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If you’re struggling to pay your credit card bills in the COVID-19 pandemic, a call from “cardholder services” offering to lower your card interest rate may seem like a lifeline. However, scammers are using this term to prey on consumers who need help.
Account service call scams are a type of phone scam in which fraudsters spoof your caller ID to display “account services” or “cardmember services.” If you answer, scammers pose as representatives from credit card companies, collection agencies, banks, or utility providers.
If you really want to contact the actual Cardmember Services company, call the phone number that appears on your credit card bill. The scammers are just using their name to commit fraud. Unfortunately, there is little you can do to stop criminals from calling your phone number.
If you spot a scam to lower your credit card interest rate or have information about a company or scammer who called you, report it at ReportFraud.ftc.gov. If you didn’t lose money and just want to report a call, report it at DoNotCall.gov .
The Federal Trade Commission is sending full refunds totaling more than $11 million to consumers who lost money to a bogus credit card interest rate reduction scheme operated by E.M. Systems & Services.
People are receiving a high volume of repeat calls from “Card Services” or similarly-named entities. People who ask the callers to take them off their calling list often run into a host of problems ranging from “spoofed” telephone numbers to third-party telephone companies that are unresponsive.
1. Phishing Call, Email and Text Scams. 2. Interest-Rate Reduction and Debt Settlement Scams. 3. Online Shopping Scams. 4. Credit Card Skimming. 5. Unsecured Wi-Fi. How to Avoid Credit Card Scams. Steps to Take if You’re the Victim of Credit Card Fraud. Monitor Your Credit and Identity.
First, Toby did everything right. Never give your personal financial or other information to random callers, no matter how legitimate they might sound. Second, the “Card Member Services” website is owned by First USA, a legitimate financial institution.
Scammers reach out by phone, email, or text, claiming to be from the issuing bank or credit card company. Many begin as a “ robocall ” recording offering a better interest rate, updating account...
Written by Lindsay Konsko. Have you gotten a phone call in which a recorded voice promises to reduce your credit card interest rates? If you have, you're just one on many. (If you haven't, just...