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To enhance your buying and selling experience, it’s our job as real estate professionals to provide you with as much valuable information as possible. It is essential that the buyer or seller be aware of all aspects of the real estate market before making a major decision. Whether it be through newsletters, checklists or news articles, we are here to make this process stress-free and rewarding. Please access our free reports today!
MAJOR HEADS UP. THIS IS A PRETTY SOPHISTICATED SCAM!
WARNING...New Credit Card Scam
Note, the callers do not ask for your card number; THEY already have it!
This information is worth reading. By understanding how the VISA & MasterCard Telephone Credit Card Scam works, you'll be better prepared to protect yourself.
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 of bank). Did you purchase an Anti-Telemarketing Device for $477.99 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 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 ca ll 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.
Long story made short - we made a real fraud report and closed the VISA account. VISA is reissuing us 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 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. By the time you get your statement however, 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, 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!
We 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 and friends. By informing each other, we protect each other.
Call Tom if you have any questions 214-213-1894
Tom Meyer Realtor & Mortgage Banker Understanding Credit & Credit Restoration
Retirement and Insurance for Realtors Exit Town Square Realty
www.TomMeyer.Biz
Mailto:Tom@TomMeyer.Biz
Call any time 214-213-1894
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Choices That Will Affect Your Loan
Mortgage term. Mortgages are generally available at 15-, 20-, or 30-year terms. The longer the term, the lower the monthly payment if the same amount is borrowed. However, you pay more interest overall if you borrow for a longer term.
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6 Creative Ways to Afford a Home
If your income and savings are making homebuying a challenge, consider these options.
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How Big a Mortgage Can I Afford?
Not only does owning a home give you a haven for yourself and your family, it makes great financial sense, too.
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Credit Fraud Identity Protection
Call the three national credit reporting organizations immediately to place a fraud alert on your name and Social Security number.
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5 Things to Understand About Homeowners Insurance
Understand actual cash value. If you choose not to replace your home when it’s destroyed, you’ll receive replacement cost, less depreciation. This is called actual cash value.
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10 Ways to Lower Your Homeowners Insurance Costs
Be sure you insure your house for the correct amount. Remember, you’re covering replacement cost, not market value.
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Budget Basics Work Sheet
The first step in getting yourself in financial shape to buy a home is to know what you make and what you spend now. List your income and expenses below.
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8 Ways to Improve Your Credit
Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for.
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8 Steps to Getting Your Finances in Order
1. Develop a family budget. Instead of budgeting what you’d like to spend, use receipts to create a budget for what you actually spent over the last six months. One advantage of this approach is that it factors in unexpected expenses, such as car repairs, illnesses, etc., as well as predictable costs such as rent.
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5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.
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10 Questions to Ask Your Lender
Be sure you find a loan that fits your needs with these comprehensive questions.
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10 Things a Lender Needs From You
Account numbers of all your credit cards and the amounts of any outstanding balances.
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