Posted by NC_Notary on 9/14/05 9:59am
Msg #65125

Be careful of new credit card scam.....

There are people calling who may have access to your credit card # and are trying to obtain your pin# on back of your card. They say they are from Mastercard or Visa and start out by saying they have been monitoring your card and believe a fraudulant purchase has been made. They continue in what seems to be a ligitimate conversation and will credit your account and casually ask for the pin number on back of your card to make sure you still have the card in your possesion. As far as I know they do not ask for your credit card number or SSN so it is easy to be caught of guard by this. Please spread the word....

Reply by Bonnie_FL on 9/14/05 10:05am
Msg #65128

Another way to find out if they are real is to ask WHO is making the purchase and using your card. If you don't recognize the purchase, you know it's not you using the card and then do not give out any information.

But the real Visa/Mastercard would never ask for a pin. Your mothers maiden name will identify your info for them and a legitimate person may ask for that but I will give no more.

We have actually had our number, not our card, used and Discover called to verify the purchase and we said NO, we did not do it, so they stopped the charge. Also, we had a large legitimate purchase and Mastercard would not let it go through until they contacted us to verify it was real. So I feel good about those calls.

Reply by PAW_Fl on 9/14/05 11:04am
Msg #65154

You mean the "CCV" that is on the back of the card? The PIN is a number that the owner can establish and is NOT printed on the card.

For your protection, the 3-digit CCV (Credit Card Verification) number on your credit card is required for processing. All credit card cards now being released have a three digit Credit Card Verification number issued on them.

The 3-digit CCV is usually printed on the signature panel on the back of the card immediately after the card number or partial card number. For simplicity, the CCV is always the last 3 digits shown on the signature panel. This number is used to validate and verify credit card purchases. Unless you are making a purchase, you do not need to provide the CCV to anyone. Not even MasterCard, Visa, AmEx, ext.

NEVER DIVULGE YOUR PIN, which is primarily used for cash advances.

Reply by corona71 on 9/14/05 12:34pm
Msg #65165

off subject, but about bad credit card companies

Since we are on the subject of credit cards, I wanted to display my frustration with BofA visas. We have had this particular visa for quite a while with a decent limit. Anyways, we purchase quite a bit and pay it off every month, so we are good customers. Well, since we purchase quite a bit, BofA every once in a while decides to put a hold on our credit card because they think it has been stolen. This has happened to us three times, and when we find out is when we are somewhere such as dinner or the grocery store, and it has been denied. We have contacted BofA each time this has happened, and quite frankly, they don't care. Each time we have used common sense on them and asked, instead of putting a hold on the card and making us look like idiots, why don't you call us and ask if it is our purchase?
To make a long story short, I am getting the word out the BofA has no customer service, and we are switching to another credit card company.

Reply by AnnaCA on 9/14/05 12:56pm
Msg #65168

Definition of "Good Customer"

[...we purchase quite a bit and pay it off every month, so we are good customers. ]

This is also off topic, but I had to respond to this part of your post. Since credit card companies make money on the interest and fees charged on revolving credit balances, late payments, and annual fees, I'm guessing they probably don't consider someone who pays off their balance every month (depriving them of interest charges) as good a customer as someone who maintains a revolving credit balance. The amount you purchase on the card is irrelvant to your status as a good customer if they're not making money off of you.

-Anna

Reply by corona71 on 9/14/05 1:02pm
Msg #65170

Re: Definition of "Good Customer"

I agree they don't make any interest off of us, but they do get money from the people we buy things from. My problem was you don't put a hold on the credit card without first placing a call. I could understand once, but three times without a phone call. Are only recourse is word of mouth, and to not use their credit card company again.

