I have not been ripped off by this so called credit card company. I did get my letter that guaranteed a generous credit limit for a small processing fee. So I read the letter and saw many red flags that sent me to the internet in search of information on this company.
The first red flag was the tricky wording. First, they would send complete details for my "membership" with my platinum card once they received a $45.00 fee. Why would they need a fee if they're going to earn interest off of my purchases? I flipped the letter over and there was no listing of an APR or terms. Hmmm. I also noticed there was no space provided for me to fill out pertinent information such as SS#, annual income, balance transfer amounts, etc.
The paragraph that really got me was the one that states that I may use my platinum card immediately upon receipt for "all purchases from the credit provider". It's easy to see how someone would overlook this deceptive wording. I had to re-read it before the red flag waved in front of my eyes again.
There's no number to call for instant approval, no disclaimers, nothing that you would find on a legitimate pre-approved credit card application.in fact, this is not an application at all. It's a fee paid membership.
It states in small print that no application or credit check is necessary when the cardholder signs the acceptance certificate. No credit check? It then tell you to see the terms and conditions included in the membership package. Wouldn't they want you to see the terms and conditions first so that you can make an informed decision? Apparently they only want uninformed members. I would personally never sign anything without FIRST seeing the terms and conditions.
They wanted a check or money order for the fee. I suppose a money order would keep the checking account safe (for the time being) from unauthorized debits. But once the first payment is made with a check, there goes your account information and money right into their hands.
I have to admit that at first I was excited about this offer. I did file bankruptcy last year and I am trying to re-establish my credit. Fortunately there are legitimate companies out there that do help you do just that. This company is not out to help anybody but themselves.
Brenda
Anniston, Alabama
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