Avoid Credit Card Interest Rate Reduction Scams

The FTC is mailing hundreds of refund checks to consumers duped by a debt relief services company that ran an extensive credit card interest rate reduction scam.

The company, one of many shut down by the FTC, used illegal robocalls to pitch reduced credit card interest rates, and promised thousands of dollars in savings and a faster route out of debt, to boot. The consumer had to pay a fee in advance. 

The irony of this type of debt relief scam? Consumers could have called the customer service number on the back of their credit card, and with a little patience and persistence, had their interest rates lowered for free.

Protect yourself:

  • Hang up on unsolicited pre-recorded sales calls. The best way to deal with a robocall is to hang up. If your phone number is registered on the National Do Not Call Registry, you shouldn’t be getting these calls unless you have given a specific company permission to call you. Otherwise, the caller is a company that isn’t obeying the law. 
  • Don’t share your credit card, bank account or Social Security numbers, or any other personal information with telemarketers who call you out of the blue. Once a scammer has your data, they can charge your credit card for their own purchases, sell the information to other scammers and use it to commit other fraud against you.

If you’ve been a victim of a credit card interest rate reduction scam, file a complaint with the FTC. To register your phone number or report a robocall violation visit the Do Not Call Registry.

Tagged with: credit card, scam
Blog Topics: 
Money & Credit


How can we stop these card services calls. I have registered with the Do not calll for both landline and cell phone. I have reported to the Attorney Genersl of MN. Also my cell phone company has blocked up to 5 numbers for 3 months without charge. New numbers and more calls keep coming - every day - sonetilmes more that one. My cell phone is for emergency messages from the nursing home where my husband is. I want these numbers to stop. Please help stop these people calling. Our telephones are for private us - not advertising scam operations.

Scam artists and shady businesses don't always follow the law -- including the Do Not Call Rule. If you are getting these calls and can't get to stop, you might want to ask your mobile provider for a new phone number. Avoid giving the phone number out especially on forms and through websites. When you share your cell phone number with businesses they sometimes share that information with other businesses and with data brokers.

No! I'm sorry, but a citizen shouldn't have to get a new phone number to avoid these scammers. Besides, the scammer will find out the new number in no time. I want a politician to campaign, in part, on this phone scam issue. We need somebody who will promise to shut these people down, now.

I have a list of over 30 phone numbers and I agree that all US Atty Generals need to step in arrest every person in each call center. They can all testify against their superiors in exchange for 5 year prison terms. The superiors must pay back with 25% interest to a state charity and serve not less than 25 years in prison.

They are nothing more than customer service/sales representatives. The FL Dept of Agriculture and consumer services is in these offices 3-4 times a year.

The reps shouldnt do any time, they have a job and are not breaking any laws, the owners are

Many of the so-called "customer service/sales representatives" are rude, take revenge by calling more frequently, and have the audacity to curse people out who ask questions or complain. Hard to have sympathy for them. How about getting an honest job?

The employees have jobs!
But because they accepted instructions to hang up if any normal inquiries are made depicts a causal relationship due to the knowledge imparted by the employer or its representative and therefore does not afford the employee non-culpable status. Granted they may not understand the legality BUT ignorance is not an excuse for breaking the law. There own moral set is questionable too.

Hey "Used to work there" These Customer Service employees are breaking the law as they know that they were talking to people on the do not call list and hanging up on anybody that stated that! How about posting the company that you worked for so We the People can start calling them!

You mean to tell me you think that someone who is knowingly calling and harssasing people shouldn't do time?

This number almost got me


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