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Credit Card Lower Rates

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How the scam works:

There are two variations of this scam:

Scenario 1. Did you ever pick up a phone call and the first thing you hear is an automated message saying: “To lower your credit card rates, press 1”?

If you haven't, chances are you will soon. The automated call scam is quickly spreading all over the world, as victims are lured into pressing keys on their phone and allowing (giving permission by confirming) scammers to register them for shady premium text campaigns or even to give them their credit card numbers.

Scenario 2 (with video). This second variation of the scam involves unsolicited phone calls from fraudsters offering to apply for a low-interest rate credit card on a person's behalf, for a large fee. The criminal will request personal and financial information, including a person's existing credit card number.

Watch the video below to see in action the Credit Card Lower Rate scam.

Credit Card Lower Rate Scam in the News Video

How to avoid:

Just hang up the call if it is an automated message, regardless of what it is about: lower rates, free trip, bonus loyalty points, etc. For the second variation of the scam, consumers should never pay a fee to a third party for this service. Most financial institutions offer low-interest rate credit cards and consumers can apply for these cards on their own through the financial institution directly. You can also report the scam on this page: Federal Trade Commission Report.

There are 58 comments

  • On Thursday, June 25, 2015, Joe Wendling wrote:

    If you have comcast you can put all their numbers on a program that they have and they will intercept them for you. and you can check a box that will stop all anonymous calls. I use to get 8 or 9 calls a day now I get maybe 1 every other day and I immediately put them on my list.

  • On Tuesday, June 16, 2015, Janet Collins wrote:

    Just got a call on my cell phone from 407-947-1971, Orlando, FL. Recorded message "...press 9 to reduce your credit card interest." Guy with accent comes on and rattles on about reducing my interest rates. I interrupted and asked which card company was he calling from. He said "we work with all the major credit card companies, VISA, Mastercard.." In again interrupted and said, "so you are not from one of my current companies" He repeated his spiel. I said I am not interested in dealing with anyone except my direct cards, so thank you for calling. He again tried to tell me more, so I said good-bye and hung up. Tried calling the number---"We're sorry, your call cannot be completed as dialed."
    SCAMMERS Trying to get those naive people.

  • On Tuesday, June 16, 2015, Ryan wrote:

    Just got a call from (728)725-8139. Automated voice telling me I could lower my credit card interest rate, I don't own a credit card. I pressed nine to fuck with em. Guy answers and says his speil... I say, "where's my free money?!!" He laughs and says, "that's for us, not you!" And hangs up. I call the number back and it says it's not a real number.

  • On Wednesday, June 10, 2015, Sick and Tired wrote:

    Anonymous....please stop these freaks. They are using VOIP systems, please shut them down....please.

  • On Tuesday, May 26, 2015, Mandi wrote:

    I got a call today from MY OWN PHONE NUMBER YEP, and it was an automated recording (a female american) saying that I had the option to lower my interest rate now and to press 9. Well coincidently I got a letter from my credit card carrier that said I would qualify for a lower interest rate. So I hit 9 thinking the two were connected. When the indian man answered my heart dropped. RED FLAG NUMBER 1~~ Then he asks how I am doing I say fine, and you? He is doing well... wonderful right lol. So then he starts saying we can lower you interest rates and so being the bright individual I am (even though I only have 1 credit card) I asked "what credit card are you calling about". He replies "oh visa, mastercard, ect. RED FLAG NUMBER 2~~ I said "oh you must be a third party because you would know that information if you were truly someone calling on behalf of MY BANK. He tried exclaiming "NO I AM NOT A THIRD PARTY, YADA YADA. At that point the gig was up! I had caught on to his ridiculous scam. And I told him "no im not giving you my credit card info" what was interesting is what happened next........ the call turned in a swift hurry to something you would never expect to hear from one of these scammers. His very next words literally left me speechless. He goes "so do you have a pink or black p**sy" WHAT?!?!??!!? What in the hell did this guy just say to me? I thought that clearly I heard that wrong and I said Sir did you just say what I think you said"? And he plays dumb "What did I say" and I said "I don't think I need to repeat it but did you just ask if i had a pink or black P**SY??? He said "yes" as if it were not the most disgusting thing I have ever heard. And I said are you serious???? A few words later the convo was over. But I am still in shock as to how this went from a scam to a prank phone call in a matter of seconds. Guess I was just too smart and caught onto his crap too fast. And the only verbage to retaliate with was this non sense. In the end I had a good laugh.... but this definitely concerns me for people who may not think to ask the right questions.

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