I was called on my cell phone by a company that approved me of a mastercard with a credit limit of $5,000 to help establish credit. I was hesitant but he was telling me all these great things about it including, that the first $300 I spent would not have to be repaid. I thought, "Wow, I can't pass this up!"
Then the important question. I asked him how much this was going to cost. He told me "nothing". He said all they needed to do was watch my checking account and make sure that $299.95, (the minimum payment if the card became maxed out) was in there for 48 hours. I asked him 2 or 3 times if any money would move from my account and he told me "no". So I gave him my account number and routing number.
I kept watch over my account for about 5 days and all my money was there. Then, about a week later, I was on a lunch break and went to buy some lunch and my ATM card was declined and I went to my banks online site and looked at my account. They used an electronic check for the $299.95.
I called them right away and demanded an explanation. I told them what I was told by there representative and asked if what I was told was a lie. He asked, "what is a lie sir?" Then told me to write a letter requesting a refund.
The next morning I called my local sheriff dept. And met with a deputy and let him know who I talked to. Then went straight to my bank and protested the amount. The next day, today, the money was back in my account and I closed that account and opened a new one.
I was lucky because I caught it in time, because I have online banking. I also read, in another report on this company, that if you threaten to inform the New Jersey State Attorney General, they will change there attitude in a hurry.
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