FTC Returns Full Refunds to Consumers Who Paid to Lower Their Credit Card Interest Rates

The Federal Trade Commission is mailing 1,244 checks to consumers who bought deceptively marketed credit card interest rate reduction services after being contacted via illegal robocalls. Affected consumers will receive full refunds, with most receiving $1,100 or more, within the next week. 

In May 2015, a Florida district court ordered several defendants in the FTC’s case against the Treasure Your Success (TYS) robocall scheme to pay more than $1.7 million to the Commission. The court orders concluded the FTC’s district court action against a web of defendants that operated the TYS scheme, including many defendants who had previously agreed to final orders settling the agency’s charges against them.

Using illegal robocalls to bait consumers, the defendants promised to lower people’s credit card interest rates and to save them thousands of dollars, in exchange for an upfront fee. After collecting the fee, they failed to provide the promised interest rate reductions or the savings. They also unlawfully called numbers listed on the national Do Not Call Registry and failed to identify who was responsible for placing the calls.

To read the full press release, click here.

Consumers with questions about these refunds should contact the FTC’s refund administrator, Rust Consulting, Inc., at 877-389-4476. More information about the FTC’s refund program is available at ftc.gov/refunds.