In addition to the warranty and loss coverage you get with whatever credit card that you use to buy your phone, you can have continuing damage and theft coverage (up to $600) if you pay your monthly bill with a free Wells Fargo credit card. Other than that, there's nothing special about the card, but I keep one just to use for my phone bills.
As Ffly points out, the Uber Card offers the same protection and probably better benefits.
Cellular Telephone Protection can reimburse the eligible Wells Fargo Consumer Credit Card cardholder for damage to or theft of a cell phone. Reimbursement is limited to the repair or replacement of your original cell phone, less a $25 deductible with a maximum benefit limit of $600 per claim and $1,200 per 12 month period. This benefit does not cover cell phones that are lost (i.e. disappear without explanation). This protection is only available when cell phone bills are paid from your Wells Fargo Consumer Credit Card. The coverage does not apply if the cell phone bill is paid from a Wells Fargo Debit Card, Wells Fargo Business Credit Card, Wells Fargo Commercial Card or from the card that is linked to a Line of Credit. Coverage does not apply to cell phones that are rented, borrowed, or received as part of a prepaid plan. Electronic failure or issues related to the software of the device are not covered. Cellular Telephone Protection coverage begins the first day of the calendar month following your first cell phone billing on your Wells Fargo Consumer Credit Card, and remains in effect when you continue to charge your total monthly cell phone bill to your Wells Fargo Consumer Credit Card. This protection may not be equivalent to or better than other applicable coverage. This is supplemental coverage not otherwise covered by another insurance policy (for example, cell phone insurance programs, or your homeowner's, renter's, automobile, or employer's insurance policies) and may be applied after all other insurance. For complete coverage benefits and exclusions regarding this protection call 1-866-804-4770, 24 hours a day, seven days a week or go to www.wellsfargo.com/cellphone
or view the full Terms & Conditions now.