Interest Rate Scam

Too good to be true?

"Zero Interest. Zero Transfer Fees. Forever!"

Zero interest rate! Wow. Who wouldn't want a lower credit card interest rate. After all, most credit card rates hover anywhere between 18% - 22%. Heck, anything lower than that sounds like a dream come true. But unfortunately, that dream scenario can quickly become a never-ending nightmare for those who succumb to this robocall telephone scam.

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What You Should Know

Most consumers receive several, weekly mailers from their banks offering the interest rate du jour. And chances are that those are legitimate offers from reputable institutions. But what about robocalls that begin with: "To lower your credit card rates, press 1"?

It's an automated call scam currently plaguing the nation. It starts with an automated voice mentioning the burden of high-interest rates. With offers of incredibly low interest rates, consumers are lured into pressing keys on their phone ("press 1", or any other key). From there, the automated service attempts to capture personal info and financial details. The service gives you an Opt-Out option, but that's also part of the scam. Whether you "press 1" for the promotion, or "press 2" to opt-out, you are sent back to the same scammer who will try to collect your info.

How YouMail can help stop interest rate scams today

YouMail is the leading solution for getting rid of robocalls and we are proud that our customers are protected from scammers, spammers, and other unwanted callers. Best of all, it's a 100% free service available for everyone!

Here are a couple of REAL voicemails
left with YouMail customers.

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What you should do

Don't be fooled by any caller (or robocaller) offering lower interest rates. Remember, sometimes criminals spoof the banks' phone numbers using specific software, so your caller ID shows the name of the bank! Every call you receive that has an automated service should be hung up on. If you're looking for a lower interest rate, contact your bank directly. We also suggest that you officially report the scammers to the Federal Trade Commission using the link attached.

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Our best advice

It comes down to the same advice for all robocalls and unknown callers. Let them go right to voicemail. If it's a legitimate caller, they will leave a voicemail. With YouMail, if it's a robocall, you'll know it. It's the best possible way to protect you from fraud. Easily get more info on any number and decide whether to call them back or block them forever. Even see what others are saying or contribute to the  YouMail Community Directory yourself!