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Credit Cards with Purchase Protection Insurance

Ranked by estimated first-year value after fees. Uses each offer's best redemption, assumes the bonus is earned and the balance is paid in full.

$1,450 annual fee
Referral offerHow referrals work
Offer
225,000 American Express points
Card Purchase Cover insures eligible items bought on the Card against theft or damage within 90 days of purchase, up to $3,500 per item and up to $30,000 in any 365-day period.
Spend $5,000 in 90 days (~$1,667/mo)
Craig
Craig's Take

Moderate spend — $56/day for 90 days. Excellent ongoing earn rate. $450 cashback offsets the $1450 fee.

Estimated value after fees $1,408

Velocity flights

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Image of Qantas Premier Titanium credit card
Qantas points
$1,200 annual fee
Offer
150,000 Qantas points
Card Purchase Cover for new eligible items bought on the card against loss, theft or accidental damage.
Spend $5,000 in 90 days (~$1,667/mo)
Craig
Craig's Take

Moderate spend — $56/day for 90 days. Excellent ongoing earn rate. High $1200 fee — make sure you'll use the perks.

Estimated value after fees $1,300

Qantas flights

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$440 annual fee
Offer
70,000 Velocity points
Card Purchase Cover for eligible stolen or damaged items purchased with the Card; Card Refund Cover for recent unused purchases when a store refuses a return
Spend $5,000 in 90 days (~$1,667/mo)
Offer Expires in 2 days (2026-10-13)
Craig
Craig's Take

Moderate spend — $56/day for 90 days. Excellent ongoing earn rate. $385 cashback offsets the $440 fee.

Estimated value after fees $1,241

Velocity flights

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$349 annual fee
Offer
80,000 Velocity points
90 days complimentary insurance against loss, theft or accidental damage for purchases made with the Velocity High Flyer Card up to specified amounts worldwide.
Spend $7,000 in 60 days (~$3,500/mo)
Craig
Craig's Take

Tough spend — $117/day for 60 days. Good ongoing earn rate. $129 cashback offsets the $349 fee.

Estimated value after fees $1,229

Velocity flights

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$450 annual fee
Offer
70,000 Qantas points
Purchase Protection Cover repairs or refunds eligible items accidentally broken or stolen within 90 days of purchase; Card Refund Cover credits your account if refused a refund on an unused eligible item within 90 days of purchase
Spend $5,000 in 90 days (~$1,667/mo)
Offer Expires in a month (2026-11-17)
Craig
Craig's Take

Moderate spend — $56/day for 90 days. Excellent ongoing earn rate. $450 cashback covers the $450 fee.

Estimated value after fees $1,220

Qantas flights

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$450 annual fee
Referral offerHow referrals work
Offer
70,000 Qantas points
Purchase Protection Cover repairs or refunds eligible items accidentally broken or stolen within 90 days of purchase; Card Refund Cover credits your account if refused a refund on an unused eligible item within 90 days of purchase
Spend $5,000 in 90 days (~$1,667/mo)
Offer Expires in a month (2026-11-17)
Craig
Craig's Take

Moderate spend — $56/day for 90 days. Excellent ongoing earn rate. $450 cashback covers the $450 fee.

Estimated value after fees $1,220

Qantas flights

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$295 annual fee
Existing customers onlyCan I become an existing customer?
Offer
90,000 Velocity points
Covers eligible items charged to the card against theft, accidental damage or permanent loss for 4 months from purchase, up to $10,000 per item ($3,500 for jewellery, watches and new works of art), $135,000 total per 12 months; $300 excess per claim
Spend $6,000 in 90 days (~$2,000/mo)
$200 first year annual fee, $295 thereafter
Craig
Craig's Take

Moderate spend — $67/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $1,216

Velocity flights

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$295 annual fee
Existing customers onlyCan I become an existing customer?
Offer
90,000 Qantas points
Eligible items charged to the card covered against loss, theft or damage for up to 4 months, up to $10,000 per item ($3,500 for jewellery, watches and new works of art); $300 excess per claim
Spend $6,000 in 90 days (~$2,000/mo)
$200 first year annual fee, $295 thereafter
Offer Expires in 17 days (2026-10-28)
Craig
Craig's Take

