Capital One Venture X Cell Phone Protection Details

Now is the time to apply for the Capital One Venture X rewards credit card.

There are a lot of things to understand about the Capital One Venture X rewards credit card.

Capital One did an amazing job in entering the premium travel credit card space. The main reasons to get this card are the $300 annual travel credit, 10,000 anniversary bonus miles, Priority Pass membership, and amazing authorized user perks.

I wanted to take a closer look at the Capital One Venture X cell phone insurance policy because it is different from other premium credit cards. It is recommended that you consult the full Capital One Visa Infinite benefits guide for all the details as they are subject to change and there are some further restrictions.

How the Venture X cell phone protection works

If your cell phone is stolen or damaged, the Capital One Venture X will give you a reimbursement of up to $800. This is important because of how expensive cell phones are and how easy they can be damaged. Let's take a look at 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?

The Capital One Venture X cell phone insurance plan doesn't cover some things. Damage to, theft of, or accidental parted of your cell phone is covered by cell phone protection on the most basic level. This perk doesn't cover cosmetic damage.

The Venture X cell phone protection isn't always applied. There isn't any coverage for this.

• 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?

The Capital One Venture X cell phone protection feature can be used to file a claim.

• 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?

Two of the biggest competitors to the Capital One Venture X are the Chase and American Express cards. The two cards have the same coverage.

• 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

Should you pay your cell phone bill with the Venture X?

You should think about which credit card to use when putting your cell phone bill on.

• 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

The Capital One Venture X is a good place to put your cell phone spending.

• 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 want to know if the Capital One Venture X is the best personal card for paying your cell phone bill in terms of the combination of points you can earn and the quality of coverage, or if there is another card that is better.

Bottom line

If your phone is lost or stolen, the Capital One Venture X can help. You can be reimbursed up to $800 per claim with a $50 deductible. If you combine the card's great protection with the solid return on everyday spending, it could be a good idea to put your cell phone bill on this card.

What do you think about the Capital One Venture X? Are you going to use this card for your cell phone bill or something else?