Learn how to report credit card fraud and protect your finances. Here are some things to consider when reporting credit card fraud to take action against unauthorized transactions.
This article contains general information and is not intended to provide information that is specific to American Express products and services. Similar products and services offered by different companies will have different features and you should always read about product details before acquiring any financial product.
Credit card fraud is on the rise, but there are several things you can do to take back control of your credit.
It’s important to report credit card fraud as soon as you suspect it, to your card company, local law enforcement, and the credit reporting agencies.
Prepare to provide your card issuer with details of fraudulent transactions and proof that you didn’t make them.
Unfortunately, how to report credit card fraud is a question more people ask every year, as the volume and value of fraud increases annually. Federal Trade Commission data show 2.4 million fraud reports in 2022, including nearly 442,000 cases of credit card fraud. Moreover, 2022 saw a 13% surge in fraudulent new credit card accounts. 3 The good news is, the sooner you act to report credit card fraud, the less likely you’ll encounter any serious ramifications—and the sooner you can regain control of your personal finances.
Credit card fraud comes in different forms, so knowing the different types of credit card fraud can help you spot fraud faster. Always be on the lookout for suspicious activity on your cards and notify your card issuer immediately if you lose a credit card, are locked out of your account, or notice suspicious activity.
Identity theft
Identity theft for credit card fraud comes in two forms: application fraud and account takeover. Application fraud occurs when someone uses your information to apply for a credit card. This can have a negative impact on your credit score, though recognizing this fraud can help you avoid responsibility for purchases. An account takeover occurs when someone gets access to your card and then changes your account information to lock you out. In this case, you may have trouble logging into your account online or using your card.
Card not found fraud
Unlike a stolen or lost card, card not found fraud sees scammers use your credit card information without having physical access to your card. If a scammer steals your name and credit card number, they may have enough to commit fraud. You can only catch these charges when reviewing your statement or your recent purchases online.
Stolen or lost card
If you lose your card or your card is stolen, thieves can use the card to easily make purchases. The best way to protect against this type of fraud is to contact your credit card issuer the moment you realize your card is missing.
Card skimming or cloning
Card skimming and cloning happen when a thief steals your credit card’s data and information and creates a clone card. A common skimming method involves fitting a skimming device onto a machine that processes credit cards, such as those at a gas station or convenience store. You can only spot this type of fraud by checking recent activity on your card. Your credit card issuer might also begin blocking purchases and then inform you of suspicious activity.
