Capital One Venture X Rewards Credit Card Cell Phone Protection - Our Phone Claims
Some credit card benefits aren’t always at the center of attention but can bring you huge value. For us, this one one credit card benefit has paid for this card’s annual fee many times over.
The card I’d like to highlight today is the Capital One Venture X Rewards Credit Card. One great benefit of the Capital One Venture X Rewards Credit Card is their Cell Phone Protection benefit. This Cell Phone Protection Benefit applies when you pay your monthly cellphone bill with the Venture X.
The Cell Phone Protection Benefit
If you pay your monthly cell phone bill with this card, you are eligible to file a claim on your cellphone, or any cellphone on your, plan up to twice a year. Each claim has a maximum payout rate of $800. The amount of payout depends on factors such as damage and age of device. This secondary benefit covers you if your phone is stolen or damaged and the claim needs to be filed within 60 days of the incident. I used the term secondary because if you have any other form of insurance for that device, it must go through that coverage first. There are certain terms, conditions, and exclusions to be aware of. View the full terms here.
Important notes: If your cellphone was stolen due to criminal activity, you MUST file a police report within 48 hours of the event. There is a $50 deductible per claim that you’re responsible for.
Our Claim and Things You’ll Need
Our Samsung S21 Ultra fell in a away that cracked the LCD and caused the screen to be partially unusable. Since a LCD replacement can be expensive, we decided it is worth a call to Capital One to file a claim. Since we didn’t have any additional insurance coverage on the phone, Capital One would be footing the full bill if it was approved.
You can file a claim online here or call the Capital One Benefit Administrator at 844-288-2140. We were told that we had 90 days to send in a few things which include:
Completing and signing the claims form which asks for basic information and description of incident
A diagnostic from a repair shop of your choice which describes the specific phone, the phone’s IMEI, and their summary of estimated repair cost
Copy of your cellphone bill which shows the Venture X being used to pay the bill
Proof that the specific phone is linked to your cellphone plan/bill
Your phone’s serial number
The last billing cycle from Capital One showing the phone bill was charged to your card
Of course, with insurance, there’s always a little time and work that is required from your end but it worked out well for us. From the start of the claim to when it was approved, it took about three weeks. Capital One approved $365 for the screen replacement which was based off of the diagnostic report generated from our local repair shop. The only out of pocket cost we paid, which was not covered, was the $25 which the repair shop charged us for the “diagnostic”.
Very important note: When your claim is approved, you have TWO DAYS to move the approved claim amount over from Capital One to your bank account. DO NOT MISS THIS WINDOW.
Our Second Claim - Got A New Phone
The Samsung S21 Ultra inevitably got another crack on the front screen and one of the cameras was going out. We went through the same process which included all the documentation above from our first claim but this time the claim was approved much faster. We were only approved a little under $400 for our claim which included a front screen replacement and a camera replacement. Our second claim was less than we expected because they said the Samsung S21 Ultra was an older device (three year old device).
However, instead of going through with the repairs this time, we decided to keep the almost $400 and upgrade the phone to a new Google Pixel 8 Pro. With the current promotions at the time and the $400 from the insurance claim, we essentially got a new phone for 50% off.
Was This Benefit Worth It?
Absolutely. We would go through this process again if we needed to (which we did). With cellphones costing well over $1,000 these days, knowing that we have this Cell Phone Protection via Capital One really gives us peace of mind and helps us not feel so bad about the $395 annual fee for the Venture X.
Would I Recommend the Venture X?
When the Capital One Venture X Rewards Credit Card came out, it was my number one recommendation. It is still a premium travel card that I highly recommend today. Being a newer card in the premium travel card space, you’re going to be getting a highly competitive welcome bonus. In addition to this great welcome offer, you also get up to $100 every four years for Global Entry or TSA PreCheck, $300 annual travel credits, 10,000 anniversary miles ($100 value), exclusive travel lounge access, and various travel protections and insurances.
From the $300 annual travel credit and the 10,000 anniversary miles alone, you’re already coming out ahead. All other benefits like the Cell Phone Protection are just things that bring extra value in my opinion. I would absolutely recommend this card to anyone currently looking for a premium travel card with amazing value and benefits.