Purchase Protection Credit Cards in NZ – Compare Purchase Protection Credit Cards

Purchase Protection Insurance, also known as Purchase Security Insurance or Merchandise Protection, is insurance for the new products you buy with your credit card. It provides coverage for items against loss, theft, or accidental damage, usually for up to six months from the time of purchase.

This type of insurance offers short-term theft and damage protection for items purchased with your credit card. It automatically covers all eligible purchases on your card, with no extra registration necessary. However, not all credit cards offer purchase protection, and not all items are eligible for coverage. The definition of an eligible purchase also varies from card to card. It is important to read the terms and conditions for your specific credit card.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

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Updated: 27 Jan, 2025

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Compare Purchase Protection Credit Cards

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Card	Description	Purchase Rate (p.a.)	Balance Transfer	Cash Rate (p.a.)	Annual Fee	Interest Free Days
TSB Low Rate Mastercard Credit Card Gold Award	The TSB Low Rate Mastercard has a very low interest rate of 11.95% p.a. for purchases and cash advances.	11.95%	0% for 6 months	11.95%	$20.00	55 days More Info » Apply Now »
Westpac Hotpoints World MasterCard Credit Card Gold Award	Earn 2 hotpoints for every $1 spent on your card up to (and including) $15,000 then 1 hotpoint for every $1 spent on your card each month. Plus Priority Pass lounge access to over 1,500 airport lounges around the world and overseas travel insurance for up to 120 days per round trip. Reward Points Cash Equivalent: $100 spend earns $1.11 cash equivalent (for up to $15,000 spend)^. $100 spend earns $0.55 cash equivalent (for over $15,000 spend)^.	16.95% p.a.	5.95% for life of balance transferred	22.95% p.a.	$285.00	44 days More Info » Apply Now »
Westpac Airpoints World MasterCard Credit Card Gold Award	This card is a touch of everything including Airpoints, a relatively low interest rate of 16.95% and a balance transfer offer of 5.95% for life of balance transferred. It also comes with Priority Pass lounge access to over 1,500 airport lounges around the world. Reward Points Cash Equivalent: $100 spend earns $1.05 cash equivalent (for up to $15,000 spend)^. $100 spend earns $0.52 cash equivalent (for over $15,000 spend)^.	16.95%	5.95% for life of balance transferred	22.95%	$310.00	44 days More Info » Apply Now »
TSB Platinum Mastercard Credit Card Gold Award	Earn $1 cashback on every $100 spent on eligible purchases. Plus a range of insurance. Reward Points Cash Equivalent: $100 spend earns $1.00 cash equivalent^.	20.95%	N/A	22.95%	$90.00	55 days More Info » Apply Now »
The American Express Airpoints Platinum Card Platinum Award	The FASTEST Airpoints DollarTM earning Platinum Credit Card in NZ. Every $70 you spend earns you 1 Airpoints Dollar. This cards also comes with: Complimentary Travel Insurance for domestic and international travel Koru joining fee waived Koru annual fee discount of $145 Two VIP Lounges access with Priority Pass per year. Two entries per year to the Centurion lounge at Sydney or Melbourne International Airport CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only. Reward Points Cash Equivalent: $100 spend earns $1.42 cash equivalent^.	22.95% p.a.	N/A	22.95% p.a.	$195.00	55 days More Info » Apply Now » No documents required to apply1

^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases you might earn less or more depending on how you redeem your ponts and some reward points cannot be redeemed for cash directly. Click on the card to find out how the estimate was calculated.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

More Info »

*Terms and conditions apply

Understanding Purchase Protection Credit Cards

How Does Purchase Protection Credit Cards Work?

Typically, credit card purchase protection applies to purchases you make with your credit card for a specific amount of time. With this important coverage, you can be reimbursed for an item or receive a replacement if your purchase is damaged or stolen, usually within 90 to 120 days. Purchase protection serves as secondary insurance coverage, meaning you can only use it if another insurance, like renters or homeowners insurance, does not cover the loss.

Common Misconceptions about Purchase Protection Credit Cards

1. All Credit Cards Offer Purchase Protection: Not all credit cards come with purchase protection. It is essential to check the terms and conditions of your specific card.
2. All Purchases Are Covered: Only eligible purchases are covered under purchase protection. Items such as perishable goods, motor vehicles, and pre-owned items are typically excluded.
3. No Need for Documentation: Proper documentation, such as receipts and police reports (in case of theft), is often required to file a claim.
4. Unlimited Coverage: There are usually limits on the amount you can claim per item and per year. Always review your card’s policy to understand these limits.

How to Use Purchase Protection Credit Card Effectively

Steps to Activate Purchase Protection

To activate purchase protection on your credit card, you must file a claim through your credit card provider. The process varies slightly depending on the issuer:

1. Visa and Discover: Call their customer service number to file your claim.
2. MasterCard and American Express: Submit an online claim form or call their customer service number.

Once your claim is filed, you can generally expect reimbursement within 30 to 60 days if the claim is successfully resolved.

Eligible Purchases

Purchase protection generally applies to items that are:

• Never delivered
• Arrive damaged or defective
• Not as described or incomplete

It is important to check the specific terms and conditions of your credit card issuer, as there may be exclusions or limitations on what is considered an eligible purchase.

Time Limits and Conditions

Each credit card issuer has specific time limits and conditions for filing a purchase protection claim. Typically, you must file a claim within a certain number of days from the date of purchase or the date you received the item. Common time limits include:

• 30 days from the date of purchase
• 60 days from the date of purchase

Ensure you review your credit card’s terms and conditions to understand the exact time limits and any additional requirements for filing a claim.

