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Credit Card Interest Rate Reduction Calls Return

Credit Card Interest Rate Reduction Calls Return - The Beacon


By: Amanda

Credit Card Interest Rate Reduction Calls Return

Yesterday, we heard from a consumer letting us know that there may be a new round of phone calls claiming that you can lower the interest rates on your credit cards.  She said the caller ID said “Private Caller.”  She said that initially they congratulated her on having a good payment history on her Visa or MasterCard and asked if she wanted to lower her interest rates.  Right away, the consumer was suspicious as she doesn’t have a credit card.  She asked who was calling and where they were located, and at that point, the person on the other line hung up.

The BBB wants to remind consumers not to give out personal information over the phone as personal information can be used to steal not only money but your identity.  According to a recent study by Javelin Strategy & Research, identity fraud resulted in $21 billion in losses to over 12 million consumers last year, the highest rates since 2009.

To learn more on Identity Theft and get tips to protect yourself from becoming a victim, view the presentation below.


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Amanda is the Director of Bureau Affairs and is a regular contributor to the consumer education blog. She is one of our go-to colleagues for answering complex consumer inquires. Amanda also manages our charity reporting program.