Making credit card payments over the phone can lead to credit card fraud and identity theft. To increase security, the cardholder should initiate the call, avoid giving out information after the initial call, and keep detailed records. If fraud is suspected, the cardholder should contact their credit card company, bank, and government agency for help.
In today’s advanced society, making a credit card payment over the phone is a fairly common practice. However, there is a possibility that the cardholder could be a victim of credit card fraud and identity theft. Fortunately, there are precautions the cardholder can take to increase credit card security. Examples include always initiating the phone call during which payment is due and keeping detailed records of the transaction.
There are two different types of credit card telephone payments. The first is to make a credit card payment over the phone to the cardholder’s credit company, and the second is to make a purchase over the phone using the cardholder’s credit card. Each type of payment exposes the cardholder to a certain level of risk of credit card fraud and identity theft. This is because both transactions expose personally identifiable and private financial information. This information includes the cardholder’s name, address, telephone number, bank account information, credit card number and security code.
Whether you want to make a credit card payment over the phone or use the credit card payment for a purchase over the phone, the cardholder can start safeguarding his personal information by initiating the phone call himself. If the credit card company or a merchant calls with an offer that the cardholder is interested in, they should call back before proceeding with a payment. This applies regardless of who is calling, but it is especially safer to call back an organisation, supplier or charity than the cardholder the cardholder is not familiar with.
The cardholder should also avoid giving his credit card or bank account details to callers after the initial phone call. While it’s possible for the actual credit card company or merchant to call to confirm or obtain missing information, it’s safer for the cardholder to call back. He can explain to the caller why he wants to call back, then ask for the caller’s phone number and extension. Often, people trying to commit credit card fraud call the cardholder after the initial call and ask him to repeat financial and personal information. Even if it’s an honest situation, the cardholder can protect himself by calling back the original caller.
Even after initiating the phone call, there are additional steps the credit card holder can take to avoid credit card fraud and identity theft while making a credit card payment over the phone. For example, the holder should record the date and time of the transaction. He should ask for the name and employee identification number of the person receiving his information, as well as the employee’s extension number. He may also request the transaction number and information on any credit card payment receipts he will receive. For added assurance, the cardholder can even call the employee back using the extension number to ensure that the number works and that the person answering is the one who should be answering.
There are further steps that the cardholder can take if, after taking all possible precautionary measures, they discover or even suspect that they have been the victim of credit card fraud or identity theft. He can contact his credit card company and report the stolen number, as well as contact his bank or other financial institution and stop all payments, withdrawals and other transactions. In addition, the cardholder can contact the government agency in his area who can help with matters relating to fraud and identity theft. These agencies vary by region. For example, in America, citizens can contact branches of the Federal Trade Commission or the US Department of Justice.
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