When I use water-based inks and I am afraid of bleeding, I use one of the following:
Tim Holz distress glaze. This is a wax that you rub into the finished project. It leaves a very slight sheen, and has to be done at the end because you cannot work over it. I don’t think it would protect against severe water damage but it is good enough for when something is a little wet from rain. I also use this over paper if I am afraid the paper will dissolve or the printing may run if it gets wet. Be sure your project is completely dry before you use it, because otherwise the rubbing may smear the ink. (I would love to find a similar “no name” wax glaze because to be honest I think most “Tim Holz” products are ridiculously expensive, so if anyone knows of one, please speak up!! )
Clear spray lacquer I use spray lacquer with good results. I have matte, satin, and shiny finish and am happy with them.
Book covering adhesive plastic. If it is a smooth card and I want a “finished” looking front I will cover it with a library-quality book covering adhesive plastic. This is like the panzer glass of card protection and I love the finished look, but it only works if the paper is smooth and there is no dimension to the art (and if you want a shiny surface)