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FEDERAL TRADE COMMISSION CONSUMER INFORMATION

 

 

Avoid Credit Card Interest Rate Reduction Scams

February 15, 2013 by Cristina Miranda

Consumer Education Specialist, FTC

 

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.

 

 

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