I got a phone call - an automated voice told me it was a phone call about my credit card account, and to dial 1 to speak to someone about it.
I pushed 1.
When "Tim" came on the line, he had a very convincing spiel on how this company, that he kept referring to as "Consumer Services, " could help me lower my credit card interest rates. I asked him which credit card company was he calling from, as I have more than one.
He fumbled a little bit, and tried to explain that this company worked with the credit card companies: Master Card, Visa, American Express, to reduce the interest rates, therefore saving mountains of money.
I was hesitant to give out my information, but I ended up giving my credit card number, and they even wanted my social security number, which I regret giving them - I'm a very skeptical person, but it just so happens I've been trying to refinance my home, and thought this might be another good way to reduce some of my debt.
"Tim", of course, tells me that I qualify (I need to have over $3000 worth of credit card debt - I had less than that but still qualified.)
Once he's done with his pitch, he transfers me over to "Kami" to close the deal. Now I'm waiting to find out how much... What will they soak me for.
She said I'd save over $4k, so their fee of $1450 wouldn't even be required from me - they'd just slap it on the card and it would be absorbed from all the money I'd save.
I didn't want to add $1500 dollars to my balance, and "Kami" started to get excited. She insisted that I'd save so much money, it would be more than a wash - I'd still come out ahead because of all the savings.
I still said no, and she started to get angry with me. I said I'd call the credit card company to verify that they worked with them. "Kami" didn't want me to do that - she told me that customer service wouldn't know anything about them because they work with special people in the company. RED FLAG.
So I got on here - complaint.com - and found tons of stuff under comsumer services. I told her I was reading all these things about them, and she corrected me, and I finally found out what they were calling themselves - Leverage Connection.
So I typed that in. Only one report came up, but that was enough for me. I don't need hundreds of reports to convince me - one is enough. I informed "Kami" that Leverage Connection is also on usacomplaints.com, and she got very defensive.
Now she was getting desperate. I'd taken up a lot of their time! She bitched that she'd just spent half an hour on the phone with me telling me what a great deal this was, and told me that refinancing my house was a bad decision (and in my present situation, I can take it or leave it) and rambled to the point where I tuned her out. When I spoke, she just talked right over me. So I hung up on her. I lost 45 minutes of my life as well. I'd been busy and in the middle of something when the call came in.
I immediately called my credit card company and asked about them working with Leverage Connection to help consumers reduce their credit card interest rates, and they haven't heard of them. I explained what had happened, and that I wanted it noted that if any charges came through from them to deny it. The first woman in customer service complied with my request.
I also signed up for identity protection, as it's cheap, and I worry about this scam artist using my personal information. I was transfered to another agent and I asked for a lower rate. I got my lower rate right then. I declined another offer she made me, and she gracefully accepted my answer - a HUGE different from trying to decline "Kami".
I told her the same story I told the first girl, and she just decided to shut down my card altogether and assign a new account. She explained that what these people are doing is actually legal, but they do what I'd just done. They call the credit card companies and ask for a lower rate and charge that outrageous fee for it.
That's how it's legal and how they can get away with it - because they're offering a service, and once the rate is reduced, they've fulfilled their obligation. My rate went from 25.99% to 22.?? - I haven't worked the numbers, but I don't have to fork out an additional $1450.00 to some crack pot for something that took me 2 minutes to do.
This is a scam that a lot of older people get suckered into. I can only pray that everyone researches anything big like this thoroughly. If they use phrases that make you think you have to do it now or you'll never get it again, it's a scam. If the sales person/representative gets mad, it's a scam. If they try and try and persist to convince you this is something you can't live without, it's a scam.
I spent a long time on the phone with them, and I'm a hard core skeptic, and they had me going - but I'm very tight with my money - and I'm always waiting for the hook - the hand in my pocket. I'm so sick and tired of being ripped off, that I wouldn't trust a trust-worthy person anymore.
Don't give these people any information. They will drive you crazy with their persistence, just hang up. Some people have no conscience.
You can reduce your credit card interest rates all by yourself. If your account is in good standing, you shouldn't have any problem. If you're late, overdrawn, or have any other issues with your payments, you may not get a lower rate, but if you've been making your payments on time, and if you've been making higher payments than they want, you have an excellent chance of getting a lower rate.
Just call the 800 number on the back of your card and tell them you want a lower rate - you'll be transfered to someone who handles that, and talk to them. Nobody works with the credit card companies to do that.
Think smart! Keep reading this website! I check everything on this site now, and it always amazes me to find complaints on here.
If you don't find something you're looking for on this site, Google it. Look for consumer comments - there have been times when I found nothing on this site, but after searching the rest of the web, found sites where people were very upset with a product.
Take care - beware.
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