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Seniors have you been warned about this phone scam?

Press 1 to call back and we will lower the interest rate on your credit card?

IF you fall for this scam you will be charged a $500 fee (on your card) for them calling your credit card company and asking them to lower your interest rate.

You can call your credit card company yourself, tell them you want the lowest rate they have and legally they HAVE to give it to you. As long as there are no problems with your account.

If you fall for this there is nothing you can legally do to recover your money.

Update:

I've been called 3 times. Phoned back listened to his speal, said actually I work for the RCMP and would like to - And he hung up before I got any further. I dont think they will be calling me again

10 Answers

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  • 1 decade ago
    Favorite Answer

    Isotope You have probably saved me and my family a big headache. This is one of the automated calls that my 'DO NOT CALL' line gets constantly and I complained about that on this forum a couple weeks ago. I have dialed 1 and asked to speak to a supervisor, I am immediately hung up on. Press 2 and your number is supposed to be removed, they call again within a week. This has gone on since I got a land line for my mother's use. I have always been afraid they would con her into something. I had her come in and read your post. Thanks from both of us

  • 1 decade ago

    Thanks for the info..I have 2 cards and never carry a balance..I do use them every so often and pay them off right away, as I want to keep my credit rating up..Credit cards are used in your credit rating..the more you have and the more money available on them for use, the better your credit rating is. If you don't use your card now and then the bank/company will cancel the card, which leaves you with that much less credit and a lower credit rating..

  • 1 decade ago

    When I get those kind of calls I just set the phone down and keep them on the line as long as I can. I have only one card and do not carry a balance. There is no way I would pay that kind of interest to anyone.

  • janey
    Lv 5
    1 decade ago

    I have not heard of this scam. But I have, as you said, called the credit card company on my own and requested a lower rate. But like another responder, I am trying to get rid of my credit card and pay cash for everything like my parents did. Thanks for the info

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  • 1 decade ago

    No I hadn't. They ae always thinking up new ways to get people.

    I have stopped all credit cards some time ago and we are now back to cash for everything we need. It is inconvenient at times but it is the safest way for us to cut down.

    Thanks for the info and I will pass it on.

  • Anonymous
    1 decade ago

    Haven't heard of that one. I am not altogether sure that the internet is worth the risk. Sure wouldn't want to do without YA and some conveniences that I enjoy but I can live happily ever after with out it, too.

    Source(s): Texan
  • Anonymous
    1 decade ago

    I would hang up because I don't have any credit cards. I can't afford one. If I am unable to pay in cash then I do without. I don't have much. What I do have is mine.

  • Anonymous
    1 decade ago

    This is why I let the answering machine take all calls. If I don't recognize the name or number i just erase it.

  • Milou
    Lv 6
    1 decade ago

    You know I have gotten those calls, but always hung up and am glad to know it is scam. Thank you

  • ?
    Lv 6
    1 decade ago

    Thanks for letting us know. I hang up on them.

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