The scam explained:
http://www.bankrate.com/finance/credit-cards/ ... ction-scam.aspx"Southwick says these outfits promise to save the consumer anywhere from $2,000 to $25,000 in interest, but charge a large upfront fee, typically around $600 to $900. The caller asks consumers for their credit card information, including the customer service number on the back of the card. The advance-fee company then places a conference call with a customer service representative at the credit card issuer and asks to have the consumer's interest rate reduced. "That's the extent of the negotiation process from some people that we've heard (from)," she says.
Something for nothing
Depending on the specifics of the offer, these companies may be violating Section 5 of the Federal Trade Commission Act, which prohibits unfair and deceptive practices, according to Bockstein. The calls may also violate the Telemarketing Sales Rule and the National Do Not Call list.
At best, these companies charge a high price for something consumers can do for free. They have no more pull with your credit card company than you do, and you could still get turned down for a rate reduction despite their promises. Just call the customer service phone number on the back of your card and ask for a lower rate."
http://money.msn.com/saving-money-tips/post.a ... 4d-43d3e078e45f"Real credit card issuers and networks never offer to lower customers' long-term interest rate in exchange for an upfront fee, says Gerri Detweiler, Credit.com's personal finance expert.
Here's how the scam typically works: According to the Better Business Bureau, consumers like "twenty45" receive a phone call with a recorded message that makes statements like, "There are no problems currently with your account. However, it is urgent that you contact us concerning your eligibility for lowering your interest rates to as little as 6.9%."
Potential victims are told they must call a separate number to talk to a live "operator." This person offers to negotiate with the consumer's credit card issuer for a lower interest rate in return for an upfront fee, usually between $700 and $1,000.
Sometimes the scammers actually do call the issuers and ask for the rate to be lowered. If they do, this is the beginning and end of the supposed "negotiation."
Here's the trick: Consumers can do the exact same thing, for free. If you make a good case, such as the years of loyalty you've shown your issuer or the fact that you're receiving offers from many other issuers for cards with far lower rates, you might even win a lower rate yourself."
In summary (for those who might not get it or are unaware that Card Services is a scam):
• "these companies charge a high price for something consumers can do for free." "Just call the customer service phone number on the back of your card and ask for a lower rate."
• "Real credit card issuers and networks never offer to lower customers' long-term interest rate in exchange for an upfront fee"
• The scam: "Potential victims are told they must call a separate number to talk to a live "operator." This person offers to negotiate with the consumer's credit card issuer for a lower interest rate in return for an upfront fee, usually between $700 and $1,000."
• The facts/truth: Consumers can do the exact same thing, for free.
A few last quotes here:
"Voice mail boxes across the nation are being clogged with prerecorded phone calls from companies that claim to be able to negotiate significantly lower interest rates with your credit card issuers if you just pay them a fee first.
The Federal Trade Commission (FTC), the nation's consumer protection agency, says consumers who get these interest rate reduction robocalls should listen to them with extreme skepticism, and delete them. Many are scams.
The companies behind the sales pitches claim to have special relationships with credit card issuers. They guarantee that the reduced rates they offer will save you thousands of dollars in interest and finance charges, and will allow you to pay off your credit card debt three to five times faster. They claim that the lower interest rates are available for a limited time and that you need to act now. Some even use money-back guarantees as further enticement.
The FTC says that the companies behind these robocalls can't do anything for you that you can't do for yourself — for free. You have just as much clout with your credit card issuer as these companies, and you are just as likely to get turned down for a rate reduction regardless of their promises or supposed efforts to negotiate on your behalf. Indeed, FTC investigators found that people who pay for these services don't get the touted interest rate reductions, don't save the promised amounts, don't pay off their credit card debt three to five times faster, and struggle to get refunds."
That's from the FTC!!!
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt178.shtm"People are being bombarded with scam telephone calls that promise to help lower their credit card interest rates. The recorded calls purport to come from nondescript entities such as “Card Services,” “Cardholder Services,” etc. Due to the nondescript identification of the caller, some people may believe that the calls are from their credit card company. When people return the calls or press their keypad as directed, however, they may be contacting debt assistance scam artists or identity theft crime rings.
