(46 votes)

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, as covered in the news.

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.

There are 35 comments

  • On Monday, October 27, 2014, Kyle S wrote:

    Here's 2 numbers that call regularly.
    I told them repeatedly not to call and they still do.

  • On Thursday, October 23, 2014, the Phone Warror wrote:

    press one and just be flat out rude to them with a clear and loud "F--- YOU!" and if they stay on the line just be as rude as you want then do not respect you so you do not need to respect them.

  • On Tuesday, October 21, 2014, Iggy wrote:

    These evil monsters must be stopped. I have tried everything--pushing the number to be taken off the list (oh, maybe 20 times); putting them on speaker phone for ten minutes while I putter around, muttering that I am looking for my card number and will get it in a second; getting the customer service agent online and then blaring Black Sabbath's "War Pigs"; telling them I have cancer and it is painful for me to get up and answer the telephone; asking the agent whether she feels good about herself working for a company that makes its money by fraudulent and illegal methods; and of course, threatening to report them to the FTC and State Attorney Generals's Office for repeated violations of the telemarketers' law. Nothing works. I probably get 15-20 calls a month from these criminals. Because that's what they are--criminals. I would love to strangle that woman who made the breathless recording you hear when you pick up.

    So does anyone have a way of hacking their real number and finding their real address? They are usually native-born American voices--this is no out-of-India operation. Would someone who has gone through and purchased their "service" be willing to share any clues as to where these rogues might be based? A real phone number? Address? PO Box? Email? Website? There are some very smart hackers who would probably love to take this on pro bono.

  • On Monday, October 20, 2014, J. Resac wrote:

    I had a call yesterday on my cell number, I asked the guy to remove me from their calling list. He replied NO, he was sarcastic the whole time. I told him never to call back he goes I will if I want to. He creeped me out. How do we get these calls when we are on the do not call list...

  • On Saturday, October 11, 2014, Diane Santucci wrote:

    The calls from Credit Card Services, Scammers for sure, is now coming in with my name and phone number.

    To whom shall I report this and can anything be done to stop the calls?

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