FTC Refunds Consumers Who Wanted to Lower Credit Card Rates

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More than 1,200 consumers who purchased interest rate reduction services for their credit cards through a company known as Treasure Your Success, will receive an FTC refund of $1,100.

According to the FTC, illegal robocalls were used to target consumers with deceptive advertising statements about the rate-lowering service.

“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,” the FTC states.

The FTC refund notice came about after the agency filed a case against Treasure Your Success. The company was ordered to pay more than $1.7 million to the FTC in May 2015.

The phone calls associated with this FTC refund case were robocalls, but the communications also included statements that purchasing the rate-lowering services would lead to savings of thousands of dollars.

However, according to many of the consumers who will now be entitled to refund checks, the company took their upfront fee from people and then never provided the promised savings or rate reduction services.

According to the statement released about the FTC refund for these impacted consumers, Treasure Your Success used autodialers to call numbers listed on the national Do Not Call Registry and never clarified who was placing those calls.

The FTC says these calls were illegal by their very nature, but also fraudulent because they sought consumers signing up for a rate reduction service that would never deliver as promised.

Most people who elect to have their number put on the Do Not Call Registry expect that they will not hear from telemarketers at all. It’s the very reason they choose to list their number there.

The Do Not Call Registry came about after numerous complaints to legislators about the disruptive nature of unwanted phone calls individuals and families received, some of which came on a daily basis.

Once a consumer adds their number to this list and waits the appropriate listing time, it’s illegal for companies to contact that number for telemarketing purposes.

The FTC case was further complicated by other entities involved in the process, such as Universal Processing Services of Wisconsin LLC. According to the FTC, that business was found liable for assisting Treasure Your Success and violating the Telemarketing Sales Rule.

Universal Processing Services of Wisconsin allegedly processed consumers credit card payments even though the FTC says they knew or should have known about the TSR violations carried out by other defendants in the same case.

That same organization was named as jointly liable, meaning that UPS was responsible for paying the consumers losses in the case, which will now come in the form of an FTC refund. That business originally appealed their case, but the FTC still won.

Consumers with questions about the Treasure Your Success refunds may contact the refund administrator Rust Consulting Inc. at 877-389-4476.