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- Identity theft and identity fraud. A thief will contact you directly, impersonating someone else to persuade you to release sensitive information about your identity that will give them access to your credit cards.
- Skimming scam. Credit card skimmers are accessories placed on point-of-sale devices to steal your payment information. They’re designed to resemble the real credit card terminal so you won’t suspect a thing during the transaction.
- Phishing scam. Phishing is the act of sending messages (usually email or text) to trick you into either sharing personal information or clicking a link that downloads malware onto your device.
- Social Security benefits scam. Social Security is a favorite target for fraudsters. You may receive a notice that urges you to make a payment or your Social Security number will be suspended.
- Louis Denicola
- AI-Powered Scams. Perhaps the most obvious example of scammers using new technology to power existing scams comes from artificial intelligence (AI). For example, scammers might use AI to
- Student Loan Forgiveness Scams. The back-and-forth changes in student loan forgiveness creates a ripe opportunity for scammers. The scammers know people want to believe their student loans will be forgiven, and they'll use that hope for their personal gains.
- Phone Scams. Scammers may contact you by phone, and some phone scams rely on smartphones' capabilities to access the internet and install malware. These can include
- Zelle Scams. Scammers are turning to Zelle, a peer-to-peer payment app, to steal people's money. The scammer might email, text or call you pretending to work for your bank or credit union's fraud department.
Learn more about scams by visiting ftc.gov/scams. Other Types of Attacks - Be Aware! Phishing : When a fraudster tries to get your private information via an email or a website.
Oct 16, 2023 · Reporting credit card scams is critical in minimizing the damage to your finances if you do get scammed. If you notice an unauthorized transaction on your account or fear you've given your card information to a scammer, the first thing you should do is contact your credit card issuer through your card app, online or by phone.
- Andrea Norris
- Overcharge Scams
- Interest Rate Reduction Scams
- Arrest Phone Call Scams
- Donation Scams
- Skimming
- Phishing Scams
- Bottom Line
An email, text or call comes to the target claiming his or her credit card has been overcharged for a product or service. To be properly refunded, the target is informed they must follow steps that include revealing sensitive information.
Some of the most familiar over-the-phone scams in recent years come from “companies” claiming they can reduce their target’s credit card interest rate and save them thousands on interest.
To those familiar with identifying phone scams, these may seem like some of the most far-fetched and laughable. To unsuspecting targets, however, they can be particularly distressing—which, sadly, the scammers count on to make them work.
One of the simplest but most effective credit card scams, this one tricks the target into willingly volunteering their credit card information over the phone.
A classic form of credit card information theft, this scam has persisted despite the introduction of EMV cards, also known as chip cards.
Similar to overcharge scams, phishing scams pose as a legitimate company or service but provide fraudulent instructions or links to gain access to sensitive information. Some of the most dangerous ones attempt to access financial information directly by posing as a real credit card company or another real entity that would conceivably need legitima...
With the increasing use of credit cards and online transactions, the risk of payment-related scams has grown. Scammers are exploiting the rise in remote payments and online sales to target unsuspecting individuals. Understanding common scams like overcharge scams, interest rate reduction scams, arrest phone call scams, donation scams, skimming and ...
- Harlan Vaughn
Dec 21, 2023 · Credit card scams happen when a lie or trick prompts you to initiate a payment from your credit card. It could be online, over the phone, by email, on social media or in person. Identity fraud happens as a result of identity theft —when personally identifiable information (PII) , like your account numbers, Social Security number, sign-in IDs and passwords, is taken.
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Losing money or property to scams and fraud can be devastating. Our resources can help you prevent, recognize, and report scams and fraud.
