Falling for a 'card limit upgrade'? That OTP could drain your account

Fraudsters are tricking customers into sharing OTPs by posing as bank executives offering higher credit limits

A new scam is doing the rounds, targeting credit card users eager for a higher spending limit. Fraudsters are calling or messaging customers, pretending to be bank executives offering an instant increase in their card limit.

 

How the scam works

Scammers first approach cardholders claiming to be from a reputed bank. They offer to raise the card’s credit limit, citing “pre-approved eligibility” or a “special festive offer”.

 

Then comes the key step: they say an OTP (one-time password) will be sent to your registered mobile number to “authorise” the limit enhancement. The unsuspecting customer, thinking it’s a standard procedure, shares the OTP over the call.

 

 

In reality, that OTP confirms a fraudulent transaction or fund transfer, not a limit increase. Once shared, the scammers immediately use it to complete online purchases, transfer money, or even reset your card’s credentials.

 

Why it looks convincing

 

• Calls often display genuine-looking bank names or helpline numbers.
• Scammers may have partial details such as your name or the last four digits of your card.
• The language and tone mimic official communication.
• Sometimes, a fake email or SMS follows the call, reinforcing the illusion of legitimacy.

What banks say

Banks repeatedly caution customers that no OTP is ever required to increase a card limit. Official limit enhancements are done through secure channels like:

 

The bank’s mobile app or net banking, or

 

A verified customer service number listed on the bank’s website.

 

If you receive such a call, hang up immediately and report it to your bank’s helpline or cybercrime portal (www.cybercrime.gov.in).

 

How to protect yourself

• Never share OTPs, PINs, or CVV numbers with anyone, even if the caller claims to be from your bank.
• Ignore calls or messages promising instant benefits or upgrades.
• Enable transaction alerts to spot unauthorised activity early.

 

If a scam occurs, contact your bank and report it to the National Cybercrime Helpline (1930) within minutes.

 

The takeaway

Banks never ask for OTPs over calls, messages, or emails. If you get one claiming to “increase your limit”, treat it as a red flag, not an upgrade.