Lower Interest Rate

How the scam works: (with recording of a real scammer below) The phone rings. You answer. An automated voice mentions the burden of high interest rates and asks if you're interested in a lower interest rate for your credit card or mortgage. If you are, you are required to “press 1”, or any other key. From there on, the automated service is just meant to collect your personal info and financial details. Alternatively, you are "given the chance to opt out of receiving these notifications" and you are required to press "2". Either way, you are sent back to the same crook (real person), who will try to collect your info. Sometimes criminals spoof the banks' phone numbers using specific software, so your caller ID shows the name of the bank! Watch the video below to hear EXACTLY what the scammer says over the phone - recorded real pitch by a victim. -

How to avoid:



Every call you receive that has an automated service should be hung up on. When banks or credit unions have special offers, a real person will call you directly.

All of these calls are SCAMS and originate from overseas using "spoofed" or "cloned" local phone numbers to make them appear legit on your call display. Pressing "X" to be removed accomplishes nothing, leaving you the choice of hanging up or staying on the line to waste as much of their time as possible. My record is keeping them going for 12 minutes by playing dumb, always answering their question with one of my own, having to let the dog out/in, etc. Now, I usually just grab one of our other cordless phones, turn it on, and place them speaker-to-mouthpiece to produce a great "feedback squeal" when their 'real person' comes on the line — haven't had one of these calls now for over a month so this maybe works the best for getting rid of these calls. Nothing else has.