Moderate spend — $67/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $1,123

Qantas flights

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$295 annual fee
Offer
90,000 Velocity points
Covers eligible items charged to the card against theft, accidental damage or permanent loss for 4 months from purchase, up to $10,000 per item ($3,500 for jewellery, watches and new works of art), $135,000 total per 12 months; $300 excess per claim
Spend $6,000 in 90 days (~$2,000/mo)
Craig
Craig's Take

Moderate spend — $67/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $1,121

Velocity flights

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$295 annual fee
Offer
90,000 Qantas points
Eligible items charged to the card covered against loss, theft or damage for up to 4 months, up to $10,000 per item ($3,500 for jewellery, watches and new works of art); $300 excess per claim
Spend $6,000 in 90 days (~$2,000/mo)
Offer Expires in 17 days (2026-10-28)
Craig
Craig's Take

Moderate spend — $67/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $1,028

Qantas flights

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$175 annual fee
Offer
70,000 Velocity points
Eligible items charged to the card covered against theft, accidental damage or permanent loss for up to 4 consecutive months, limited to $10,000 per item ($3,500 for jewellery, watches and new works of art); $300 excess
Spend $4,000 in 90 days (~$1,333/mo)
$99 first year annual fee, $175 thereafter
Craig
Craig's Take

Easy $44/day spend to hit the bonus. Poor ongoing earn rate.

Estimated value after fees $988

Velocity flights

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$175 annual fee
Offer
70,000 Velocity points
Eligible items charged to the card covered against theft, accidental damage or permanent loss for up to 4 consecutive months, limited to $10,000 per item ($3,500 for jewellery, watches and new works of art); $300 excess
Spend $4,000 in 90 days (~$1,333/mo)
Craig
Craig's Take

Easy $44/day spend to hit the bonus. Poor ongoing earn rate.

Estimated value after fees $912

Velocity flights

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Image of MyCard Premier credit card
MyCard points
$300 annual fee
Offer
120,000 MyCard points
Eligible items charged to the card covered against theft, accidental damage or permanent loss for 90 days from purchase; jewellery, watches and new works of art limited to $5,000 per claim, up to $200,000 per card account in any 12-month period; no excess
Spend $7,000 in 90 days (~$2,333/mo)
Craig
Craig's Take

Moderate spend — $78/day for 90 days. Good ongoing earn rate. $72 cashback offsets the $300 fee.

Estimated value after fees $881

Velocity flights

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Image of MyCard Premier Velocity credit card
Velocity points
$300 annual fee
Offer
60,000 Velocity points
Eligible items charged to the card covered against theft, accidental damage or permanent loss for 90 days from purchase; jewellery, watches and new works of art limited to $5,000 per claim, up to $200,000 per card account in any 12-month period; no excess
Spend $7,000 in 90 days (~$2,333/mo)
Craig
Craig's Take

Moderate spend — $78/day for 90 days. Average ongoing earn rate. $72 cashback offsets the $300 fee.

Estimated value after fees $852

Velocity flights

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$175 annual fee
Offer
70,000 Qantas points
Covers eligible items against theft, accidental damage or permanent loss for up to 4 months from purchase; up to $10,000 per item ($3,500 for jewellery, watches and new works of art), $135,000 max in any 12-month period; $300 excess
Spend $4,000 in 90 days (~$1,333/mo)
Craig
Craig's Take

Easy $44/day spend to hit the bonus. Poor ongoing earn rate.

Estimated value after fees $841

Qantas flights

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$169 annual fee
Offer
50,000 Velocity points
90 days complimentary insurance against loss, theft or accidental damage on purchases made with the Flyer Credit Card.
Spend $3,000 in 60 days (~$1,500/mo)
Craig
Craig's Take

Easy $50/day spend to hit the bonus. Average ongoing earn rate. $129 cashback offsets the $169 fee.

