Recently I have got many phone calls about lowering my credit card rates from robocalls on my cell phone, while I am unsure at this point who sold my information (phone number) these calls are all about scams and getting your money, They start with what sounds like a debt collection call and then end with asking you if they can lower your credit card rates. Here is the fun part, I do not have a credit card nor will I ever have one because I do not believe in debt. If I can not pay for it cash I would rather not have it (minus large purchases: house, car).
These calls are automated and you do not get a person on the line unless you select 1, which of course I do every time. They then ask if you would like your credit card interest rates lower and when you tell them that you do not have a credit card or your interest is 0% they hang up they do not say bye or anything just plain hang up. These calls are also violating the Do Not Call registry.
How are they a scam?
They will want to charge you an up front fee for the negotiating for a lower interest rate, you can do this on your own as the consumer however and these fees range from $700 – $1000 dollars. The BBB has had many complaints against these types of calls and is recommending that if you would like your rates lowered that you call the credit card company yourself and ask for the rates to be lowered. While they do not have to do it if you can bring a good case they will be willing because some money is better than no money.
Get on Do Not Call List
Sign up for the Do Not Call List and book mark the site, it will take 30 days before your record is active but on day 31 you can report all robocalls and telemarketing calls. Also even if you are not on the do not call list you can report any robocall to any number no mater what.
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Just to add some info -
Most robocalls became illegal on Sept 1, 2009. See New Rule Prohibiting Unwanted “Robocalls” to Take Effect on September 1.
Also, the FTC did crack down on some scams to lower credit card rates. See Operators of Credit Card Rate Reduction Scam Are Banned From Telemarketing.
Unfortunately, being on the do not call registry won’t stop the scam artists. Let’s face it. If someone is out to commit fraud by scamming you, what’s one more little crime, like calling someone on the do not call list.
Many people may not know it, but you can also file do not call complaints and robocall complaints with the FCC as well as the FTC. Complaints can be filed on line, and I like the FCC complaint form. It asks for more information, and you always get a reply in the mail from the FCC. Of course, it’s only written documentation of what you told them, but it does give you a better feeling. You can file a complaint with the FCC online at esupport.fcc.gov/complaints.htm.