Filing a Credit Card Purchase Protection Claim

When filing a purchase protection claim, you must provide specific documentation to support your case. Essential documents include:

• The original receipt for the purchase.
• The credit card statement confirming the purchase was made through the card offering purchase protection.
• A police report, if the item was stolen or destroyed by vandalism.

To file a purchase protection claim, follow these steps:

1. Gather Required Documentation: Ensure you have all necessary documents, including receipts, credit card statements, and any relevant reports.
2. Contact Your Credit Card Issuer: Initiate the claim process by contacting your credit card issuer. This can usually be done online, by phone, or through a mobile app.
3. Complete the Claim Form: Fill out the claim form provided by your credit card issuer. Be thorough and accurate to avoid delays.
4. Submit the Claim: Submit the completed claim form along with all required documentation.
5. Await Resolution: Once your claim is filed, the issuer will review it. If approved, you will generally receive reimbursement within 30 to 60 days.

Understanding why claims are denied can help you avoid common pitfalls. Common reasons for claim denials include:

• Incomplete Documentation: Failing to provide all required documents can result in a denial.
• Ineligible Purchases: Some items may not be covered under purchase protection policies.
• Missed Deadlines: Claims must be filed within a specific time frame, usually within 90 days of the purchase or incident.
• Pre-existing Damage: Items that were damaged before the purchase are typically not covered.

By adhering to these guidelines and ensuring all documentation is complete and accurate, you can increase the likelihood of a successful purchase protection claim.

Comparing Purchase Protection Across Major Credit Card Issuers

Visa Purchase Protection

Visa offers purchase protection on many of its credit cards, covering eligible items against theft or damage. The coverage period and claim limits can vary, so it is essential to read the product disclosure statements thoroughly. Typically, Visa’s purchase protection lasts for 90 days from the date of purchase and covers up to a certain dollar amount per claim and per year.

Mastercard Purchase Protection

Mastercard also provides purchase protection on a range of its credit cards. Similar to Visa, the specifics of the coverage, including the duration and claim limits, depend on the card issuer. Generally, Mastercard’s purchase protection covers new purchases against damage or theft for up to 90 days. Be sure to check the terms and conditions of your specific card for detailed information.

American Express Purchase Protection

American Express is known for its robust purchase protection benefits. Most American Express cards offer coverage for eligible purchases against theft and accidental damage for up to 90 days from the purchase date. The coverage limits can be higher compared to Visa and Mastercard, but it is crucial to review the specific terms and conditions of your card.

While the timeframe and dollar amount covered varies depending on the individual card, American Express, Visa, and Mastercard all offer purchase protection plans. Discover does not currently offer purchase protection.

Alternatives to Credit Cards for Purchase Protection

Retailer Protection Plans

If you do not have a credit card offering purchase protection or prefer to avoid using a credit card that does, there are viable alternatives. Many retailers offer their own protection plans, which can be purchased at the time of buying an item. These plans often cover a range of issues such as accidental damage, theft, and sometimes even loss. It is advisable to read the terms and conditions carefully to understand what is covered and any exclusions that may apply.

Extended Warranties

Extended warranties are another excellent alternative to credit card purchase protection. These warranties can be purchased either from the retailer or a third-party provider and typically extend the manufacturer’s warranty by a certain period. They often cover repairs and replacements for a variety of issues that may arise after the manufacturer’s warranty has expired. Be sure to compare different warranty providers to find the best coverage for your needs.

Insurance Options

Various insurance options can also serve as alternatives to credit card purchase protection. Homeowners or renters insurance policies often include coverage for personal property, which can protect your purchases against theft, damage, and other risks. Additionally, specialised insurance policies are available for high-value items such as electronics, jewellery, and art. These policies can offer more comprehensive coverage than standard purchase protection plans. Always review the policy details to ensure it meets your specific needs.

Why Purchase Protection Matters Today

Increased Online Shopping

In today’s digital age, a significant portion of transactions occur online. This shift has increased the potential for fraudulent activities and disputes. Purchase protection provides a safety net, ensuring that you are reimbursed if an item is not delivered, is damaged, or does not match the description provided by the seller.

High-Value Purchases

When making high-value purchases such as electronics, jewellery, or appliances, the stakes are higher. Purchase protection can save you a substantial amount of money if something goes wrong. It offers peace of mind, knowing that your investment is safeguarded.

Consumer Peace of Mind

The assurance that comes with purchase protection cannot be overstated. It allows you to shop with confidence, knowing that you have a recourse if things do not go as planned. This is particularly important when dealing with unfamiliar merchants or making significant purchases.

Frequently Asked Questions about Purchase Protection Credit Cards

What is Credit Card Purchase Protection?

Credit card purchase protection is a feature that provides short-term theft and damage insurance for items you purchase with your credit card. It typically applies to purchases made with the card for a specific amount of time, usually within 90 to 120 days.

How Does Purchase Protection Work?

To benefit from purchase protection, you must make your purchase using a credit card that offers this feature. If something goes wrong, you need to report it within the given time limit, which can range from 30 to 120 days after the purchase.

Which Credit Cards Offer the Best Purchase Protection?

Most of the best credit cards offer purchase protection, but there are wide differences in the amount provided by each card. Some cards may offer extensive coverage, while others may have none at all.

What Are the Steps to Activate Purchase Protection?

No extra registration is necessary to activate purchase protection. It automatically covers all eligible purchases made with your card. However, you must report any issues within the specified time frame to make a claim.

What Items Are Eligible for Purchase Protection?

The definition of an eligible purchase varies from card to card. Generally, high-value items like electronics and furniture are covered, but it’s important to read the fine print of your card’s policy to know the exact terms and conditions.

Why Does Purchase Protection Matter Today?

With the increase in online shopping and high-value purchases, purchase protection offers consumers peace of mind. It ensures that you can be reimbursed or receive a replacement if an item is damaged or stolen within the coverage period.