Lower Interest Rate

Lower Interest Rate Scam: How It Works

(with recording of a real scammer below) The phone rings. You answer. An automated voice mentions the burden of high-interest rates and asks if you’re interested in a lower interest rate for your credit card or mortgage.

If you are, you are required to “press 1”, or any other key. From there on, the automated service is just meant to collect your personal info and financial details. Alternatively, you are “given the chance to opt-out of receiving these notifications” and you are required to press “2”. Either way, you are sent back to the same crook ( a real person), who will try to collect your info. Sometimes criminals spoof the banks’ phone numbers using specific software, so your caller ID shows the name of the bank!

Watch the video below to hear EXACTLY what the scammer says over the phone – recorded original pitch by a victim:

Lower Interest Rate Call Scam Video


Lower Interest Rate Scam: How To Avoid

Every call you receive that has an automated service should be hung up on. When banks or credit unions have special offers, a real person will call you directly.


Lower Interest Rate Scam: How To Report

Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:

Report To The FTC Here


How to protect yourself more:

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This is at least the fourth time in recent months that i have received the automated message. It was ‘my last chance to have a lower interest rate!’ I pressed 1 to see what it was all about. I was transferred to a ‘live agent’ who asked me if I was using a VISA card and was my interest rate over 19%? I asked him to tell me where he was calling from and what company he represented. He hung up on me!


I recieved a call saying they could lower the interest rate on my credit card to 6% if I pressed 1. When I started asking questions about what company/card they quickly hung up. The number on caller ID was 760-242-8473

T.D Gute

My wife and I were called several times for lowering Our interest rate by 6%, then I pressed 1/the order, then asked him what company he is from then hang up on me. the phone number was 1 858 729 4303.


I just got a call from them. I hit #1 & got Sebastian Stevens. He said the company name was Card Services. I told him I’m on the Do Not Call List & I was reporting this call. He hung up.

Smarter than the Criminals

Since keeping a log of these calls starting in 2006, I believe I’ve gotten over 500 of these "lower your interest rate" calls, alone, along with all the other scams out there. Got a call from THIS number on 1/28/14 with NO name on CID and no msg. However, reports online indicate this is one of those Credit Card PHISHING SCAM calls. Then, less than 16 hours later, got a call from 310-449-7156 "LANGLEY PROD" on CID; also no msg left. But, others report this is ALSO a ‘lower interest rate’ CC PHISHING SCAM. Likely these two numbers originate from… Read more »


I just got a call from Norfolk, NE 402-844-7493 Message said, "This is the last time this offer will be made." They didn’t identify themselves as being with any banking institution so I didn’t press anything. I called back to see who would pick up the phone – no answer. It’s a scam

Al Veerhoff

Received unanswered call 6/13/14 @ 1400 hrs from 310 449 7156 on cell phone. Thanks to your help, won’t bother to call back.


I just got a call today from Desir Matthews 407-201-7464. A recording came on to lower interest rates press 9. It gave no other options. I pressed 9 and a man answered, I told him to remove me from the call list. He began to talk dirty and I asked for a manager. He changed his voice and continued to talk dirty then told me he didn’t care. I told him I was going to notify local authority. He hung up and I called back to a woman who answered the phone after the second try. Needless to say it… Read more »

Lyn Patrick

For several years I have received calls from different numbers offering to lower my credit card interest rates. I am hung up on when I ask to be removed from their list. The latest calls are from a number in San Antonio, Tx. When I told them this morning that they are a scam and do not call, they hung up and called again this afternoon and left a message about their services but no return call number. Why can’t the FBI trace and put these people out of business.


I got a call from the "press 9" recording also. I pressed 9 because I was interested in whether it was some shady sales pitch or an outright scam. After telling me I had $4000 in credit card debt, and that "they" were my credit card company, I told the female operator with a middle eastern perhaps Indian accent to This is clearly a scam. A bit of advice though, the number that appeared on my called ID was for a local legitimate business, don’t assume the caller ID you see is legitimate either, it probably isn’t. This scam group… Read more »

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