I received in the mail a simple application form and on it it says you are pre-approved for a masterCard, just call the 800 number. I called and the process seamed normal, they even say hold a minute to be sure you are approved. Yes you are approved. This is great right? Then you get the card and it has a $325.00 credit limit that you already owe over half of it. This is not disclosed in the application process like they claim. (Why would you do it?) The card comes with the Credit Card contract and and "Initial" Disclosure Statement. On your sheet the card comes with it says 1) Credit Limit $325.00 2) Initial Fees $179.00 3) Available Credit $146.00 4) First Payment $25.00. So you get a card that is more than half used up and you already owe them money, you haven't even activated the card yet! Even when you try to cancell they pass you to some one else, that keeps repeating you knew this when you got the card. BS! A couple of days later you get your first statement with a break down on the $179.00 you supposedly agreed to. 1) Program fee $95.00 (finance charge? 2) Account set-up-fee $29.00 (finance charge) 3) Monthly servicing fee $7.00 (finance charge) 4) Annual fee $48.00. All these finance charges and you haven't even used the card yet. THIS IS A TOTAL SCAM, and will be reported to the South Dakota Attorney Generals Office.
0 comments