Rise credit card to write off any balance owed

damo8604

Just received an email from Rise to say that as of 1st March any outstanding balance on my Rise card will be written off and account closed.

They are also writing to CRA's to delete the entry on the file, has anyone else had a similar email?

Anthorn

Are you sure it's not a scam or phishing. I hope you haven't given over your personal info, card details, etc. Or maybe it's just someone taking a rise out of you.

damo8604

It doesn't appear to be a scam, it's not asking me to do anything other than stop paying them and they have the last 4 digits of my account on the email

Ebe_Scrooge

I've never heard of Rise, but this sounds dodgy in the extreme, to put it mildly. No creditor is going to write off your debt, out of the blue, for no reason at all.

My gut instinct would be that it's 100% a scam of some sort - though I can't quite see how the scammers would benefit from it.

That aside, the simplest thing is to ring your card company and ask. Just make sure you ring the number on the back of your card, or on your statement - i.e. a number that you know to be legitimate. Don't trust a phone number that's provided in the email, if it is a scam it'll just put you through to the scammers.

SnowTiger

damo8604 wrote: »

It doesn't appear to be a scam, it's not asking me to do anything other than stop paying them and they have the last 4 digits of my account on the email

It was operated by Raphaels Bank. A posh name with a long history, but they chased the lower end of the market.

They stopped offering their Rise and Shout cards some time ago.

IIRC punters paid £10 a month for every £100 they borrowed.

It appears they've given up on it.