On the afternoon of July 25, I was contacted by this company. They asked for me by name, and inquired as to why I had not yet returned an application for a $2,000 pre-approved Mastercard. Assuming this was one of the many credit offers I receive monthly, I told them I knew I would be declined because of poor credit. To my surprise, they said that I was already approved, regardless of credit, and that they would be willing to complete the application by phone. Since I needed a credit card for work related expenses (I travel alot), I jumped at the chance.
During the course of the "application" phase, the male caller already had my name, address, and telephone number, though the address spelling needed correction. The caller then informed me that there would be no interest or fees, with an exception being a one time "insurance" fee of $249.00, for coverage in the event I became disabled or otherwise unable to work for an extended period. I explained I did not have $249.00 at that moment, and they kindly offered to take an electronic postdated check for the amount.
At this point, I asked if they could please fax something in writing to me, which he said he couldn't, and claimed they had already mailed something to me (to the misspelled address). I explained I needed to see something in writing, and he said that by the time they did that, the offer would no longer be valid. Not wanting to pass up a good deal, I put my suspicions aside.
I was then transferred to a woman, who claimed to be recording the conversation. She explained again the offer, and said she was completing the insurance portion of the offer. I gave her the required information, which unfortunately included my bank information. She informed me I would receive the card within 30 days of our conversation, and that sometimes it takes only two weeks. She confirmed that the $249.00 would not be taken from my account until August 5 (the next time I was to be paid).
On August 5, the $249.00 was deducted from my checking account. It is now September 1st, and still no card. I contacted my bank this morning, and inquired about the transaction (US Bank). They asked me if the money was for a credit card offer, and I confirmed it was. At that point, the bank representative confirmed what I began to believe a week ago, that I had been scammed
Fortunately for me (and others like me from what I've seen), I have an excellent bank. They have already flagged the transaction as fraud, and in about a week I should have my money back. I may at some point need to close my account and re-open it with a different number (a huge hassle with its own expenses) to prevent the continuation of whatever fraud these people have planned for me, but at least I'm now aware of it and can take the steps to protect myself.
What I've learned is that if I am declined a credit card through normal channels, no one is going to realisticly offer me a 0% no fee credit card. With my FICO being as low as it is (identity theft would actually improve it, lol), any unsecured credit is unrealistic. I also learned that any company that is unwilling to provide a physical address (street, not PO Box) or give you something IN WRITING is up to no good.
These people are very slick, and really do sound legitimate, which is how many of us were taken in by this scam. I stuffed my embarrassment at having been taken in, and am now encouraging others to do likewise. If you or someone you know has been taken in by these criminals, let the whole world know, particularly your banking institution and law enforcement. Since these people want to live off the earnings of others, let them do so behind bars.
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