Estimated value after fees $836

Velocity flights

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Image of MyCard Rewards Velocity credit card
Velocity points
$249 annual fee
Offer
60,000 Velocity points
Eligible items charged in full to the card account are covered against theft, accidental damage or permanent loss for 90 days; up to the purchase price (jewellery, watches and new works of art limited to $5,000 per claim), max $200,000 per card account per 12 months
Spend $5,000 in 90 days (~$1,667/mo)
Craig
Craig's Take

Moderate spend — $56/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $805

Velocity flights

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$420 annual fee
Offer
50,000 Commbank points
Purchase Security: new items bought on the card (or via Awards points redemption) covered against loss, theft or damage for 90 consecutive days from purchase; $100 excess; up to $200,000 per 12-month period for personal Ultimate Awards cardholders
Spend $9,000 in 90 days (~$3,000/mo)
Craig
Craig's Take

Moderate spend — $100/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $675

Coles gift cards

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Image of ANZ Rewards Platinum credit card
ANZ points
$149 annual fee
Offer
85,000 ANZ points
Covered items bought on the card against theft, accidental damage or permanent loss for 90 days from possession; up to $10,000 per item ($3,500 for jewellery, watches and new works of art), max $135,000 per card account in any 12 months
Spend $3,500 in 90 days (~$1,167/mo)
Craig
Craig's Take

Easy $39/day spend to hit the bonus. Good ongoing earn rate. $50 cashback offsets the $149 fee.

Estimated value after fees $668

Velocity flights

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$195 annual fee
Offer
80,000 NAB points
Complimentary purchase protection insurance
Spend $3,000 in 90 days (~$1,000/mo)
Craig
Craig's Take

Easy $33/day spend to hit the bonus. Average ongoing earn rate.

Estimated value after fees $517

Velocity flights

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Image of MyCard Rewards credit card
MyCard points
$249 annual fee
Offer
100,000 MyCard points
Eligible items charged in full to the card account are covered against theft, accidental damage or permanent loss for 90 days; up to the purchase price (jewellery, watches and new works of art limited to $5,000 per claim), max $200,000 per card account per 12 months
Spend $5,000 in 90 days (~$1,667/mo)
Craig
Craig's Take

Moderate spend — $56/day for 90 days. Good ongoing earn rate.

Estimated value after fees $482

Velocity flights

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Image of ANZ Frequent Flyer Black credit card
Qantas points
$425 annual fee
Offer
50,000 Qantas points
Items purchased on the card covered against theft, accidental damage or permanent loss for 90 days from possession, up to $10,000 per item ($3,500 for jewellery, watches and new works of art), to a maximum $135,000 per card account in any 12-month period; no excess.
Spend $6,000 in 90 days (~$2,000/mo)
Craig
Craig's Take

Moderate spend — $67/day for 90 days. Excellent ongoing earn rate. High $425 fee — make sure you'll use the perks.

Estimated value after fees $471

Qantas flights

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$449 annual fee
Offer
40,000 Qantas points
Complimentary purchase protection insurance
Spend $5,000 in 90 days (~$1,667/mo)
Craig
Craig's Take

Moderate spend — $56/day for 90 days. Good ongoing earn rate. $200 cashback offsets the $449 fee.

Estimated value after fees $451

Qantas flights

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Image of MyCard Premier Qantas credit card
Qantas points
$350 annual fee
Offer
40,000 Qantas points
Eligible items bought on the card covered against theft, accidental damage or permanent loss for 90 days; up to $200,000 per card account per 12 months ($5,000 limit for jewellery, watches and new works of art).
Spend $7,000 in 90 days (~$2,333/mo)
Craig
Craig's Take

Moderate spend — $78/day for 90 days. Average ongoing earn rate.

