One of the biggest benefits of using credit cards instead of cash is the security element. There are more protections in place against things like theft. Today let’s take a look at some of the specific things credit cards offer to help keep your money safe.

Some of the credit card protections listed below are found in virtually all offers, and others are specific to different cards and issuing banks. But here are five features your credit cards might offer to help you better protect your purchases in ways that cash can’t.

1. Fraud protection

Unlike fraudulent purchases made with stolen cash, you won’t lose all of your money if fraudulent purchases are made on a credit card. Just make sure the fraud isn’t a result of your own negligence and that you report the stolen card immediately. As long as you abide by the terms and conditions of your card, things like the online fraud protection guarantee with the American Express Platinum card might mean you’re covered for the full amount of the fraudulent purchases.

2. Purchase cover

Some credit cards offer purchase cover — basically insurance against damage or theft of items purchased with your card for a limited time. This can be convenient if your items aren’t eligible for the store’s return policy. For example, the American Express Platinum MoneyBack credit card features platinum protection where your card issuer credits your account. That happens if the retailer refuses your refund request on eligible items or if the item is damaged or stolen within 90 days of making the purchase.

3. Extended Warranties

Similar to purchase cover, some credit cards offer extended warranties. These are often extensions on manufacturer warranties that go 12 months beyond the original warranty. That protects you from defective merchandise purchased using your credit card. One card offering extended warranties is the Citi Select credit card.

4. Replacements

If your cash it lost or stolen you’re out of luck. But credit cards are different. Not only can the credit card company put a hold on the account to stop a thief from using it, but the credit card itself can be replaced. Some companies even offer emergency card replacement to get you a new card faster (although additional charges might apply). One such card is the St. George Vertigo MasterCard.

5. PINs

If you lose your cash and someone else picks it up, they can simply take it to a store and spend it. But credit cards are a bit different. If your card has a PIN, the card is more difficult to use because someone would need to know your personal identification number to make the purchase. This might not help as much if someone tries to use the credit card information online, but it does give you more time to realise the card is missing and report it to the credit card company. With cash, it can be spent immediately and your chances of stopping it from being spent are slim to none.

Do your credit cards offer most or all of these purchase protections? Review your terms today and find out how your credit card company protects you and why your credit cards are often a safer spending option than cash.