(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 45 comments

  • On Wednesday, January 14, 2015, Donna wrote:

    570-929-6454- credit card services- Does anyone know who or where they are? Somebody needs to hunt these people down.

  • On Friday, January 09, 2015, LG wrote:

    I fget these calls 2 and 32 times a day why can't somthing
    be done to phone company who gave them the number. how can yu get a call from a number not in use

  • On Tuesday, December 30, 2014, John E. Buckingham wrote:

    I have received, and filed more than 30 complaints with the Do Not Call Registry in regard to unwanted "robo-calls" from Ann, at this Credit Card Services, or now just Card Services. I hope they get a HUGE fine, and are eventually caught, and sent to prison for a LONG time. I'm beyond tired of these annoying early-morning calls!

  • On Tuesday, December 23, 2014, Connie wrote:

    I just received a call from my own private number showing my name on the caller ID. When I answered because it was confusing to get a call like this (from myself?) I was told because I've been current with all my payments on my major credits cards the could lower my interest rates but only if I owed $4000 total because it's the law that if I have excellent credit I shouldn't be paying high interest rates. I told this person he was not getting my credit card numbers and he insisted he didn't need them because he already had all my info from the 3 major credit co. but as the conversation went on he asked for my credit card number and at that point I told him no thank you and hung up.... weird huh?

  • On Sunday, December 21, 2014, Frustrated wrote:

    I've received several of these calls over the past six months. I don't even own a credit card, but the aggressive caller on the other side always insists I do. I always ask for him to provide the company name, he claims "Visa/Mastercard". I ask him to provide me with my name and he just keeps calling me ma'am, "I know you have a card" at which point one of us finally hangs up. I've also been getting calls about duct cleaning (live in an apartment and have told them this several times) and "Windows" tech support. They all sound like the same group of people to me...

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