Estimated value after fees $346

Qantas flights

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$295 annual fee
Offer
25,000 Qantas points
Complimentary purchase protection insurance
Spend $4,000 in 90 days (~$1,333/mo)
Craig
Craig's Take

Easy $44/day spend to hit the bonus. Average ongoing earn rate. $150 cashback offsets the $295 fee.

Estimated value after fees $287

Qantas flights

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$295 annual fee
Offer
100,000 Westpac points
Up to 4 months cover for eligible items charged to the card against theft, accidental damage or permanent loss; up to $10,000 per item ($3,500 for jewellery, watches and new works of art), $135,000 max per 12-month period, $300 excess
Spend $12,000 in 365 days (~$986/mo)
$200 first year annual fee, $295 thereafter
Craig
Craig's Take

Easy $33/day spend to hit the bonus. Average ongoing earn rate.

Estimated value after fees $285

Krisflyer flights

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$175 annual fee
Existing customers onlyCan I become an existing customer?
Offer
75,000 Westpac points
Eligible items charged to the card account covered against loss, theft or damage for up to 4 months, up to $10,000 per item ($3,500 for jewellery, watches and new works of art); $300 excess per claim
Spend $3,000 in 90 days (~$1,000/mo)
$49 first year annual fee, $175 thereafter
Craig
Craig's Take

Easy $33/day spend to hit the bonus. Excellent ongoing earn rate.

Estimated value after fees $281

Krisflyer flights

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$149 annual fee
Offer
100,000 BOQ points
Coverage for lost, stolen, or damaged goods within 90 days of purchase for card members, subject to terms, conditions, limits, and exclusions.
Spend $4,500 in 90 days (~$1,500/mo)
$75 first year annual fee, $149 thereafter
Craig
Craig's Take

Easy $50/day spend to hit the bonus. Average ongoing earn rate.

Estimated value after fees $215

Woolworths gift cards

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Cashback points
$149 annual fee
Offer
0 Cashback points
Online shopping protection for orders that don't arrive, are damaged, or are missing items, plus cover for accidental damage or theft on purchases made with the card, up to $750 per year
Spend $0 in 0 days
Craig
Craig's Take
Estimated value after fees $211

Cashback at $3,000/month spend

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$199 annual fee
Offer
20,000 Qantas points
Purchase Security cover for personal goods charged to the card (or acquired using points): reimburses the actual amount charged or market value, up to $125,000 total in a 12-month period ($3,000 sub-limit for jewellery, watches and fine arts); $250 excess applies.
Spend $4,000 in 120 days (~$1,000/mo)
Craig
Craig's Take

Easy $33/day spend to hit the bonus. Average ongoing earn rate.

Estimated value after fees $159

Qantas flights

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$295 annual fee
Offer
25,000 Qantas points
Items purchased on the card covered against theft, accidental damage or permanent loss for 90 days from possession, up to $10,000 per item ($3,500 for jewellery, watches and new works of art), to a maximum $135,000 per card account in any 12 months
Spend $3,500 in 120 days (~$875/mo)
Craig
Craig's Take

Easy $29/day spend to hit the bonus. Good ongoing earn rate.

Estimated value after fees $147

Qantas flights

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$320 annual fee
Offer
20,000 Qantas points
Purchase Security cover for personal goods charged to the card: pays the actual amount charged to card (or market value if purchased through points); $3,000 sub-limit for jewellery, watches and fine arts; $125,000 overall limit in a 12-month period; $250 excess applies.
Spend $4,000 in 120 days (~$1,000/mo)
Craig
Craig's Take

Easy $33/day spend to hit the bonus. Excellent ongoing earn rate.

Estimated value after fees $64

Qantas flights

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$195 annual fee
Offer
0 American Express points
Card Purchase Cover insures eligible items bought on the card against theft or damage within 90 days of purchase, up to $2,500 per item and $20,000 in any 365-day period; $50 excess
Spend $0 in 0 days
$0 first year annual fee, $195 thereafter
Craig
Craig's Take

Average ongoing earn rate. $200 cashback covers the $195 fee.

Value estimate unavailable

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