Menu Close

Credit Card Scam

Check the end of the post for the Exponential Distinction to avoid ALL scams like this. This one is pretty slick since they provide YOU with  all the information, except the one piece they  want. Note, the callers do not ask for your card  number; they already have it… This information is worth  reading. By understanding how the VISA  & Master Card Telephone Credit Card  Scam  works, you’ll be better prepared to protect  yourself.

One of our employees was called on  Wednesday from ‘VISA’, and I was called on Thursday from  ‘Master Card’.. The scam works like this: Caller: ‘This is  (name), and I’m calling from the Security and Fraud  Department at VISA. My Badge number is 12460. You r 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 of bank). Did you purchase an  Anti-Telemarketing Device for $497.99 from a Marketing  company based in ?’

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  Number. 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, ‘I need 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 part of your card number, the next 3 are the  security Numbers that verify you are the possessor of the  card. These are the numbers you sometimes use to make  Internet purchases to prove you have the card. The caller  will  ask you to read the 3 numbers to him.  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 one of our friends was called on Wednesday, they  called back within 20 minutes to ask a question.. Are they glad they did! The REAL VISA Security Department told them it was a scam and in the last 15 minutes a new purchase of  $497.99 was charged to their card.

Long story – short –  they made a real fraud report and closed the VISA account.  VISA is reissuing them a new number.  What  the scammers want 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 directly  for verification of their conversation. The real VISA told  them 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 more difficult to  actually file a fraud report.

What makes this more  remarkable is that on Thursday, my friends got a call from a ‘Jason  Richardson of Master Card’ with a word-for-word repeat of  the VISA scam. This time they didn’t let him finish. They hung up!  They filed a police report, as instructed by VISA. The police  said they are taking several of these reports daily! They  also urged us to tell everybody we know that this scam is  happening.

Please  pass this on to all your family, friends and neighbours. By  informing each other, we protect each  other.

New  Credit Card Scam
Snopes.Com says this is  true.

Exponential Distinction to prevent this sort of credit card scam:

Don’t give out any new information – track the caller’s phone number (if possible), get their employee ID and tell them you’ll call them back get their phone number (to give to the police). Then call the credit card company using the number on your statement instead of the number they gave you. That way you know who YOU are calling.

We do this EVERY TIME our credit card company calls us – WITHOUT EXCEPTION. They are used to it by now.

This is the kind of distinction that saves a lot of disruption and annoyance. It’s called having an Exponential Mindset. If you want to start to think like this, check out our programs at if you want an introduction, you can test drive

Leave a Reply

Your email address will not be published. Required fields are marked *