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Interest Rate

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Interest Rate

Spot It

Here the scammer pretends to be offering you a reduction on your interest rate and gives an ultimatum to create urgency. The offer isn’t real — it’s a scammer calling.

LISTEN HERE

Audio Transcript:

"Thanks to your good payment history and good credit score, you have been qualified finally for interest rate reduction between 0 to 5%. Several attempts were made to reach you. This is your final courtesy call before we are unable to lower your interest rates. So press 1 now."

Stop It

Hang up if you get a call like this. Read Avoiding Scams To Lower Your Credit Card Interest Rate for more information.

Take These Steps to Protect Yourself from Robocalls

Michigan's Robocall Crackdown Team

As the Department continues to crack down on robocalls, consumers should take these steps to protect themselves: 

  • Hang up and call the company directly using a number listed on the company's website. 
  • Never give personal information to someone you do not know. 
  • Ignore calls for immediate action; scammers try to use a sense of urgency to get you to act before you can think about what is happening.  
  • Beware of requests to pay via wire transfer, prepaid debit card, gift card, or any type of payment app.  

Report robocalls to Michigan's Robocall Crackdown Team

MI Robocall Crackdown Team
Phone call from robot