Top Five Credit Card Scams #2: Credit Card Information Request Via Phone
The basic phone scam goes something like this: You get a phone call from someone claiming to be from Visa or MasterCard. They tell you there has been an unauthorized purchase on your card and ask if you are the one who purchased such an item. When you tell them it was not your purchase, they claim to be starting a fraud investigation. They then ask you to confirm that you have the credit card in your possession by asking you certain details about your card. The most recent scammers ask you for the three digit code on the back of the card, known by Visa as the CVV2 and by MasterCard as the CVC2.
The person on the phone with you is not a fraud specialist from Visa or MasterCard. But, this person calling already knows something about you. They may have your billing address, the last four digits of your credit card from a receipt, or even the entire credit card number. So they may also ask for an expiration date or a billing zip code.
While this scam usually occurs over the phone, there are also Internet versions, so beware. Never give someone information about your credit card statement or billing history over the phone or the Internet. Bottom line: a credit card company would not need to ask for this; it would already have it. Hang up and report the call to the credit card fraud reporting department. For a sample phone call from one of these scammers, visit Urban Legends.