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Promises for lower credit card interest rates weren’t true

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When you’re having trouble paying your credit card bills, getting a lower interest rate to keep your balance in check could be a game changer. Unfortunately, companies that promise to get you those lower rates often end up leaving you deeper in debt.

Today, the FTC and Florida Attorney General announced a complaint against Orlando-based YF Solution for allegedly defrauding people by promising to substantially and permanently lower the interest rates on their credit cards. According to the complaint, callers from YF Solution often pretended to be connected with people’s credit card companies and told people that — for a fee — they could get them rates that would save them thousands of dollars in interest.

But after people paid, the company didn’t get them a lower rate. Instead, YF Solution opened up new credit cards with low introductory interest rates in people’s names — without their permission. People also had to pay YF Solution up to $4,995 for its services, and were also often left to pay undisclosed balance transfer fees that could total three to five percent of the total amount of money transferred to the new credit cards. As a result, people often ended up with more debt than when they started.

If you’re looking for a lower interest rate on your credit cards, here’s what you need to know:

  • It’s illegal for a company to charge you a fee before performing a debt relief service.
  • The best way to get a lower rate is to do it yourself for free. Call the customer service number on the back of your credit card and ask the company directly for a lower rate.

Report credit card interest rate schemes at

Scam Tags:  Debt & Credit Scams


Why did it take 5 years to stop this? Are they going to prison for theft and fraud, or are they going to pay 10 percent back and keep the rest.

The court’s order temporarily halts the Orlando-based operation, freezes its assets, and appoints a receiver over the businesses. In a joint complaint, the FTC and Florida Attorney General’s Office are seeking to permanently stop the conduct and secure money for consumer refunds.

5 years? This has been going on since the 90s. Originally it was 'Rachel' who called.

When I get a call like this today (and I get 1-5 a day) and I start to ask questions, they hang up on me.

I'm glad that I read this. I don't trust anybody anymore that says that they'd lower my Credit Card Account. I've had high Credit Card amounts before. And right now I don't. owe a penny on my
Credit Card, I use my ATM Bank Card. Where when I buy something
& use it my money is taken out of my checking account, right away.

This is whack-a-mole. This scammer and hundreds of others running the same con pop up as soon as they are shut down. As of this week, I'm still getting robocalls for reducing my credit card interest rate.

Calls offering interest rate reductions are still received on a regular basis -at least 1 a day .. they impersonate credit card issuers and servicers .. and there is apparently no way to identify who is calling, where they are, or how to report them to get them shutdown

I get lots of calls almost always from India claiming the same thing. They often say things like from Card Services, or Mastercard-Visa which is nonsense because they are to separate companies. They are trying to get your credit card number and information to go on a shopping spree or withdraw cash from your account.

These people hound me all the time. If you block one number they call you on another. Has been going on for years

I got a similar call about this. I got to speak to a representative and I told them, I don't have any credit or debit cards and they kept ragging on like they were reading a script. I hung up and I still receive calls about it. Now, the moment I heard about it I hang up.

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