Credit Card Phone Scam

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Don't fall for scammers' tricks 

Crooks use a variety of tactics to get access to credit card information so they can commit card fraud. One of these tricks is to convince you to give up your card or other personal information.

Thieves don't just call up and ask for your credit information. That would be too easy and you probably wouldn't fall for it. Instead, they make up a fake situation such as your card being compromised, suspicious transactions occurring on your card or even that they need to process a refund on your card.

These calls can be quite convincing and the scammer may even have details such as your name, address and/or last four digits of your card (note that with card masking requirements this card information is all scammers can obtain).

How Credit Card Thieves Try to Scam You Over the Phone

You receive a phone call from someone who says they're from your bank or credit card company. The caller asks you to confirm or give up some personal information, e.g. name, your credit card number and Card Security Verification (CSV) Code. After the call ends, the caller uses the information you gave to make charges on your card.

How to Avoid a Credit Card Telephone Scam

Crooks are constantly revising their schemes. Each time consumer’s catch on to one scam, another variation or an entirely new scam pops up. So, it's important that you follow some guidelines to avoid being scammed over the phone no matter what tactic the scammer uses.

Don't give out any information on calls you didn't initiate, no matter how legitimate the call may seem. If you think there's a possibility that it's your real credit card issuer, ask if you can return their call. Contact them using a publicly listed phone number obtained off their website or from your card (do not use a number provided to you throughout the call, or from an unexpected email or SMS text message).
Only trust calls that you initiate.

What to Do If You're Scammed

It's easy to fall prey to a credit card telephone scam. If you mistakenly give out your personal information, call your bank or credit card issuer immediately. They can cancel your old credit card account and give you a credit card with a new number to prevent fraudulent charges from being made on your account.

Check your account regularly online, read your credit card billing statement thoroughly, and report any suspicious activity to your credit card issuer right away.


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