A protective case for a portable electronic device includes a rigid plastic frame bonded to a stretchable rubber cover and a back panel insert that can be removably inserted into a pocket in the rear of the stretchable rubber cover and plastic frame. To position a device in the case, the device is simply inserted into the front opening of the rigid plastic frame and stretchable rubber cover such that the edges of the stretchable cover stretch over the device and secure the device in the case. A variety of different removable back panels allow the stand to be easily reconfigured to include a stand for the device case, a pocket adapted to hold payment cards, a folding style wallet, a mirror or a fabric covering.