $800 per claim
- There’s a $50 deductible per claim
- The benefit is supplemental coverage, so it applies when there’s not otherwise coverage by another insurance policy; if you do have another insurance policy, the benefit reimburses you for the deductible
- You can be reimbursed the lesser of the cell phone provider’s suggested retail value of a similar model replacement, or the actual cost to replace the phone
- If your cell phone is stolen as a result of criminal activity, you must file a police report within 48 hours of the event
When does the Venture X cell phone coverage apply?
What is and isn’t covered with the Capital One Venture X cell phone insurance plan? On the most basic level, cell phone protection covers damage to, theft of, or involuntary and accidental parting of your cell phone (this applies when the phone’s location is known, but recovery is impractical). Cosmetic damage isn’t covered by this perk.
When does the Venture X cell phone protection not apply? There’s no coverage for:
- Cell phone accessories, other than the standard battery or antenna provided by the manufacturer
- Cell phones purchased for resale, professional, or commercial use
- Cell phones that are lost or “mysteriously disappear” (meaning that the phone vanished in an unexplained manner without evidence of a wrongful act)
- Cell phones stolen from baggage unless hand-carried
- Cell phones that have been rented, borrowed, or are part of pre-paid type plans
- Cosmetic damage to the cell phone, or damage that does not impact the cell phone’s capabilities and functionalities
How do you file a Venture X cell phone insurance claim?
What’s the process of filing a claim with the Capital One Venture X cell phone protection feature?
- Within 60 days of the date of damage or theft, notify the Benefit Administrator at 1-844-288-2140; you’ll be asked some preliminary questions, and you’ll be sent a claim form
- You’ll have to return the completed, signed claim form and the requested documentation within 90 days of the date of damage or theft
- You’ll have to submit the completed and signed claim form, a copy of your cell phone bill showing that the payment was made with your card, a copy of the device summary page from your cell phone bill to show that the specific phone is linked to your account, and a police report (assuming the claim is due to theft or criminal action)
- The Benefit Administrator may choose to repair or replace your cell phone; generally you’ll be reimbursed within 10 business days of approval of your claim
How does the cell phone coverage compare to other credit cards?
The two biggest competitors to the Capital One Venture X are the Chase Sapphire Reserve® Card (review) and The Platinum Card® from American Express (review). How does the coverage of the two cards compare?
- The Chase Sapphire Reserve doesn’t offer cell phone protection
- The Amex Platinum offers cell phone protection, and the terms are virtually identical — you can get $800 per claim, up to $1,600 per 12 month period, there’s a $50 deductible, and cosmetic damage isn’t covered
For the Platinum Card …
Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period.
- Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.
- Please visit americanexpress.com/benefitsguide for more details.
- Underwritten by New Hampshire Insurance Company, an AIG Company.
Should you pay your cell phone bill with the Venture X?
When deciding which credit card to put your cell phone bill on, you should consider:
- Which card offers the most points per dollar spent on your cell phone bill; since you have to pay your bill with the card to get the coverage, this is a major consideration
- Which card offers the best protection based on your needs, which could include considering the maximum policy coverage, the deductible, etc.
- While some people probably use personal and business cards more interchangeably than they should, you’ll want to be sure you use the correct type of card here; for example, when you file a cell phone protection claim with a business card, you’ll have to confirm that everyone on your bill has a business line, and you don’t want to lie
When you consider all of those factors, I think there’s a compelling case for putting your cell phone spending on the Capital One Venture X:
- While the Venture X doesn’t offer a bonus category for cell phone spending, the card does offer the best return on everyday spending of any card, which I value at a 3.4% return; this is better than the Amex Platinum offering only 1x Membership Rewards points per dollar spent, which I value at a 1.7% return
- There’s not another personal credit card (at least that I know of — correct me if I’m wrong) that offers a better combination of a good return on cell phone spending and such solid coverage
- When it comes to business credit cards, the Ink Business Preferred® Credit Card (review) offers up to 3x Ultimate Rewards points on cell phone spending (which I value at a 5.1% return), and the card also offers cell phone protection, with a limit of $1,000 per claim, and a $100 deductible
I’d love to hear what OMAAT readers think here — is the Capital One Venture X the best personal card for paying your cell phone bill in terms of the combination of the points you can earn and the quality of the coverage, or is there another card I’m missing?
The Capital One Venture X offers a cell phone protection plan, which can help if your phone is stolen or damaged. This plan can reimburse you up to $800 per claim, with a $50 deductible. When you combine the card’s great protection with the solid return on everyday spending, it could be worth putting your cell phone bill on this card.
What do you make of the Capital One Venture X cell phone protection? Do you plan on putting your cell phone bill on this card, or which card do you plan on using?
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.