Is positive balance insured?

SiMaster

Hi

Is a positive balance on a mastercard insured.

I know the banks insure their money on the card against theft or fraud but do they cover a positive balance? i.e is my money on the card insured.

Thanks for your help.

jonathon

I dont think so most cards dont allow a positive balance

Moggles_2

If you spend from a positive balance, your purchases are not covered by the credit card's insurance, because technically it's not credit and you are not buying under your "credit" agreement.

Additionally, if your card was stolen, you wouldn't be covered for fraudulent transactions.