Back to blog

What is credit card fraud?

It’s not surprising that there's been a big shift to online shopping and a dramatic increase in the amount of digital transactions during the pandemic. Unfortunately, criminals don’t discriminate, even during these tough times, and there’s been a reported 23% increase of identity fraud since early March.

The damage caused to your financial future from identity fraud can be huge and yet most of us aren't doing anything to protect ourselves. No, your credit card company doesn’t cover identity fraud, and it’s important to understand the difference between identity fraud and credit card fraud:

In today’s world we are all at an increasing risk of becoming a victim of identity fraud and it’s up to us to protect ourselves. This is why we created MogoProtect, the easiest way to help protect yourself from becoming a victim. MogoProtect will monitor your Equifax credit bureau daily and alert you about any hard inquiries on your bureau – the first sign that someone may be trying to take credit out in your name. If you notice a suspicious inquiry, we’ll help guide you through the steps to help stop fraudsters in their tracks. The good news is that you can now get identity fraud protection free for 6 months from Mogo. Just log in to your account and activate MogoProtect with promo code “STAYSAFE”.1


Not sure how to get started? Download the app today to learn more about Mogo and how we can help you take steps towards healthier financial habits. Download the app on IOS here and on Android here.

–The Mogo Team

1 - Past performance is not indicative of future results. For more information on historic average annual returns for the S&P 500, see:

What are you looking for?

What are you looking for?