Although this might seem like a lot, it is pretty standard and even though there is a charge you could still save a substantial amount of money on interest fees in the long run.If you're not sure, take a look at our free Balance Transfer Calculator too see if this card will work for your individual needs.
Both VISA and Master Card told me that this scam is currently being worked throughout the Midwest, with some variance as to the product or amount, and if you are called, just hang up.
Although safeguards have been enacted to catch most of these types of fraud, they’re often defeated by a combination of lax security and clever crooks who know how to work around them.
One of the those safeguards is the addition of three-digit security codes (known as CVC2 or CVV2 codes) to every Master Card and Visa card, codes which are indent-printed in the signature panels on the backs of the cards but are not encoded in the magnetic stripes and do not print on sales receipts.
5) Is the criminal activity described in the warning something the average person might fall victim to?
The scheme outlined in the message quoted above might be categorized as a “social engineering” scam technique which preys upon people’s unquestioning acceptance of authority and willingness to cooperate in order to extract from them sensitive information (such as computer passwords or credit card numbers).