Some cards may offer this advantage through annual fees, with amounts that vary from bank to bank.
And care must be taken with the advantages of insurance, as it can encourage undue purchases, which can lead to indebtedness. Today, interest on credit cards can reach 22.47% according to data from the Central Bank.
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But what is purchase protection anyway?
It is insurance that protects against theft, theft or damage to goods purchased with the card, and often offers reimbursement of the value, compensation or repair of the product.
Brands like Mastercard, Visa and Elo have protection in their most exclusive versions, each one has its own refund rules. For example, with Mastercard Gold, the deadline for notifying the occurrence is 30 days, and the maximum purchase amount is US$ 200, covering a maximum of US$ 400 per year in occurrences. In Black, the period increases to 90 days, and the value per purchase is US$ 5,000, and US$ 20,000 annually.
In these cases of robbery or theft, it is necessary to present a police report describing the damage.
With the Vida brand, protection covers a period of 180 days, but the amount varies according to the type of card. For Gold cards, the annual coverage amount is BRL 3,300, for Platinum it is BRL 16,500 per purchase and BRL 33,000 per year. On the Signature card, the amount per purchase can reach R$16,500 and per year up to R$33,000. With the Infinite card, coverage per purchase can reach R$33,000 and R$66,000 in the year.
On the Elo brand, coverage reaches BRL 5,000, with a period of 45 days after purchase.
There are also cards that provide price protection, which is when the holder has recently purchased a product and finds it at a lower price in another advertisement. In these cases, the card offers a refund of the difference.
Master (Gold) and Visa (Gold, Platinum, Signature and Infinite) cards have this type of protection. To be eligible, the product must have a minimum value of US$ 50, and the ad has a period of 30 days to be accepted. Per occurrence the customer can receive US$ 100, and per year US$ 200. These values correspond to the Mastercard brand.
With Visa, the minimum value of the product must be BRL 150, and reimbursement can vary from BRL 1,320 on the Gold card to BRL 13,200 on the Infinite card per event.
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