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Hey everyone, I had an interesting call and wanted to know if anyone has ever had anything like this happen. Random call comes in from a number I have never seen and I am connected to a lady with an East Indian accent. She goes on to tell me that this is card services, they are the servicer on Visa, Mastercard, etc. Apparently Experian had a list of people who made their payments on time and above the required amount and I was being called because I qualified to have my interest rate reduced. Huh? Who are you? So she repeated and I was hesitant to continue the conversation, but I did and here is why. I have a credit card with my local credit union and make my payments to them. However, if I need anything done to the account i.e. change address, balance transfer, etc. I have to call card services. There is even a prompt on their phone directory when you call. So I was weary of this call, but was familiar with the card services aspect.
The lady explained again how she got my number and information. I'm still skeptical at this point. So she says my interest rate is crazy high (currently 0% period, ends December 2013) and they want to reduce it to 5% for the entire time I have the card. Huh? Why? Because Experian had a list of people who made their payments on time and above the required amount and I was being called because I qualified to have my interest rate reduced. Right. She read that script well! lol So now she asks which account I would have the interest rate reduced. Although I have a consumer-business relationship with the bank, they have a business-business relationship, and the bank will have not refuse when they lower the interest rate on this Visa. She says she needs the account number and the last statement balance to verify. I'm thinking, "Miss, I'm not giving you my account information over the phone, especially when you called me!" If you're going to lower my interest rate, lower it. I mean if this is such a great benefit how come I have never heard of it? I asked what benefit they receive from this and she just says that they don't want to see me get ripped off with the interest rate the bank is charging me. Sure.
Neverthless, I happened to be driving and my wallet was locked in my glove box (I was in the gym and left my personals locked in the car, only kept the car key with me). The key to unlock the glove box was in the ignition to drive the car, so I couldn't get it out. I told her this and she says she will call back. She calls back and I'm still driving. I'm telling you she must have read that script to my at least 5 times. I kept telling her the situation and asked if she can give me a number to call her back when I arrived at my destination. Script again. I told her I'm done going back and forth, she didn't give me a number and apparently my information will be 'recycled' back into the pool of potential applicants.
This was weird in every way and my 'sketchy' alarm was ringing like crazy. Has anyone ever had a call like this from 'card services' to lower an interest rate on ANY of your Visa or Mastercards?
Sounds like a phishing scam 100%
I got the exact same call multiple times a few months back, it's a scam for sure.
I think you were being scammed as well.
If your bank or credit union wants to lower your interest rate, they will.
Glad you had the presence of mind to NOT give out any info.
The call you received is from a group that has been run out of business by Federal Agencies and changes their location and goes at it again. They pay no attention to the "do not call list" and yes they are a major scam. Of late, they were using the area code (616) xxx-xxxx (out of the United States). They just keep on scamming. Also, like other posters already said, your bank or financial institution will NOT call you like that and violate your privacy.
No card company is ever going to call you and tell you anything like that. This sounds like a total scam. I would not provide any info.
The fact that they asked for the entire card number and the balance indicates they are not legitimate. Any other company would just ask you to verify the last 4 digits of your account number or social or something like that.
DO NOT take these peoples call again.
You know yourself when they are not calling "FROM" your bank and tell you that you have high interest but you know you are at 0%, this is not legit!
@Crashem wrote:
I dont think that was phishing. My guess is that they are doing outbound telemarketing for debt consolidation/negotiation/etc company. Basically they do soft pulls on credit reports and see who is carrying credit card debt. My guess is since you have 0%, you are carrying big balance hence they thought you might be good candidate.
I reckon this is what it is too. Most likely the account will be closed if you agree to the lower interest rate that they offer. They ring the house all of the time saying that they can lower payments on credit card debt and other such rubbish. We never answer but they don't seem to get the message.