TRUTH 7 Credit card rate reduction scam
Would you be enticed by a telephone call purportedly from someone connected to your credit card company telling you that he could help you reduce the interest rate on your credit card to as low as 4.75 percent? Many people are.
And why not? If you have caller ID, the call appears to be from your credit card company. The cost for this service is generally hundreds of dollars that, you are told, will be totally refunded if the promised credit card interest rate reductions are not obtained. So what is there to lose? Upon sending the company the initial money, you receive a form to fill out that requests information about your credit cards and other debts as well as requesting your Social Security number and ...
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