Credit card companies often offer identity theft protection on the credit cards they offer. There is so much identity theft in the world today that it can be a very smart coverage to consider. Identity theft protection can be purchased for a very small amount, depending on the company and their protection program. It can be a set amount per month or can be based upon your balance that you carry on your credit card. Either way, identity theft protection is very much needed, with all the identity theft there is.