Scammers are fraudulently offering low-interest rate credit cards

Table: SharePoint
Table: SharePoint

The Financial Consumer Agency of Canada (FCAC) warns Canadians to be very careful about giving out their personal and financial information over the telephone or online

Ottawa, July 26, 2013 – Don’t let someone charge you for a service you can get for free. The Financial Consumer Agency of Canada is advising Canadians to be wary of a recent scam that involves unsolicited phone calls from fraudsters offering to apply for a low-interest rate credit card on a person's behalf, for a large fee. The fraudster will request personal and financial information, including a person’s existing credit card number, which is charged a fee. Consumers should never pay a fee to a third party for this service.
People should only share their sensitive information with a company by telephone or Internet if:
  • they contacted the company themselves, and
  • they are completely sure they are dealing with a reputable company.
IMPORTANT: Most financial institutions offer low-interest rate credit cards and consumers can apply for these cards on their own through the financial institution directly.

FCAC has a Credit Card Selector Tool that lets anyone compare dozens of low-rate credit cards.

If consumers receive an unsolicited call during which the caller asks them to provide their personal or financial information, they should take the following steps:

  • Ask for the caller’s name, company name and department, and then end the call.
  • Find a contact number for the company. Look for it on a credit card, bill or account statement, online or in a telephone directory. Do not use a number provided by the caller.
  • Call the company and ask to speak to the person who contacted you. Consumers should also confirm any information the caller gave them, such as whether there has been any fraud related to their account.
It is also important to contact the following organizations:


Financial Consumer Agency of Canada
Media Relations

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