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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 (MP3)

  • 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 How to Recognize Scams To Lower Your Credit Card Interest Rate for more information.

Take These Steps to Protect Yourself from Robocalls

  • Phone call from robot

    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