The Rachel With Cardholder Services scam is a scam where a company offered to lower credit card interest rates for a fee, according to ABC News. Credit companies are not allowed to guarantee a specific rate or grant credit in exchange for upfront payment.
The scamming company used a pre-recorded phone message using a voice identifying herself as Rachel with cardholder services, according to ABC News. Individuals interested in the service were then transferred to a live operator. The Federal Trade Commission settled with a collection of companies using the scam and compensated victims of the ploy for $42.95 each in 2015.