Reply by AnnaCA on 9/14/05 1:26pm
Msg #65174

Re: Definition of "Good Customer"

That's true about making money off of the merchants--didn't think of that. I agree that they shouldn't put a hold on the card without a call, embarrassing you when it's declined. I've heard from other former BofA customers that dealing with any aspect of their banking system is a big PITA. How about Amex? At least for the annual fee you get mileage for your expenditures, no interest since you have to pay it off every month, and they'll take your side over the merchant's in a dispute and credit the charges while they investigate? We use ours for everything, even groceries, and get at least 1-2 free domestic flights out of it per year.

-Anna

Reply by corona71 on 9/14/05 1:35pm
Msg #65177

Re: Definition of "Good Customer"

I have called Citibank, and we are switching over to them, because of their 5% cashbacks on certain items. Yes, it makes you look very incompetent when someone tells you your credit card has been declined, and no reason for it.

Reply by Iris_WA on 9/14/05 2:39pm
Msg #65189

Equally O/T

Be careful of Citibank cards ... their newer "fine print" of any of their holdings says something to the effect "If you are late in your payment on ANY Citibank credit card, your interest rate will immediately be raised to the" highest.

Citibank owns many subsidiaries, and unless you note the fine print, you may not know it. Sears, for instance, and Conoco-Phillips-Union 76.

Reply by MelissaCT on 9/14/05 2:48pm
Msg #65192

Re: Equally O/T

A lot of CC companies are going as far as to say that if you pay ANYBODY late, they can/ will jack up your rate on their card. AND, don't forget if you do carry a balance that the minimum payments are set to increase very shortly (Oct 1???, I can't remember when that goes in effect) -- may even double in an attempt to get Americans to get out of debt more quickly...

Reply by Iris_WA on 9/14/05 2:50pm
Msg #65194

Minimum payments going up???

GAGGGGGGGGGGG -- please, someone, say it isn't so!

Reply by BetsyMI on 9/14/05 2:50pm
Msg #65195

Re: Definition of "Good Customer"

Regarding the post: "Since credit card companies make money on the interest and fees charged on revolving credit balances, late payments, and annual fees, I'm guessing they probably don't consider someone who pays off their balance every month (depriving them of interest charges) as good a customer as someone who maintains a revolving credit balance. The amount you purchase on the card is irrelvant to your status as a good customer if they're not making money off of you."

I totally disagree with you. I pay off my Visa bill completely every month. They have never made a cent off of me. I have the highest credit rating possible and am constantly inundated with other "Gold" or "Platinum" offers from other credit card companies. I only have the one Visa.

Reply by AnnaCA on 9/14/05 2:59pm
Msg #65197

Re: Definition of "Good Customer"

[I totally disagree with you. I pay off my Visa bill completely every month. They have never made a cent off of me. I have the highest credit rating possible and am constantly inundated with other "Gold" or "Platinum" offers from other credit card companies. I only have the one Visa.]

My statement was a bit tongue-in-check. "Good customer," from the credit card's money-making standpoint, is a subjective term. I'll bet the other offers are because you have a good credit rating, not because you pay in full at the end of each month. When I carried credit card balances but paid on time every month, I too was inundated with gold and platinum credit card offers.

-Anna

Reply by BetsyMI on 9/14/05 3:02pm
Msg #65199

Re: Definition of "Good Customer"

Thanks for your reply Anna. Just want to add that when I tried to switch to a different credit card, my current credit card company "sweetened the pot" to convince me to stay! And I did! Why would they want me to continue with them if they never make any money on me?

Reply by corona71 on 9/14/05 3:01pm
Msg #65198

Re: Definition of "Good Customer"

I agree with you, even though they don't make interest off of us, My husband and I are "good" customers. Another word that better suits is responsible customers. Ours is a Visa Platinum, and in the original post, for us not to get a call and instead put a hold on our credit card is unnacceptable!

Reply by NY_TaxLady on 9/14/05 1:14pm
Msg #65171

I did get a call about one of my cards asking for verification of some information. I asked for their number so I could call them right back. They said they were from the call bank and I couldn't. I said thank you very much. Hung up and called my card Co.