A new survey conducted by CardRates.com found that 71% of Americans have suspected an election donation request to be a scam.
With this data and additional survey results, CardRates.com uncovers concerns about election donation scams and how they impact donation support with credit cards.
“In the past two years, 100% of respondents used credit cards to donate to the last two presidential elections,” said Erica Sandberg, a consumer finance expert with CardRates.com. “Thankfully, credit cards provide many financial benefits compared to debit cards that help protect consumers against potential scams and recoup any financial losses from a successful election scam. It’s important for individuals to consider the signs of a potential donation scam if they are looking to donate to a political campaign or use a credit card to give towards a cause as we are in the middle of the 2024 election season.”
The survey found common areas where respondents said they were affected by election donation scams, including how it impacted their spending habits and credit card use to financially support a political candidate.
Key findings of the CardRates.com survey include:
- 100% of people surveyed used credit cards as their primary source for financial contributions to the past two presidential campaigns.
- 75% of respondents who use credit cards for political donations said concerns of donation scams would impact their involvement in monetarily supporting an upcoming election.
- More than 65% of respondents donate up to $500 or more via their credit cards.
- 60% of participants would prefer to use a dedicated credit card solely for political donations.
- 53% of people surveyed have received suspicious follow-up requests after making a donation via their credit card.
- Only 28% of respondents have not suspected a credit card donation request was a scam.
“It’s important that consumers are actively willing to report potential election donation scams to their credit card companies,” said Bobbi Rebell, CFP® and consumer finance expert at CardRates.com. “The sooner credit card companies are aware of election scams going around, the better, so their teams can be on the lookout for fraud.”
The study shows the need for more awareness surrounding election donation scams and how scams affect consumer spending habits for political causes and candidate donations. CardRates.com educates consumers on credit cards and how to make sound financial decisions with your credit card, including what to do if you have been financially impacted by an election donation scam. To learn more, check out CardRates.com’s resources and actionable advice.
