Credit card fraud is a global concern and is one of the fastest growing forms of identity theft. Did you know that every 2 seconds a person in the U.S. is victimized by credit card fraud? This statistic is alarming; therefore, you need to find ways to avoid falling prey to financial criminals. Giving out your credit card number over the phone is one of the biggest issues surrounding credit card fraud and you need to avoid being the next victim.
Giving your credit card number over the phone should never feel like second nature. Taking some precautions before you give the number may save you anguish and money down the road.
Below Are Some Key Tips to Avoid Credit Card Fraud for Consideration, but Not Limited to:
Find a Private Location- If you are calling a merchant to purchase merchandise over the phone, find a location that is private so that onlookers and others can’t hear your number. You never know who may be listening and taking note of your number.
Be Wary of Unsolicited Phone Calls- If you receive a phone call and the person on the other end is asking for your credit card number, you need to hang up and call the organization back and ask for verification. Regardless of how legitimate the phone call seems you should take every precautionary measure to verify who the caller is and why they need your credit card number.
Always Review Credit Card Statements- When you get your paper/online credit card statement, make sure you review all charges. Once someone has access to your number, he/she will most likely begin to make purchases and you need to be aware of any suspicious activity on your account. It is also recommended you routinely check your account (not just at the end of the month) for any suspicious activity/charges.
Confirm all Purchases Verbally- If you contact an organization to make a charge, make sure you have the person you are speaking with confirm the exact charge going on your credit card.
Respond to Unauthorized Charges- If you notice a suspicious charge on your account, you should immediately call your bank and inquire so you won’t be held responsible for that charge.
Credit card fraud is problematic for not just the victim, but also banks, merchants, insurance companies, and the entire economy. Unfortunately, credit card fraud is here to stay, but you can take action to minimize the likelihood it happens to you. Protect yourself and your identity. If you have any questions or concerns regarding credit card fraud and/or identity theft, contact our offices at Burkett & Associates and we will assist you.