posted 01-13-2005 01:28 AM         

My husband was called on Wednesday from "VISA", and I was called on Thursday from "MasterCard".
The scam works like this:

Person calling says, "this is <name>, and I'm calling from the Security and Fraud Department at
VISA. My Badge number is 12460. Your card has been flagged for an unusual purchase pattern, and
I'm calling to verify. This would be on your VISA card which was issued by <name> bank. Did you
purchase an Anti-Telemarketing Device for $497.99 from a marketing company based in Arizona?"

When you say "No", the caller continues with, "Then we will be issuing a credit to your account.
This is a company we have been watching and the charges range from $297 to $497, just under the
$500 purchase pattern that flags most cards. Before your next statement, the credit will be sent
to (gives you your address), is that correct?" You say "yes". The caller continues... "I will be
starting a Fraud investigation. If you have any questions, you should call the 1-800 number
listed on the back of your card (1-800-VISA) and ask for Security. You will need to refer to
this Control #"

The caller then gives you a 6 digit number. "Do you need me to read it again?"

Here's the IMPORTANT part on how the scam works. The caller then says, he needs "to verify you
are in possession of your card". He'll ask you to "turn your card over and look for some
numbers. There are 7 numbers; the first 4 are your card number, the next 3 are the 'Security
Numbers' that verify you are in possession of the card. These are the numbers you use to make
Internet purchases to prove you have the card. Read me the 3 numbers". After you tell the caller
the 3 numbers, he'll say ,"That is correct. I just needed to verify that the card has not been
lost or stolen, and that you still have your card. Do you have any other questions?"

After you say No, the caller then thanks you and states, "Don't hesitate to call back if you
do", and hangs up.

You actually say very little, and they never ask for or tell you the card number. But after we
were called on Wednesday, we called back within 20 minutes to ask a question. Are we glad we
did! The REAL VISA Security Department told us it was a scam and in the last 15 minutes a new
purchase of $497.99 was charged on our card. Long story made short, we made a real fraud report
and closed the VISA card, and they are reissuing us a new number.

What the scammers wants is the 3-digit PIN number on the back of the card. Don't give it to
them. Instead, tell them you'll call VISA or Master card direct.

The real VISA told us that they will never ask for anything on the card as they already know the
information since they issued the card! If you give the scammers your 3 Digit PIN Number, you
think you're receiving a credit. However, by the time you get your statement, you'll see charges
for purchases you didn't make, and by then it's almost too late and/or harder to actually file a
fraud report.

What makes this more remarkable is that on Thursday, I got a call from a "Jason Richardson of
MasterCard" with a word-for-word repeat of the VISA scam. This time I didn't let him finish. I
hung up!

posted 01-13-2005 06:57 AM         

Our Credit Union issues [one] low-rate VISA which we both feel comfortable in having/using/paying off every month from here on out! We've been NEEDING to do this for a long time, and with my retirement cresting the horizon--that time is now!

Also, some of these companies are not very user friendly--one of the 3 we're paying off would not even extend our due-date by 1 day to avoid a late-charge due to this 3-day wait to do payoffs! Will be nice to rid ourselves of these companies forever!!

posted 01-13-2005 09:26 AM         

AC, that's a great idea. Jim