Battling Credit Card Fraud: The Types of Insurance You Can Get

Credit Card Deals

	Interest Rate p.a.	Balance transfer Rate p.a.
ANZ Low Rate	13.14% p.a.	0% p.a. for 9 months
Virgin Australia Velocity Flyer Card - Balance Transfer Offer	20.99% p.a.	0% p.a. for 8 months
HSBC Credit Card	17.99% p.a.	0% p.a. for 6 months

Beating Credit Card Fraud with the Right Credit Card Insurance

Credit card fraud doesn’t have to be a nightmare, as long as you’ve taken a bit of time to work out the right type of credit card insurance to offer you an extra level of protection.

Your credit card could easily become lost or be stolen, or your details could be obtained by unscrupulous people. Regardless of how it happens, it’s possible for someone else to make fraudulent charges using your credit card if that information falls into the wrong hands.

Yet, many credit card providers offer a form of insurance to help protect you against this kind of credit card fraud. A Zero Liability Guarantee is one of the more common types of credit card insurance policy offered. This can mean that you won’t be held liable for any unauthorised transactions that are made with your card.

In order for your Zero Liability Guarantee to be honoured, you will need to ensure that you report your lost or stolen card as quickly as possible. If you delay notifying your credit card provider, you risk them deciding not to reimburse you for any unauthorised credit card transaction you may notice on your statement at a later date.

Protect yourself from loss, theft and identity crime

Secure Sentinel provides you with a personal identity security assistant through SecureIdentity. It keeps watch on your credit file and activities which may use your personal information for unlawful activities.

Features of Secure Identity – with one single call you can:

• Cancel any affected credit cards or other financial cards (including cover from the time they were lost to the time you notified them, until the time they notify your banks etc.
• Arrange replacement cards
• Place a temporary block on your mobile phone that is registered with Secure Identity
• Help you with item details for a police claim or insurance claim
• If you are eligible, you can even receive a cash advance fo $1,000 AUD in the case of an emergency
• Organise the safe return of any lost or stolen registered items that were recovered
• Give you help and advice to get through the situation as smoothly as possible with the least amount of stress.

Read the Secure Sentinel terms and conditions.

Keeping this in mind, it’s wise to remember to check your credit card statement on a regular basis to be sure all the transactions noted there are legitimate and expected.

Of course, not all cases of credit card fraud are intentional. Some are simple human-error mistakes that could cause problems within your account. These include a shop-keeper double charging your credit card for the same purchase, or charging an incorrect amount for a purchase.

However, if you lend your credit card to another person and they charge far more than you authorised, you may find you won’t be covered by Zero Liability Guarantee insurance in this event.

You may find an additional form of credit card insurance available on some cards for your protection is Purchase Protection Insurance. This kind of insurance policy can cover the items you purchase using your card against loss, damage or theft, usually within 90 days of the purchase date.

Extended warranty insurance can be very handy if you’ve bought an item that comes with an Australian warranty with your credit card. Most policies of this type can extend the usual manufacturer’s warranty for a further 12 months. So if you’re purchasing electrical or electronic items, this can be very handy.

Some credit cards also offer International Travel Insurance and Accident Insurance Protection policies. While these aren’t usually associated with protecting you against credit card fraud, they can be extremely valuable if you’re planning to travel overseas at any time in the near future.

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Credit card offers:

HSBC Credit Card	Bankwest Zero Platinum Credit Card	Virgin Flyer Credit Card	ANZ Low Rate
0% p.a. for 6 months on balance transfers & no annual fee	0% p.a. for 9 months on balance transfers & platinum benefits	0% p.a. for 8 months on balances transfers & reward points	0% p.a. for 9 months on balance transfers & low rate

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Credit Cards Comparison

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			Interest rate (p.a.)	Balance transfer rate (p.a.)	Annual fee	Cash advance rate (p.a.)
	ANZ Low Rate	A low rate on purchases, balance transfer and a low annual fee.	13.14% p.a.	0% p.a. for 9 months	$58 p.a.	21.49% p.a.
	HSBC Credit Card	No annual fee for the life of the credit card. Plus a low balance transfer offer.	17.99% p.a.	0% p.a. for 6 months	$0 p.a.	21.99% p.a.
	Bankwest Zero Platinum MasterCard	Exclusive Offer to Credit Card Finder. No annual fee credit card with platinum benefits.	17.99% p.a.	0% p.a. for 9 months	$0 p.a.	21.99% p.a.
	Commonwealth Bank Low Rate Credit Card	A low interest rate offer on purchases and balance transfers.	0% p.a. for 5 months (reverts to 12.99% p.a.)	5.99% p.a. for 5 months	$78 p.a. ($48 for qualifying customers)	21.24% p.a.
	ANZ Platinum Credit Card	No annual fee for the first year and a balance transfer offer.	19.39% p.a.	0% p.a. for 9 months	$0 p.a. annual fee for the first year ($87 p.a. thereafter)	20.99% p.a.

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.