High riskBank & Payment

Card Rewards Redemption Scam

In this scam, a call or message claims your credit card reward points are expiring and must be redeemed now, then asks for your card number, OTP, or login to 'process' the redemption and drains your account.

Quick verdict

Risk level
High risk
Scam type
Bank impersonation (rewards phishing)
Main red flag
An urgent call or text to redeem expiring card reward points by sharing card details or an OTP.
What to do first
Hang up and check rewards only in your bank's official app; never share an OTP.

Understanding this scam

In this scam, a call or message claims your credit card reward points are expiring and must be redeemed now, then asks for your card number, OTP, or login to 'process' the redemption and drains your account.

Bank and payment scams weaponise your trust in your bank and your fear of losing money. They fake fraud alerts, blocked payments, or refunds, then steer you into moving money to a "safe account", sharing a one-time code, or approving a transfer, actions a genuine bank will never ask of you.

If you take one thing from this guide, make it this: An urgent call or text to redeem expiring card reward points by sharing card details or an OTP. Hang up and check rewards only in your bank's official app; never share an OTP.

If your message looks slightly different, check the Loyalty Points Scam or the Bank Impersonation Phone Scam, both are close cousins of this pattern. Every related guide lives in the Bank & Payment Scams guides, and the scam checker can scan the text you received.

A typical example

Example pattern, not a real report
Example pattern: 'Your card reward points worth $200 expire today. Share your card number and OTP to redeem them now.'

This is a fictional, anonymised example used to illustrate the pattern. It is not a verified real message, and any names are used only to show how the scam typically reads.

The tell here: An urgent call or text to redeem expiring card reward points by sharing card details or an OTP.

What the data shows

#1
copycat bank fraud alerts were the most-reported text scam in the US in 2022
Source: US Federal Trade Commission
£459.7M
lost to authorised push payment (APP) fraud in the UK in 2023
Source: UK Finance

Warning signs

  • An urgent rewards-expiry call or message
  • A request for your card number, OTP, or login
  • Pressure to redeem immediately
  • A caller or link not from your real bank
  • An offer to 'process' redemption for you

Your safest response

  • Check and redeem rewards in your bank's official app or website
  • Never share your card number, OTP, or login
  • Call your bank using the number on your card
  • Report and delete the message

If you have already engaged

  • If you shared details or an OTP, contact your bank immediately
  • Change your online banking password from a trusted device
  • Review transactions and report anything unfamiliar
  • Block the card if needed

What to avoid

  • Do not share your card number or OTP to redeem points
  • Do not act on rewards-expiry pressure
  • Do not call back on a number the caller gives

You might also see

Medium risk Text Message

Loyalty Points Scam

This scam claims your loyalty points, reward balance, or air miles are about to expire and pushes you to redeem them through a link, which leads to a phishing page built to steal your account login or card details.

Created by Scam or Safe Editorial Team
High risk Bank & Payment

Bank Impersonation Phone Scam

In this scam a caller pretends to be your bank's fraud team, claims your account is under attack, and pressures you to move money to a 'safe account', read out one-time codes, or grant remote access so they can steal your funds.

Created by Scam or Safe Editorial Team
High risk Bank & Payment

Fake Bank Alert Text Scam

This scam sends a text claiming suspicious activity on your account, then steers you to a fake login page or a 'fraud agent' who pressures you to move money.

Created by Scam or Safe Editorial Team

Questions people ask

Does my bank ask for an OTP to redeem points?
No. Reward points are redeemed in your bank's official app or website, and you should never share an OTP or card number to 'process' a redemption.
My points might really expire. What do I do?
Check the genuine expiry and redeem in your bank's official app, not via an unsolicited call or link.
I shared my OTP. What now?
Contact your bank immediately, change your banking password from a trusted device, review transactions, and block the card if needed.
Why use rewards as the lure?
Reward points feel like 'free money' you might lose, so urgency makes people share details quickly, which is the scammer's goal.

Last reviewed June 2026 · Written & reviewed by the

Disclaimer: This page provides educational information only to help you recognise common scam patterns. It is not legal, financial, cybersecurity, or law enforcement advice, and it does not confirm whether any specific message, company, or person is genuine or fraudulent. When in doubt, contact the official organisation directly and report concerns to your local authorities.