July 4, 2011
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5
min read
It is important to know what policies credit card companies have in place to protect you from fraud. If you notice suspicious activity on your credit card that you can’t account for, stop using your card and contact the credit card company, and ask about their zero liability policy.
Zero Liability extends to any purchase you make using your MasterCard card, in a store, by mail, phone, or online.
Be safe from unauthorized purchases. If you’re a MasterCard or Visa credit card cardholder, you’ll be covered under the Zero Liability policy in the event of the unauthorized use of your Canadian-issued card.
If someone steals your credit card number, you pay nothing for their fraudulent activity. This policy applies to any item purchased with your card or account number including online purchases. It is important to closely monitor your monthly statement to identify any unauthorized transactions.
If you suspect unauthorized activity on your account, stop using your card and contact the bank that issued your Visa or MasterCard card as soon as possible. Refer to MasterCard’s Fraud Prevention Page for more information.
In addition, Visa also provides added protection to cardholders who shop online, by phone or mail, with the Visa E-Promise. The Visa E-Promise assures cardholders that if they have tried, and have been unsuccessful in resolving a dispute with a merchant, they can contact their bank directly to resolve the credit card charge in question.
For added security when shopping online, before fraud occurs, read our blog post about MasterCard SecureCode or Verified by Visa.