Attorney General Schneider Warns Consumers of Credit Card Interest Rate Reduction Scams

November 8, 2011

AUGUSTA ? Attorney General William J. Schneider is warning consumers about reports of pre-recorded phone calls from companies claiming to be able to help lower the interest rate on your credit card.

?There are reports from Maine consumers who have received the automated phone calls asking individuals to enter their debit or credit card number,? said Attorney General Schneider. ?Never provide any personal banking information based on an automated phone call. If you get one of these robo-calls, immediately hang up and contact our consumer hotline.?

A typical call will come from ?card services?, ?card holder services? or ?credit card services? and regards lowering your interest rates. The recording instructs the individual to press 1 for more information. The caller then requests your credit card number, social security number or other personal information.

Attorney General Schneider advices consumers to protect themselves by following these guidelines:

1. Don?t give out your credit card information. Once a scammer has your data, they can charge your credit card for their own purchases or sell the information to other scammers.
2. Don?t share other personal financial or sensitive information like your bank account or social security numbers. Scam artists often ask for this information during an unsolicited sales pitch and then use it to commit other frauds against you.
3. Be skeptical of any unsolicited sales calls that are prerecorded, especially if your phone number is on the National Do Not Call Registry.
4. To report violations of the National Do Not Call Registry or to register your phone number, visit www.maine.gov/ag/consumer/identity_theft/do_not_call.shtml

If you think you have experienced a credit card interest rate reduction scam, call the Attorney General?s Consumer Protection Hotline at (207) 626-8849.