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Credit cards with fraud protection

Get zero liability protection, account alerts, 24/7 fraud monitoring and more.

Credit card fraud is on the rise. Luckily, many security features are widely found in major credit cards, and card providers are constantly developing unique and effective fraud-prevention tools.

Zero liability protection is one of the most important fraud-protection tools you’ll find. As long as you’re diligent about reporting fraudulent purchases, you won’t have to pay for them. Given the importance of this security feature, you might weigh this into your considerations when choosing a card.

What are credit cards with fraud protection?

These are cards that offer tools to guard against unauthorized purchases on your account. By law, you can be responsible for no more than $50 if your credit card is stolen and used without your consent. And if your credit card number is stolen and used, you aren’t liable at all.

In truth, you often won’t be liable for any fraud activity thanks to the security features and policies adopted by most major credit card issuers.

Common fraud-protection features include:

  • Zero liability.
    You won’t be on the hook to pay for fraudulent purchases in eligible instances.
  • Account alerts.
    You can sign up for email, text or phone alerts for your credit card if unusual payments and password changes are detected.
  • 24/7 fraud monitoring.
    Your provider will monitor your account for suspicious transactions, and may freeze them.
  • Account security options.
    These might include two-factor authentication and biometrics, which help you verify your identity. Your provider may also offer features that let you quickly change your account details if they’re compromised.
  • Card replacement.
    Quick card replacement encourages consumers to report stolen cards immediately. Some providers will expedite card replacement if you ask.
  • Chip technology.
    It’s more difficult for fraudsters to copy information from a chip embedded inside a card than from a magnetic strip.

More providers are offering unique security features

Here are a few out-of-the-box benefits you might find with certain providers:

  • Instantly freeze your card.
    Most providers offer this benefit. If you don’t know where your card is, you may be able to lock it so it can’t be used for any transactions. This can be done either through your an app on your phone or by calling your provider.
  • Biometric features.
    Card processors such as Visa and Mastercard are testing cards that store fingerprint data. And the forthcoming Apple card lets you authorize each purchase with your iPhone through Face ID or Touch ID.
  • Credit card identity theft protection.
    Some companies offer help resolving identity theft. Specialists can help you review your credit report, file a police report, identify compromised accounts and more.

Compare credit cards with fraud protection

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
19.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 1.99% on balance transfers with a 1% balance transfer fee for nine months.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn an extra 10% cash back (up to $100) on up to $1,000 of everyday purchases in the first 2 months Until May 31, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
Simplii Financial Cash Back Visa Card
10% cash back
Up to 4% cash back
9.99% intro APR for the first 6 months, 19.99% thereafter
$0
Min. recommended credit score: 650
Get 10% bonus cash back at eligible restaurants and bars for the first 4 months (up to $500 spend). Plus, get a 9.99% introductory annual interest rate on purchases for the first 6 months.
OFFER
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn an extra 10% cash back (up to $100) on up to $1,000 of everyday purchases in the first 2 months Until May 31, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
EXCLUSIVE
Neo Financial Mastercard
Get $25.00
Average 5% cash back
19.99% - 24.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 1% cashback guaranteed.
Refresh Financial Secured Card
N/A
N/A
17.99%
$12.95
Min. recommended credit score: Any score
The Refresh Secured Card has no credit check, a low annual fee and guaranteed approval once you secure your card with anywhere from $200 - $10,000.
Walmart Rewards Mastercard
Up to $25 in Reward Dollars
Up to 1.25% cash back
19.89%
$0
Min. recommended credit score: 650
Get up to $25 in bonus Walmart Reward Dollars.
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Compare up to 4 providers

How to get credit cards with fraud protection

All major credit card providers offer robust fraud protection. That’s because they have a big incentive: each time they miss an unauthorized transaction, they may have to pay for it out of their own pockets.

Any reputable provider will be happy to tell you how it protects you from fraud. Typically, you’ll find this information in a dedicated content hub on the provider’s website.

Credit Card ProviderZero liability and fraud protection policy
MastercardZero Liability Protection
VisaZero Liability Policy
American ExpressFraud Protection

How can I use credit card fraud protection?

If you suspect your card has been used fraudulently, call your bank immediately to report the unauthorized transaction. You’ll find the customer-support number on the back of your card.

If your card is lost or stolen, check your bank’s website for the general support phone number. A representative will help you deactivate your card and get a replacement. Ask if your bank offers expedited shipping on replacements.

What happens after I dispute a charge?

Your card provider will open an investigation into the charge. If the charge was fraudulent, your provider will send you a new card and account number.

In the meantime, you may receive a credit on your account for the amount of the charge.

Do debit cards feature fraud protection?

Yes. Just like credit cards, debit cards offer the same level of fraud security and protections. The Canadian Code of Practice for Consumer Debit Card Services ensures that financial institutions that offer Interac products offer zero liability. You can read about Interac‘s fraud prevention policy here.

Bottom line

Strong fraud protection is paramount to keeping your finances safe. Carefully examine how a potential card provider will guard your information, and verify that it offers a zero-liability benefit.

If you’re curious about how credit card security works, check out our guide here.

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