Yes, I was approached (via us mail) by Credit One Bank with an approved credit card for up to $1000. I bit and lost over $200 immediately! The cloaked letter said "let us help you repair your credit" by starting with new credit and a new credit history. After I received the first bill I realized that they charged me $75 to open the account as well as other miscellaneous charges.
I immediately called the number on the bill and advised them that I didn't want a card that tried to rip me off for a bunch of miscellaneous charges and service fees. I requested to close the account in which they told me that there would be additional charges to close the account and would take approximately 3-4 weeks to process. They also said that I would still be responcible for all the account fees ($30) while they were processing the account for closure. When I asked for my balance they could not even tell me what my balance would be by the time they processed my request.
What they are counting on is for me to think the account is closed all the while they are charging me during the closure process! What can someone like me do when I am not able to keep fighting rip-offs like these guys?
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