Credit card payments over the phone can lead to fraud and identity theft, but cardholders can take precautions such as initiating the call, keeping detailed records, and avoiding giving out information to anyone who calls back. If fraud is suspected, contact the credit card company, bank, and government agencies for assistance.
In today’s advanced society, making a credit card payment over the phone is quite a common practice. Still, there is a chance that the cardholder could be a victim of credit card fraud and identity theft. Fortunately, there are precautions that the cardholder can take to increase credit card security. Examples include always initiating the phone call during which the payment will be made and keeping detailed records of the transaction.
There are two different types of credit card phone 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 puts the cardholder at some level of risk for credit card fraud and identity theft. This is because both transactions expose personally identifiable and private financial information. Such information includes the cardholder’s name, address, telephone number, bank account information, and credit card number and security code.
Whether you want to make a credit card payment over the phone or use your credit card to pay for a purchase over the phone, the cardholder can start protecting their personal information by initiating the phone call. If the credit card company or provider calls with a proposal that the cardholder is interested in, they must call back before moving forward with a payment. This applies regardless of who is calling, but it is especially safe to call back an organization, provider, or charity the cardholder is unfamiliar with.
The cardholder should also avoid giving out their credit card or bank account information to anyone who calls them back after the initial phone call. While the actual credit card company or provider may call back to confirm or obtain missing information, it is safer for the cardholder to call back. You can explain to the caller why he wants to call back, and then ask for the phone number and extension. Often people attempting to commit credit card fraud will call the cardholder after the initial call and ask them to repeat financial and personal information. Even if it is an honest situation, the cardholder can protect himself by calling the person he originally called.
Even after initiating the phone call, there are additional steps the credit card holder can take to prevent credit card fraud and identity theft while making a credit card payment over the phone. For example, the cardholder must record the date and time of the transaction. He should request the name and employee identification number of the person taking your 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 clerk to reuse the extension number to make sure the number is working and that the person answering is the one to answer.
The cardholder may take further steps if, after taking all possible precautionary measures, the cardholder finds or even suspects that he or she has been a victim of credit card fraud or identity theft. He can contact your credit card company and report the stolen number, as well as contact your bank or other financial institution and stop all payments, withdrawals, and other transactions. In addition, the cardholder can contact the government agency in their area that can help with issues related to fraud and identity theft. These agencies vary by region. For example, in the United States, citizens can contact branches of the Federal Trade Commission or the United States Department of Justice.
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