Many Visa Cards Losing Benefits Beginning February 2021 (Extended Warranty, Auto Rental Insurance, Purchase Protection)

Many banks who issue Visa credit cards have been sending out notices to their cardholders about an impending change in benefits beginning February 1, 2021 which will result in the termination of the following card benefits:

  • Auto Rental Collision Damage Waiver
  • Extended Warranty Protection
  • Purchase Protection

Not all cards are affected, e.g. premium cards typically have special benefits packages which won’t necessarily be affected. But many of the standard cards are getting these notices, such as:

  • U.S. Bank various cards
  • Elan cards
  • Rakuten Visa card
  • Synchrony cards
  • Comenity cards
  • Bank of America Cash Rewards (auto rental benefit being removed)
  • Let us know which others you got notifications on

Be careful which card you use for shopping and car rentals that need added protections.

Source: doctorofcredit.com