Credit Card EMI Conversion Scam by SMS

How it looks by SMS, the red flags and what to do.

A text message is the cheapest way for a scammer to reach thousands of phones at once, and the sender name can look like a bank, a courier or a government office. Credit Card EMI Conversion Scam is one of the ways this shows up: A caller says your large card bill can be turned into zero-cost EMI and asks for an OTP, which approves a new purchase on your card.

What credit card emi conversion scam looks like by SMS

• A request to call a number, install an app or share an OTP.
• Several near-identical messages arriving together from different senders.
• A sender name that resembles a bank, courier, tax or utility, or an ordinary mobile number.

The scammer calls someone who has recently used a credit card for a large expense, often found through leaked data or a guess based on the festival season. They mention the bank by name, a nice-sounding rate and a short period, and say that they are doing a special drive for selected customers. They sound well informed and friendly, which lowers your guard.

Red flags to check on the text message

• A caller offers to convert your card bill into EMI.
• Your card number, CVV and a code are requested.
• The code is described as a registration code.
• A special drive for selected customers is mentioned.
• It promises a refund, prize or cashback you never asked for.
• It tells you to install an app from a link instead of the official store.

What to do

1. End the call and share no card detail or code.
2. Look for EMI options inside your bank's official app.
3. Call the number on the back of your card if you want to know more.
4. Paste the text into a scam checker (Safeavio Sentinel can check it) before you do anything else.
5. Report the sender on the Sanchar Saathi portal (Chakshu facility) and block the number.
6. Delete the message and tell family members who may get the same text.

You can report suspicious SMS and calls on the Sanchar Saathi portal (Chakshu facility) of the Department of Telecommunications.

If money or a code is already gone

1. Call your bank on the number on your card and block the card immediately.
2. Call 1930 and report the transaction details and time.
3. Ask the bank to start a dispute for the purchase you did not make.
4. Report at https://cybercrime.gov.in with the call log and alerts.

National Cyber Crime Helpline: 1930; report at cybercrime.gov.in.

Safeavio's Money Shield includes the rule that no OTP, PIN or CVV should be shared with anyone, including people who say they are from the bank. The scam check can review a follow-up SMS or link that you paste. It does not block calls by itself, so end the call and use the bank's app or the number on your card.

Full guide: Credit Card EMI Conversion Scam: how it works, signs and what to do. Other channels: phone call, WhatsApp.

Questions