Identity Theft. Some “Card Services” calls are made by criminal enterprises whose intent is to obtain personal financial information to commit identity theft. The callers may attempt to gain trust by indicating that they are associated with a bank, or that they only need to “verify your banking information” to help lower your interest rate. In other cases, they may claim to be able to negotiate better terms or conditions on a credit card account, and then pressure the citizen to disclose financial information to take advantage of their “limited time offer."
That's from the Attorney General of Minnesota!!!
http://www.ag.state.mn.us/Consumer/Publications/CardServicesScams.asp""How it works: Con artists use a friendly female voice and generic name to try to get you to pay to reduce your credit card rates, some making as many as 2.6 billion calls per year. According to the Federal Trade Commission, almost 13 million people who got these robocalls were fooled into speaking to an agent in 2010."
That's from the Better Business Bureau!!!
http://www.bbb.org/blog/2012/07/it-isnt-reall ... older-services/Let's see, Media, FTC, State Attorney General (and I'm sure other AG's have posted on their sites much the same as well) and the Better Business Bureau. I wouldn't be surprised if the FCC and the FBI's IC3.gov site also have much the same warnings too!!!
So to the little shill who's BORED ... looks like your bs falls flat!!! The facts actually do speak for themself ... and quite clearly at that too!!!
And add to that:
http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel15.shtm"How Telemarketing Scams Work
The heart of a fraudulent telemarketing operation is usually a "boiler room," where seasoned operators try to scam hundreds of thousands of people across the country every day. Telephone fraud knows no race, ethnic, gender, age, education or income barriers. Anyone with a phone can be victimized by telemarketing scam artists.
Cold Calls. Scammers may get your number from a telephone directory, a mailing list or what fraudsters call a "sucker list." Sucker lists contain information about people who have responded to previous telemarketing solicitations, like their name, phone number, and how much money they spent. The lists are bought and sold by promoters. They are invaluable to scam artists, who believe that consumers who have been deceived once are vulnerable to additional scams."
"It's illegal for a telemarketer to call you if you've asked not to be called."
"It's illegal for telemarketers to misrepresent any information, including facts about their goods or services, the earnings potential, profitability, or risk of an investment, or the nature of a prize in a prize-promotion scheme."
From earlier on the same page (above):
"If you buy into any of the above scams, you're likely to be placed in a sucker list and be called again by someone promising to get your money back. Be careful not to lose more money to this common practice. Even law enforcement officials can't guarantee they'll recover your money."
http://www.ftc.gov/opa/2011/12/roycox.shtm"FTC Charges Telemarketers with Illegal Robocalling
Allegedly Violated the Do Not Call Registry, Disguised Caller ID
... The complaint alleges that the defendants failed to transmit their name or the names of their clients on caller ID displays, as required by law. Instead, they allegedly sought to hide their identity by using generic, inaccurate names such as "CARD SERVICES," "CREDIT SERVICES," or "PRIVATE OFFICE." "
Notice who they claim to be on Caller ID: " "CARD SERVICES," "CREDIT SERVICES" !!!"
Now if these scammers were legit and doing legit (read that legal) telemarketing then why would there have ever been any action taken by the FTC against them? Fact is, Card Services is not legal but a scam!!!
• Blatantly call numbers listed on the National Do Not Call List
• Use Robo-dialers to call every number randomly
• Have a phony "opt out" (pressing a number) that actually is an "opt in" (the opposite) ... it actually confirms that Card Services reached a live number, the calls not only continue but increase and it gets placed on a suckers list
• Use Caller ID spoofing ... maliciously
• Known to use cell phones and at times VoIP services
ALL the above is illegal!!! A legit/legal telemarketer would abide by the laws within the TCPA. Only criminal scammers who care nothing about laws would break them. Because they don't care about the lives they disrupt and the privacy of those they harassingly call in the illegal manner they do. All these bottom feeding pieces of trash care about is their own pathetic selves and what they can steal from innocent victims!!!
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