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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 68 comments

  • On Thursday, August 13, 2015, Kelsey wrote:

    Just received a call from MY PHONE number.. with an automatic message to press 9 to do something with my credit cards. Lower the rates or something. I then got connected to a man. I told him I wanted to be removed from their call list. He told me he could only do that if I burped. And proceeded to burp over and over again. I asked to speak to his supervisor. he said he could only do that if I burped. I finally hung up. I hope they don't call again. I am getting annoyed. These people are ridiculous and RUDE!

  • On Monday, August 10, 2015, pree wrote:

    I got a call today and the call display had my own number on it. So I played along and let her say her piece about lowering my inters rate and I said I have on question she said sure and I proceeded to say "why the f*** are you using my number to call me you filthy piece of Indian S***?" she hung up on me :)

  • On Monday, August 03, 2015, *@hotmail.com wrote:

    I too just got this call and asked for their number to call them back and got the fake Visa # -- do you think the number in the Phillipines really is fake they sounded legit and were apparently working on getting it fixed. Maybe this is a scam too. The idiot on the first call had the nerve to tell me I was wasting his time because after asking lots of questions I then said I wanted to be place on the do not call list. Then he started yelling and not listening- I hung up. Now I am worried he will really be able to get some of my info another way and target me.

  • On Friday, July 31, 2015, Nancy wrote:

    I just got a call and decided to "play" along as well. When it got to the point I wouldn't give the Indian guy my personal info he started swearing, and told me I wasted his 3 minutes. When that didn't work he started talking sexual and saying what he would like to do to me. I terminated the call. I don't know how these losers keep getting phone numbers when you are on the "Do not call List". Total Scam.

  • On Monday, July 27, 2015, Richard Cranium wrote:

    One dummy have me his number to call back with my info. Note I mess with them everytime they call. 800-847-2911 if fake Visa.

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