Telephone Credit Card Fraud: Seven Telltale Red Flags

phone-499991_640Credit card scams are some of the most common scams going on not just in the UK but also in the US today. In fact, more than 10% of Americans have fallen victim to credit card scams, according to some recent statistics on the Statistics Brain website. Credit card scams occur in various forms. This happens when scammers get on the phone and try to trick unsuspecting victims into giving out their personal credit card information.

Anyone who owns a credit card is advised to heed and be aware of these 7 telltale red flags to prevent being a victim of telephone credit card fraud:

  1. Caller Claims a False Win

One of the biggest credit card telephone scams is the one in which the caller tells the person on the other end that he or she has won a vacation, a prize or check. The catch to this scam is that the person has to provide his or her credit card number to “collect the prize.” Consumers should never fall for this trick.

  1. Caller Claims a False “Security” Concern

A false security concern is another way that scammers weasel their way into the lives of unsuspecting consumers. These persons pretend to be banks. They tell the cardholders that there has been suspicious activity on one of their cards. Many times, the cardholders panic and give out their personal information. Such people should consider their recent card usage and refuse to be sucked into this trap.

  1. Caller Asks for Donation to Unknown Organization

Some scammers will call random people on a call list and ask for a donation to an organization of which the call receiver has never heard. The person will ask for credit card information for such a donation. Consumers are better off finding their own organizations to which they can donate.

  1. Caller Fails to Verify the Account

One serious telltale sign of credit card scamming is when the organization calls and does not verify the credit card account. The “customer service representative” should go through a verification process that includes address information, phone number, and security questions to which no one but the account holder will have the answer.

  1. Caller Is Evasive About Affiliation

Another sign of a scam is the caller’s evasiveness about who he or she is. Scammers usually will provide sketchy information about their affiliations.

  1. Caller Does Not Have a Valid Phone Number

Scammers may call from blocked numbers or phone numbers that lead to VoIP programs in the reverse number lookup tools. An invalid phone number is a sure sign of risky business.

  1. Caller Asks for Pin or Security Info Over the Phone

No one should ever ask for a cardholder’s four-digit pin number over the phone. The consumer should always assume that any such request is a malicious one.

These telltale signs are only a few signs that one may encounter. Consumers must be careful to protect themselves in all circumstances.

Always check your bank’s credit card page for the type of security that is provided as part of your service. This will let you know exactly what the procedure is when it comes to dealing with any credit card issues over for the phone etc. Educating yourself on these measures can certainly help prevent you being caught out from one of these scams.

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