Credit card fraud is a very broad term for theft or fraud committed on a person’s credit card. Credit card frauds are similar and sometimes a part of identity theft which involves stealing of sensitive financial information. There are many ways in which a person can become the victim of such a fraud. Some of them include stolen cards, identity theft, misrepresentation, and internet related frauds. It is important to safeguard against frauds and scams which can often come out of the blue and wreck havoc on a person’s finances if not stymied in time.