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Credit Card – Interest Rate Scams

In Hate, Relationships on July 22, 2010 at 9:04 am

Yesterday, I received a phone call from a strange arizona number. A recording comes on telling me that due to the recent rise in my credit score, I am eligible to have the interest rates lowered on my credit cards.
Telltale sign # 1 – No credit card company calls you with a recording and doesn’t ask for identifying information via touchtone.

Well, I was swayed because there was a recent, albeit small rise in my score. When I am transferred to a customer service agent, the individual proceeds to ask me questions about my debt level. No inquiry into whether I am who I say I am (which I haven’t even stated yet). I am getting suspicious at this point and begin to quiz the agent. What company do you work for? Card services sir, we represent a number of companies on behalf of their customers.
Telltale sign # 2 – Generic company name that holds no real value and is not distinguishable.

As I ramp up my interrogation, the phone starts ringing again as if I was transferred elsewhere. A lady picks up and states that there was an issue with the lines.
Telltale sign # 3 – No credible customer service company transfers you elsewhere without first giving you notice.

The new woman begins the same rant that the last guy gave me but she’s way more aggresive. She states that she is affiliated with Experian, the credit rating agency and while she is talking I notice a ton of background noise. Literally, I can hear every other customer service agent in the room.
Telltale sign # 4 – What credible company with a customer service department can’t afford a bulk order of noise cancelling headphones for their employees.

I ask her why I can’t call my credit card company and request a lower interest rate myself. She tells me that I don’t have the legal binding power necessary to request a lower interest rate.
Telltale sign # 5 – How the hell is a credit card contract not legally binding?

At this point I’m angry, annoyed, and confused. The female customer service agent is in the midst of her spiel, mid sentence, when the line just cuts off. HAH!! Ain’ t that a basket of crap. The full phone call didn’t last more than ten minutes, after which I called my REAL bank and confirmed my suspicions.

If you receive any of these types of calls, know that there isn’t anything a third party company can do for you that you couldn’t call your bank and request for yourself.

Happy Scamming Folks!!

Swag

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