Credit Card Scams
February 3, 2025
Credit card fraud takes place when a physical credit card, card information, or account numbers are stolen and used to make unauthorized charges. When an individual is contacted by a scammer, it is common to be pressured to act immediately, as they do not want you to thoroughly think through the decision or to reach out to others. There are several different scams fraudsters use to commit credit card fraud, which are highlighted below.
Common Credit Card Scams
- Interest rate deductions – Bad actors pose as customer service representatives from well-known credit card issuers to convince cardholders they are eligible for a limited-time promotion.
- Charity scams – Scammers take advantage of generous individuals by asking for charitable donations, especially after natural disasters and other newsworthy events.
- Public Wi-Fi scams – Do not connect to unsecured Wi-Fi networks, as criminals can gain access to your devices and steal your personal information, including credit card information.
- Online shopping scams – Fraudsters send fake links claiming to be from your card issuer that promise credit card rewards, but initiate malware downloads instead.
- Skimming and shimming scams – Bad actors install skimming devices to collect card data from payment terminals and card readers. Gas pumps and ATMs are common targets for this scam.
- Overcharge scams – Scammers call or email claiming you overpaid on your credit account and ask you to verify your card number for a refund.
- Phishing scams – Fraudsters reach out by email, text, or call posing as well-known businesses or organizations to trick you into providing sensitive information. In the case of credit card phishing scams, it is common for scammers to claim your card number was compromised to receive your personal information.
Things Legitimate Credit Card Issuers Will Never Do
- Contact you via call, text, or email to request payment.
- Call you to ask for a donation.
- Ask you to pay a fee for unexpected rewards.