BBB Warns- Do not get taken in by the promise
of a lower credit card interest rate.
[Halifax, NS, June 1, 2007] – Maritime consumers are being inundated with telephone calls from company’s guarantying that they can lower the interest rate on their credit cards. Some have been told that they can save up to $2500 a year in interest. The people calling do not work for the actual credit card company but for a non-related business. The company personnel mention that there will be a nominal fee charged for this service. Consumers report having over $700 charged on their credit card. Consumers have also been promised that they will receive information, by mail, about this companies offer but none has been forthcoming. If you are interested in trying to negotiate a reduction in your interest rate you should contact your credit card issuer directly for assistance. Other companies cannot guarantee a reduction only a promise to try to negotiate a reduced rate on your behalf.
The BBB offers the following tips
- Do not give out your credit card information to any unknown firm over the telephone.
- Do not agree to anything over the telephone. Always ask the company to provide any offer in writing so that you can make an informed decision.
- Always get the full name of the company, the address as well as any telephone numbers so that you can check the company out with the Better Business Bureau.
- Report any suspicious telephone calls to Phonebusters at 1-888-495-8501 or www.phonebusters.com.
Remember! Any offer that sounds too good to be true-probably is.