Credit card scams have been around for as long as credit cards themselves. Scammers continue to devise new and more sophisticated tactics to exploit unsuspecting consumers, and you want to be aware of these to keep your hard-earned savings or business cash reserves safe.
In this article, we’ll discuss the definition of a credit card scam, its types, steps to take if you fall victim to one, and tips to get your money back.
What Is a Credit Card Scam?
A credit card scam is a deceptive scheme in which scammers trick you into willingly providing your credit card information or making unwanted transactions. These scams often use social engineering tactics, where the victim is convinced to share personal details like their credit card number, PIN, and CVV code.
Credit card scams play on emotions, such as fear of losing money or missing out on rewards, refunds, or deals.
These scams differ from credit card frauds, which occur when your card information is stolen and used without your knowledge. Frauds occur through data breaches or skimming devices, and the victim is unaware of the theft until the unauthorized transactions are discovered.
Common Credit Card Scams To Be Aware Of

Credit card scammers target individuals through many manipulative methods. In each case, the result is to persuade you to either share your credit card details or use your card for a transaction you didn’t mean to make. Here are five common ways scammers achieve this:
- Credit card phishing scam
- Credit card reward scam
- Lower interest rate credit card scam
- Credit card phone scam
- Charity/donation scam
Credit Card Phishing Scam
In a credit card phishing scam, the scammer impersonates a legitimate organization, such as your bank or payment service provider, to trick you into revealing your card information.
They will reach out via email, phone, or text, using convincing and official-looking messages that create a sense of urgency or fear.
For example, you might receive an email from your “bank” claiming that there’s an issue with your account and that you need to provide your credit card details to resolve it immediately.
The phishing message contains a link to a fake website that looks identical to the real one. Once you enter your credit card number, CVV, expiration date, and other personal details, scammers can use this information to steal your identity or make unauthorized purchases. For businesses, phishing scams target employees by impersonating executives or vendors.
Credit Card Reward Scam
In this type of credit card scam, scammers lure you in by promising fake rewards, cashback, or points in exchange for your credit card information.
Similar to a phishing attempt, you are contacted through a seemingly official email, phone call, or text claiming you’ve won a reward from your credit card provider. However, they will require you to verify your identity to redeem it. When you enter your details to claim your reward, your information is stolen for fraudulent activities.
This scam exploits the popularity of reward programs that offer points, cashback, or travel perks for credit card use. Scammers specifically target shoppers searching for discounts, making these scams difficult to resist.
Lower Interest Rate Credit Card Scam
Lower interest rate credit scams are schemes in which scammers promise to reduce the interest rate on your credit card. This scam preys on both individuals and businesses looking to save money on high-interest credit card debt.
You are contacted by a scammer informing you that you’ve been selected for a special program to reduce your interest rate. They often state it’s a limited-time offer or that you’re pre-approved. The purpose is to create a sense of urgency to make you act quickly without thinking.
To process the “interest rate reduction,” the scammer requests personal and financial details. Often, scammers use automated calls to reach many victims, who are directed to press a button to “speak to a representative.”
Credit Card Phone Scam
An arrest phone call is a particularly aggressive type of credit scam. In this scenario, scammers impersonate law enforcement or government officials, claiming that you or your business are under investigation for unpaid debts or legal violations. They also inform you that immediate action—such as paying a fine or settling credit card debts—is required to avoid arrest.
This scam plays on fear and pressures you into revealing your personal information or sending money to the scammers. Here are some characteristics of a credit card phone scam:
- Caller ID spoofing to make the call look like it’s coming from a legitimate government agency or law enforcement office
- Use of legal terms or references to specific laws to make the phone call seem more intimidating
- A convincing fake case number, warrant, or ID badge number
Charity/Donation Scam
In this type, scammers exploit your goodwill by pretending to represent legitimate charities or causes. They target individuals and businesses during times of crisis or disaster to manipulate them into making a donation with their credit card. They may also request credit card information; from then on, it’s a downward spiral.
The request for donation appeals to your emotions by highlighting a pressing need, such as aiding disaster victims, helping sick children, or supporting veterans.
While legitimate organizations do reach out for donations via cold calls, you should be cautious about any unexpected requests for your financial details over the phone. Scammers are adept at playing on emotions and understand how compelling specific stories can be in swaying individuals.
Credit Card Scams Warning Signs
Catching credit card scams requires you to be ultra-vigilant with every transaction, especially when dealing with new or unfamiliar payment accounts. Here are some key credit card scam warning signs that you should be aware of:
- Receiving unsolicited emails or calls from banks or financial institutions
- Pressure to act immediately to avoid account issues or claim refunds
- Unsolicited requests for sensitive information like your credit card number
- Too-good-to-be-true reward offers
- Mismatched contact details compared to official company sites
What To Do if You’re Scammed on a Credit Card
Many banks and credit card companies—such as Visa, Mastercard, and American Express—offer zero liability policies, which protect you from being held responsible for unauthorized transactions made with your credit card.
If someone uses your credit card without your permission, the zero liability policy ensures you are reimbursed for those charges.
However, because credit card scam victims willingly share their personal information with the scammers, this may complicate liability, and your card provider may launch an investigation to determine who is responsible for the lost funds.
In addition, if your credit card provider determines that the transaction was made by an authorized user on your account, your zero liability claim may be denied.
