Imagine waking up to a nightmare: your credit cards are maxed out, and multiple accounts have been opened in your name—it dawns on you that your identity has been stolen. A seemingly innocent online shopping spree can turn into a financial disaster if you don’t take the necessary steps to protect your credit card from identity thieves.
It’s not enough to learn about popular tactics used by cybercriminals or stay informed about the latest credit card fraud threats. You can significantly reduce the damage associated with identity theft when you have credit card identity theft protection.
In this guide, we explore what credit card identity theft protection is and what to do if you fall victim to identity thieves.
What Is Credit Card Identity Theft Protection?
Credit card identity theft occurs when a thief steals your credit card information and uses it to make unauthorized transactions or open a new account in your name.
In 2021, the Federal Trade Commission (FTC) recorded close to 1.4 million cases of identity theft, highlighting the need for consumers to implement more protective measures to secure their identity. Credit card identity theft protection is one such measure.
It’s a service that helps safeguard your credit card details from unauthorized use, employing a range of measures to monitor your credit reports, spot suspicious activity, and aid recovery if your identity becomes compromised.
Identity theft can happen to anyone who owns a credit card, and the consequences can be costly—financially and time-wise. Identity theft protection offers:
- Online data protection software
- Credit profile tracking
- Notifications of high-risk transactions
- Lost wallet assistance
Main Types of Identity Theft Protection
There are two main types of credit card identity theft protection—the following table explains how they work and how they can benefit you:
| Type | Core Function | Key Benefit | Offered Services |
| Monitoring services | Notifies you of changes in your credit report, flags potential fraud, and offers wallet protection | Early detection of potential identity theft | Credit, Social Security number (SSN), and health insurance monitoring, fraud alerts, etc. |
| Identity theft recovery (assistance and insurance) | Assists in recovering your identity and repairing financial loss ensuing from identity theft | Financial recovery and restoration of credit reputation | Identity theft recovery assistance, financial loss coverage, legal support, etc. |
Working with an identity theft protection service gives you peace of mind, knowing that there’s a team dedicated to keeping an eye on your credit and helping you recover your identity if a mishap occurs.
Do Credit Cards Offer Identity Theft Protection?
Many credit card issuers offer credit monitoring and identity protection tools for free or for a fee. Here’s a list of credit cards that offer identity theft protection for free:
- American Express
- Capital One
- Chase
- Discover
- Mastercard
American Express
This card issuer offers a free credit protection service called MyCredit Guide, available to American Express cardholders and any 18+ U.S. resident with sufficient credit history with TransUnion to generate a VantageScore Credit Score. The service allows you to review your VantageScore 3.0 and check your TransUnion credit report for free.
If any changes occur on your TransUnion credit report, the protection service will alert you. They monitor your credit to help you identify and report suspected fraud immediately.
American Express also offers a paid identity theft protection service with advanced security features. For $19.99/month, you can activate CreditSecure, including:
- Online privacy manager
- Social media monitoring
- Identity theft insurance
- Account takeover alerts
- Dormant account alerts
Capital One
This card issuer provides a free monitoring service called CreditWise, available to any credit card owner, not just Capital One users. It offers:
- Weekly VantageScore 3.0 score updates and free score checks
- Fraud alerts on your TransUnion or Experian credit reports
CreditWise also helps you monitor the dark web, combing through to see if your personal information is compromised. Its built-in credit simulator helps you gauge how your financial decisions impact your score.
Chase
Credit Journey is Chase’s free credit monitoring tool that allows Chase cardholders and other card owners to check their VantageScore 3.0 credit score and the state of their credit. If a data breach occurs and your data becomes compromised, or your personal information is found on the dark web, you’ll receive alerts.
You’ll also receive notifications when a lender verifies your identity or someone else uses your SSN.
Discover
Credit Scorecard is a credit monitoring service, protecting cardholders from Discover credit card fraud and identity theft. This service allows you to check your FICO credit score and the factors that make up your score for free.
It also monitors your Experian credit report and sends alerts if any changes are reported on your account so you can take prompt action. If your SSN is on the dark web, you’ll also receive a notification. The service can help you erase your personal information from websites that sell your data.
In addition to these basic free features, Discover offers a paid service for consumers who want to maximize their security. For $15/month, Discover Identity Theft Protection provides:
- Social security monitoring for up to 10 children under 18
- Tri-bureau credit monitoring
- Insurance coverage
- Fraud resolution
Mastercard
Mastercard’s ID Theft Protection offers free identity theft protection with credit monitoring and identity fraud resolution in case of its occurrence for its U.S. cardholders. The service monitors your credit on Equifax and has experts scouring the web for your compromised credentials. It’ll send alerts when it detects suspicious activity that involves your personal information or notify you when someone uses your details in a transaction.
Signs That Your Credit Card Identity Has Been Stolen
Identity theft protection services are designed to detect suspicious activity, but they may not always spot everything. Regularly checking your credit reports and statements will help you identify potential issues quickly.
The following telltale signs can tell you if your credit card identity has been stolen:
- Unexplained charges—Check your credit card statement to find unfamiliar transactions you didn’t authorize
- Calls about accounts you didn’t open—Debt collectors may call you to request payment for debts you have no idea about
- Changes to your credit report—Review your credit report for new accounts or inquiries you didn’t authorize
- Denied credit applications—Creditors may refuse to approve your new credit application if there’s suspicious activity or outstanding debt on your account
- Delayed mail or bills—If your financial mail or bank statements and credit card bills repeatedly fail to show up, a fraudster may have stolen your identity and changed the address on your card account
What To Do if You’re a Victim of Credit Card Identity Fraud
If you suspect that your credit card identity has been stolen, take immediate action by following these steps:
- Contact your credit card issuer—Report the fraudulent activity to your credit card issuer immediately so they can dispute the charges and freeze your card
- Place a fraud alert on your account—Contact the three major credit bureaus to place a fraud alert to dissuade identity thieves from opening an account in your name
- File a police report and work with the FTC—File a report of identity theft with your local police fraud department and visit the FTC website for assistance with identity theft recovery
- Consider identity theft protection services—If you don’t already use one, consider signing up for their services for prompt fraud-related alerts and assistance with financial recovery
- Secure your funds with advanced protection—If a fraudster has your card information, you’re vulnerable to all kinds of attacks, including account takeover.
