Have you gotten a phone call that says they’ll lower your credit card’s interest rate? The Better Business Bureau is warning consumers that they should always ask the company for their full name, address, phone number and Web site – and then use that information to check out the company – before believing the sales person’s claims.
Individuals contacting the BBB in the past few weeks report receiving phone calls asking consumers if they want their credit card interest rate lowered. “Many consumers have had their interest raised on their credit cards recently, so this is an enticing offer,” said Jane Driggs, president of the BBB of Utah.
One Utah consumer stated that the company said that her interest rates would be lowered on her credit card, if she gave them information to see if she qualified. Then they added that it might not cost her anything – the tip-off that it most likely will cost her if she decides to get involved with this company.
The phone number on the caller-id has a New York area code. Upon trying to call the number back, the BBB received a computerized message that says “this subscriber cannot receive messages at this time.” The number is for a mobile phone. The name on the caller-id is for a company that is in the drywall business and has nothing to do with credit cards.
Consumers should not give out personal information to any unknown caller. When one of the Utah consumers asked for the company’s name and address the call was suddenly disconnected.
The BBB issued an alert last year about these same offers.
Ø Check out the company. Look up the company’s reliability report at www.bbb.org. You can also use a search engine to search for information on the company: you may find reviews from consumers that could help you make an informed decision.
Ø Verify the company’s information:
o Physical address. If you can’t find a physical address online, you shouldn’t do business with them. Reputable companies make this information available.
o Phone number. Call it and make sure you can get through to a live operator, so that if you have a problem you know someone will be there to help you.
Ø Ask about costs. Companies don’t just give away their products or services; ask about fees. Don’t give out any financial information until you know how much you’ll be charge and for what. Ask for this information in writing.
The Better Business Bureau of Utah is a 501 (c)(6) not-for-profit corporation serving the entire state of Utah. The organization is funded primarily by membership dues from more than 2,800 local business and professional firms. The BBB promotes integrity, consumer confidence and business ethics through business self-regulation in the local marketplace. Services provided by the BBB include reliability reports on companies and charitable organizations, general monitoring of advertising in the marketplace, dispute resolution services, and consumer/business education programs. All services are provided at no cost to the public, with the occasional exception of arbitration. Visit www.utah.bbb.org or call 801-892-6009.