Nonetheless, you should take the following steps to increase your chances of retrieving lost funds:
- Freeze your account
- Contact your card issuer’s support
- Follow up after 15 days
- File a complaint with the Consumer Financial Protection Bureau (CFPB)
- Apply for a credit freeze
- Request your credit reports
- Report the scam to the Federal Trade Commission (FTC)
Freeze Your Account
After realizing you have been scammed, the first step is to contact your card provider and request that they freeze your card.
Here are the contact numbers for some of the biggest credit card issuers in the United States:
Credit Card Issuer | Contact Number |
Chase | 1-800-432-3117 |
Visa | 1-800-847-2911 |
Discover | 1-800-347-2683 (1-800-DISCOVER) |
American Express | 1-800-528-4800 |
Capital One | 1-800-227-4825 (1-800-CAPITAL) |
Citibank | 1-800-950-5114 |
Mastercard | 1-800-627-8372 (1-800-MASTERCARD) |
Bank of America | 1-800-732-9194 |
Contact Your Card Issuer’s Support
Gather evidence of the scam, including emails and text messages, and contact your card issuer.
Talk to the support team about the disputed charges and inquire about the dispute process. Use this call to understand what information the card issuer needs to resolve the issue.
After the call, follow up with a dispute letter, which will serve as an official record of your complaint. Ensure you send your dispute letter within 60 days of receiving your credit statement, which includes the disputed charge.
In your dispute letter, include:
- Your full name
- Account number
- Date and amount of the disputed charge
- Explanation of why you believe the charge is incorrect
- Supporting documents (e.g., receipts, photos, or screenshots)
- FTC report and police report (if applicable)
Follow Up After 15 Days
After sending your letter, wait at least 15 days. If you don’t hear back, contact the credit card issuer company via phone, email, or online customer support portal.
Inquire about the status of your dispute. Specifically, check if they have received your letter and whether the credit card scam evidence you provided is sufficient for their investigation.
Keep a record of all interactions with your credit card company. Document the date, time, support representative’s name, and a brief summary of the conversation.
Once the company’s investigation is complete, you will be told whether the disputed charges can be reimbursed.
File a Complaint With the Consumer Financial Protection Bureau (CFPB)
If your card issuer decides you are liable for the lost funds while you think you should be reimbursed, consider contacting the CFPB.
You can file a complaint with the CFPB by:
- Submitting your complaint online
- Calling (855) 411-CFPB (2372)
The CFPB will record your information and communicate it to the card issuer. When the issuer replies, you will receive an email with updates. You will have the opportunity to review their response and provide feedback within 60 days.
Apply for a Credit Freeze
A credit freeze limits access to your credit reports. It prevents scammers from opening new credit accounts in your name, which could affect your credit score.
During the freeze, you can still apply for jobs, rent apartments, or purchase insurance without having to lift it. You can temporarily lift the freeze if you need to apply for new credit.
You will need to reach out to each of the credit bureaus to apply for a credit freeze. Here are their phone numbers:
- Equifax: 1-888-378-4329
- Experian: 1-888-397-3742
- TransUnion: 1-833-806-1627
A credit freeze remains in effect until you decide to remove it and is free of charge.
Request Your Credit Reports
You are entitled to receive a free credit report from each of the three credit reporting agencies (CRAs) once a year.
AnnualCreditReport.com is the only federally authorized website for obtaining your free annual credit reports from CRAs. You can request your reports in the following ways:
Method | Steps To Take |
Online | Visit AnnualCreditReport.com |
By phone | Call 1-877-322-8228 (TTY: 1-800-821-7232) |
Via mail | Complete the Annual Credit Report request form and mail it to: Annual Credit Report Request Service PO Box 105281 Atlanta, GA 30348-5281 |
Reviewing your credit reports will help determine whether the scam has damaged your credit score. It will also help you ensure the scammers are not using your identity to take out loans in your name.
Report the Scam to the Federal Trade Commission (FTC)
When you report a scam, the FTC uses the information to develop cases against scammers, identify trends, inform the public, and share insights about fraudulent activities in your area. Consider reporting the scam to the FTC so the scammers can be caught.
If the scam involves sharing your personal details in addition to credit card information, make sure to also report potential identity theft.
Tips for Avoiding Credit Card Scams
Prevention is key—here are some tips to keep credit card scams at bay:
- Engage in regular monitoring—Frequently check your bank and credit card statements to spot any unfamiliar or unauthorized transactions. Many financial institutions also offer real-time transaction alerts through their apps or via SMS/email, so make sure they’re enabled
- Use secure websites—When shopping online or making payments, only use secure websites (those that start with “https” and display a padlock symbol in the address bar). Avoid entering your card details on websites you don’t trust or that lack proper security measures
- Use two-factor authentication (2FA)—Enable 2FA for your credit card account and online banking apps. It requires a second form of identification (e.g., a text message code) to access your funds
- Never share personal information—Never share your credit card number, PIN, or CVV over the phone or email unless you initiate contact with a trusted source. Always verify the identity of the person or company by contacting them directly using official contact channels
- Move your funds to a high-security banking platform—Credit card scammers can use your personal information to hack into your bank account and steal a significant portion of your business cash reserves or personal savings. To avoid this, move most of your funds to a high-security bank account like FortKnox by Austin Capital Bank. FortKnox is a high-yield savings account with a single goal: protection against scams