lowering credit card interest
Complaint
Carole
Country: United States
They wanted to lower interest rates on my credit card, they had numbers and i foolishly gave them my other card info. i was half asleep and have been sick. i told them i decided i don't want it that it must be a scam. now i am really worried. should i call my card companies? i hung up before they asked about paying them, they called me back i told them i didn't want it but i'm worried they have my info?
Comments
This is a fraudulent sales pitch used by "lower your interest rate" scams to pretend they are "affiliated with VISA" or "MasterCard",. to lull you into trusting that it is safe to give them your information. Despite what they told you, they have no connection to your bank, any credit card company, or either VISA or MasterCard.
They typically engage in extensive violations of the Do Not Call laws using overseas robocallers, reportedly transferring "customers" to call centers in south Florida. FTC has been playing wack-a-mole with them for years.
They typically charge around a thousand dollars, supposedly for this "service" of "lowering your interest rates", which they have no ability to do. They'll string you along with promises until they run out the 60 day credit card dispute clock, after which they've got your money, since your chances of getting it back by a lawsuit are virtually nil with companies that hide their real identity, and operate behind layered LLCs with ever changing names.
If you find fraudulent charges through contacting your banks, contact their customer service or fraud departments immediately to dispute them, and send a WRITTEN dispute to the dispute address from your statement. Insist on getting a fraud affidavit, sign and return (keeping a copy of all communications for your own files).
You should ALWAYS report fraudulent or criminal acts to the authorities: FTC, your state AG, and your local police authorities.
https://youtu.be/kOeSMY26udg
Caller ID said ERICKA TAYLOR.
Voice was male with foreign accent stating he was with VISA/MASTERCARD account services and wanted to lower my rates. He then asked if I knew what my account balance was. I had a good idea that this was a telemarketer, so I said no. He then asked if I had a guess at what it was. I stated that if he were with those companies, he would have that information. He asked for my account number, and I again repeated that the company would have all of that on record. Then he hung up.
I can see how one could easily get fooled into thinking these types of phone calls are legit. He used my name in the conversation. Almost everyone has either a VISA or a MASTERCARD. When you hear that your credit card company is calling you, your ears really perk up. But how they route the calls and from where, and how they put a seemingly American looking/sounding name for the Caller ID . . . SHAME SHAME SHAME
WHO DO I REPORT THIS TO???
you can report to the FTC online (if you've had your number on the do not call registry for 60 days minimum) but it won't get very far as they do operate under false names and essentially "take over" someone elses number.
This is what really annoys me. It's scams like this that give the rest of the legitimate businesses a bad name. It's a shame too, because now the frustration is at an all time high with these kinds of calls and it has such a negative connotation to it. When consumers are contacted with legit offers there's distrust and they can miss out on actual opportunities. Any company/ representative worth their salt will be polite and have ways to make you feel more comfortable speaking with them.
I'm a loan officer with a mortgage company. So for example, when a consumer is wary, I again state which mortgage company I am from, mention that they can look up my licensing ID with the NMLS Consumer Access website and see where I work, work history, that I've had background checks done and have been vetted through each state I have a license with. I then give them my extension number and tell them that they can reach me with the general 800# given on the company's website. Some people feel better and don't mind moving on from there. Some go through the steps and sometimes I stay on the phone with them to help them through the process. Others I never hear back from. I just see this as the nature of the business.
I've 37 state licenses in total, at this point, and am tested each year and have a ton of guidelines/rules/laws I have to follow or be dealt the consequences of losing my licenses, getting fined and even possible jail time. We are constantly monitored for compliance and for the quality of our calls. The companies themselves can get whacked with hefty fines as well. So the good companies make sure all of their staff are up to snuff.
Ask questions before hanging up and being rude and right away, you'll know if this is a representative who does their job correctly.
On a side note, you could receive calls once or twice a day sometimes. This is because we don't know what time is best to try and contact you.
Just remember that there are legit companies and then there are scams. They'll act differently.
With credit card companies, you can always ask for the representative's extension #, and then use either the # on the back of your card or on your monthly statement, if you feel uneasy on the phone with them.
I've dealt with identity theft and it is a tedious job getting everything straightened out. So if you do give information away and then have doubts, contact your card companies, banks and look for any recent charges that don't look right.