Credit card scam – CREDIT ONE BANK?
About 11 years ago my wife filed bankruptcy. She’s been trying to rebuild her credit but even stores like Kohls turn her down.
Recently, we received a pre-approved Visa app for $200. It seemed like a legit offer. In hindsight, the offering company, CREDIT ONE BANK, is virtually nonexistent.
What’s worse? Even though it was pre-approved, nothing happened. It created the worry that it was some sort of SCAM to harvest social security numbers.
AND, the fine shows, if approved, the interest rate would be 23.9%, the enrollment fee is $69 and the annual Membership Fee is $69, and there is a $3 monthly fee forever until you pay all of the fees, not counting the $29 late payment fee.
Scammed and double scammed.
http://img106.imagevenue.com/img.php?image=86718_CreditOneBank_6sanitized_122_794lo.jpg
http://img189.imagevenue.com/img.php?image=86720_CreditOneBank_TERMS_9obverse_122_7lo.jpg
heyteach posted: 17 Aug at 2:52 pm
That was a “secured credit card.” Read this and you can report it:
http://www.ftc.gov/bcp/conline/pubs/credit/secured.shtm
kissybertha posted: 17 Aug at 3:42 pm
shredd the application and call and cancel now. hopefully she didn’t give out personal information.
hottotrot1_usa posted: 17 Aug at 4:08 pm
I agree that those rates are high, but they aren’t that unusual for credit cards. What’s your question?
A bank can’t be “virtually nonexistent.” Either they exist and you are complaining about high prices, or they don’t exist, and you say its a scam.
Have you talked to them on the phone? Do they answer the phone?
halfthebottle posted: 17 Aug at 5:01 pm
They gave you their terms, it’s up to you to accept or not… Tell Sondra to get a collateralized credit card if she’s trying to build up her credit. I got one a couple of years ago from Orchard Bank (divorce screwed mine up) and am now getting “real” credit card offers, in addition to the flakes like you have… My “favorite”… $250… but only $71 credit once they take out their “fees”… yeah right! I have $1000 in credit now, including Orchard… more than enough to allow me to rent a car/hotel/etc…. not enough to get in trouble.