I am a lowley 19 year old who is not in school and has no credit history. I was surfing the web one day to find out how I could possibly get a credit card in my situation. Then I came acroos what I thought was the solution.
An online business called "allpreapproved.com" seemed like the answer to my prayers. They promised that for a one-time fee of $49.95, that they would directly debit from my checking account, I would recieve AT LEAST 3 offers from different credit card companies within the first month. So I signed up and sure enought they took the money out of my account and a few weeks later I began to recieve credit card offers.
The first two I recieved on the same day, one from some company who actually sent me a card and all I had to do was activate it, but looking through the material I decided that it wasn't worth it because all you can use it for was products out of their catalog. Cut it up and through it away. The second was a piece of paper from PEOPLE'S CREDIT FIRST offering me an unsecured card with a $5000 limit for a one-time fee of $49.95.
At first I decided to take them up on it and wrote out the check. A few hours later I came to my senses and relized that I would have to be insane to accept a card with that kind of credit limit... So I voided the check and threw the info away.
The following week FIRST CAPITAL CONSUMERS GROUP called me and offered an unsecured MasterCard. My story with them is just like all the rest, so be warned that it is true what you hear.
Since "allpreapproved.com" started this whole mess I went to the site to see if I could get a refund. They had an offer for a 200% money back guarentee if not completely satisfied. GREAT! But guess what... THERE IS ABSOLUTLY NO CONTACT INFORMATION!
In short I am out some cash, I have to close my checking account, and my social security number is floating around in cyber space. If you are young like me don't be naive. A good way to start building credit is to have your parents put you on their credit cards and start building credit that way. It reports back in your name that way in about a year you can have your own card.
Be careful what you sign up for and never give your ss# out on the net!
Been Had Several Times
Vienna, Virginia
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