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Purchase protection is one of the most overlooked credit card benefits. Depending on your card, it can cover items purchased within the last 90 days if they’re lost, stolen, or damaged.

But American Express is scaling back that coverage on some cards — and if you carry one, this change is worth a closer look.

American Express Removes Lost Item Coverage From Purchase Protection on Some Cards

Before the news broke, American Express cardholders who lost a purchase in the last 90 days had a language stating that “damage to, loss of, or theft of a covered purchase” would be included.

Now, the purchase protection applies to “events that result in damage to or theft of a covered purchase.”

The removal of just two words is a big change, and there are over a dozen cards affected:

Keep in mind that any theft case requires filing a police report with the municipality where the theft occurred. You can file a claim online or call Amex at 1-800-228-6855.

Amex Cards That Still Cover Lost Items Under Purchase Protection

Thankfully, some American Express cards still include purchase protection for lost items — though coverage depends on the specific card and circumstances.

Importantly, purchase protection typically does not apply if the item was lost while in the care of a third party, such as an airline or shipping carrier.

In those cases, your card’s baggage insurance may apply instead. This is a separate benefit that can cover lost, stolen, or damaged luggage when traveling on a common carrier, with its own rules and limits.

A photo shows two people walking in an airport with luggage
Lost luggage coverage may apply for lost items.

Coverage amounts also vary by card. For example, the American Express Platinum Card® offers up to $10,000 per covered event (up to $50,000 per year), while the American Express® Gold Card offers up to $1,000 per covered event.

Here's a list of cards issued by Amex that still have protections:

If you hold one of these cards, purchases made within the last 90 days may still be eligible for lost item coverage.

Other Credit Cards That Still Offer Purchase Protection

If you're not an Amex cardholder, there are plenty of other card options that still offer purchase protection for lost items.

Chase offers a multitude of options with 120 days of protection for lost purchases (90 days for New York residents). All Chase cards include some form of purchase protection, including favorites like the Chase Sapphire Preferred® Card. The amount covered may vary depending on the card you hold.

Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card
Apply Now
Rates & Fees
Welcome Bonus Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Chase Sapphire Preferred® Card
Welcome Bonus Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Annual Fee:$95
Show moreWhy We Like ItHighlightsEarning Rates
Our #1 recommended beginners rewards card featuring a 75,000-point signup bonus after you spend $5,000 on purchases in the first 3 months from account opening. This card comes with great benefits and earns valuable Ultimate Rewards points.
  • Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
  • Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
  • Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
  • 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
  • Member FDIC
  • 5X points on Lyft rides through September 2027
  • 5X points on travel purchased through Chase Travel℠
  • 3X points on dining at restaurants worldwide
  • 3X points on eligible streaming services
  • 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
  • 2X points on all other travel
  • 1X point per dollar spent on all other purchases

Bottom Line

This is a negative change for many American Express cardholders — especially those with low- or no-annual-fee cards.

Many of the cards losing their lost item protection are the same ones people rely on for everyday spending. If purchase protection is important to you, it may be worth considering a card that still includes lost item coverage or offers longer protection windows, such as those from Chase.

For rates and fees of the cards mentioned in this post, please visit the following links: Chase Sapphire Preferred® Card (Rates & Fees)

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