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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. 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.

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.

This article was brought to you by the Miracle Energy Shake


There are 18 comments

  • On Sunday, July 13, 2014, Michael wrote:

    "This is Heather from Card Services...blah, blah". Usually I just hang up because the "Press #" command to be removed doesn't do anything. Recently I started wasting as much of THEIR time as possible by pressing "1" to talk to a live person — who always has an East Indian accent. I start with confusion about what they want, then tell them that I've had a "minor stroke" and don't know what interest rate we are paying. When they continue to press for information I tell them my wife looks after our cards following "my stroke" but she's at the neighbours so I'll have to go get the cards out of her purse to see which ones we have. I put the phone down for a bit to waste more of their time. If they're still on the line I give them a fake library card or store credit card number — I either scramble the actual number or just make up some number.

    My record is keeping them on the phone for 18 minutes during which time I finished loading the dishwasher and let the dogs in and out. For some reason we don't seem to get as many of these calls as we used to...

  • On Wednesday, June 25, 2014, K Johnson wrote:

    They call us every day – multiple times, from different numbers (I wish it really was the "last and final notice".) One number they are now calling from is only a few numbers away from my home number and caller ID says it's my wife's employer (it is not - but they must have our incoming phone records to know that.) They've been calling for months – maybe even a year at this point. Once I answered and told them we were on the do not call list. They said they would remove us (did not). Once I called the number back and started yelling. On the other end of the phone the response was "so you are not interested in lowering you interest rates" - in a sarcastic tone. Then they hung up, so I called back screaming. Hung up again. I WISH I could get the personal phone numbers of the people on the other end.

  • On Wednesday, June 18, 2014, Tina wrote:

    I have gotten a bunch of calls from the scam, credit card services, using or spoofing, it would seem, the number 435-645-8529, which is super creepy, because that number used to belong to a family I know. The discontinued it years ago. So, somehow the scammers got that number out of our phone history, it would seem. How is that even possible? So, they called me, with this spoofed number, that I did recognize. I picked it up because the curiosity was killing me. I know that number is no longer used by the family that used to have it so that made it even more strange. This last time when they called and I answered is when I heard the robo-call pitch to get lower interest rates. So, on the caller ID there was this number I recognize and just city and state. Super creepy that they could get that number and use it to specifically target me. I can't find any record of that number being used to call anyone else when I search online. Again, super creepy!

  • On Monday, June 16, 2014, jean wrote:

    my caller ID showed up as a DEBORAH ALLEN and showed up as a local number in my city that is one digit off my phone number!! It was the same old lower your credit card interest call that comes often from CARD SERVICES. I called the number back and it was indeed the home number of the ALLENs and they have no idea how their number was spammed!!

  • On Friday, June 13, 2014, Juliet wrote:

    This to Wally. I got a call yesterday with my own house phone on the I.D. I picked up because I was curious. Then I heard, "Bank card services". I hung up immediately and decided to call AT&T because I thought I'd been hacked. After an hour of hemming and hawing he found where the call supposedly came from. He asked if I knew the company and I said "Yes but they wouldn't be calling me because I had just seen them not two hours before".Then he said he'd talk to his supervisor and call me back. About two hours later he called back and said it had been resolved. Huge relief that I won't have to change my phone number.

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