Beware of these common credit card frauds and scams

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Using a credit card when purchasing is a convenient and safe payment method. Their safety features include PINs and a safety chip inside. As long you use them cautiously, the risks of losing your money or falling into scams are minimal.

Unfortunately, scammers and fraudsters are always trying to take advantage of innocent people for their greed. Be careful not to fall into these credit card frauds and scams:


A scammer will send you an email claiming to be from a bank or a trusted organization to gain your trust. They will attempt to get your personal banking information by prompting you to click on a link.

Do not click on any links in an email to be safe. If you’re unsure, call your bank to check if they sent you an email.

Phishing or bogus calls

The phishing scam happens when you receive a call from an individual claiming to be a bank representative. They will inform you of a high amount of outstanding credit card balance under your name and will scare or pressure you if you don’t make the payment immediately.

If this happens to you, drop the call and contact with your credit card issuer immediately to sort this problem out.

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Skimming is done by installing a device to the magnetic strip of a machine. Fraudsters capture information of your card when you go through the machine or when dishonest retail outlet staffs swipe your card while you are not looking.

Keep your eyes on your card when paying and beware of suspicious devices on credit card machines.

Application fraud

A criminal will first gain information about you by stealing documents such as bank statements and utility bills. Then, they will apply for a credit card using your identity.

Contact the authorities if you suspect someone misusing your identity.

SMS spoofing

Scammers will pretend to be from a bank by replacing their mobile number with a seemingly real bank number. The content of the message will ask for your information urgently.

Don’t respond to these texts and call your bank immediately.


Avoid falling into these traps by practicing caution. Some precaution includes shopping only on private networks, keep track of your credit card statements and tear all unwanted credit card documents.

Don’t let these frauds and scams scare you to not owning a credit card. You can still enjoy the benefits of having a credit card if you be careful. Sign up for a credit card by visiting