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Balance Transfer Cloned Cards

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  • Post last modified:January 2, 2024
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Take control of your debt

If you’re paying interest on a cloned, credit or store cards, you could consolidate what you owe with one of our balance transfer obtained from the cloned cards – and step toward a debt-free future.

  • Checking your eligibility can show you if you can get a clonedcardS, without affecting your credit score
  • If you stay within your credit limit and make at least your minimum payment on time every month, you could avoid paying interest on your transferred balances during your promotional period

What is Credit Card Cloning Fraud?

Credit card cloning fraud – sometimes known as card skimming – is a type of credit card theft in which a fraudster creates a copy of a legitimate user’s credit card.

How Card Cloning Scams Work

Fraudsters typically rely on technologies like skimmers, small devices that can be affixed to hardware like point of sale (POS) terminals at a physical retail location or even at an ATM. These skimming devices act as card readers that collect an unsuspecting victim’s credit card information – including card numbers, PINs, and CVV data – by reading the magnetic stripe on the back of the physical credit card or debit card. They are also cheap and can be obtained through online purchases.

Fraudsters can implement a fake keypad on the POS terminal or ATM that allows them to steal the real cardholder’s PIN information. Once they have collected this information, they can take the stolen credit card information, PIN, and CVV data to make a new, physical card to make fraudulent purchases in the real cardholder’s name. The cardholder might not realize something has happened until they check their financial statements, bank accounts, or see a change in their credit score. 

Cloning doesn’t need to be physically done anymore, either. Contactless technology has made it possible for fraudsters to steal numerous card numbers using remote scanning devices simply by walking down a crowded fa with a concealed scanner in their backpack or purse. 

Examples of Credit Card Cloning

Card cloning is a global phenomenon that surged by 34% across all regions according to Feedzai research. Last year, police in Ireland arrested a pair of men and seized 66 credit cards that had been cloned using skimmers. In India, more than 350 cloned cards were seized by police just last month. In the United States, the FBI recently arrested six people for stealing over $200,000 from gas stations using card skimming technology. 

How Big of a Problem is Card Cloning?

The numbers speak for themselves.

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