I have questionable credit, but the card being offered has a high limit and relatively low interest rate. Is this a scam that anyone has heard of?
2006-10-11 00:23:18 · 8 answers · asked by Joe Schmoe 2 in Business & Finance ➔ Credit
It may not be a scam, just another credit card offer to get your money in their pocket.
Be very careful of any unsolicited credit offers. Do some internet research on the company and the card.
And consider not adding any more credit problems to your financial goals. You really only need one credit card - yes, ONE - everything else is just "fluff" you've convinced yourself makes you look "successful".
Good luck...
2006-10-11 00:27:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Don't do it!!! Usually when it is a credit card over the phone they would want your bank account info so they can Automatically withdraw their "onetime processing fee". Especially if it is a very high limit, and if your credit isn't good(if this is the case) Best thing to do is not even start with a credit card at all. It creates too much of a problem and can really screw up your credit. It happened to me a 200.00 credit limit ended up costing me over 700.00 with late fees and ebing only able to make min payments i fell behind even more. Never go with any other type of credit card unless it has the visa MasterCard logo on it.
2006-10-11 00:36:21 · answer #2 · answered by Anonymous · 0⤊ 0⤋
i wish you probably did not supply them any very own documents. You in no way understand who you're speaking to on the telephone. there may be mastercard companies offering enjoying cards over the telephone, yet there are much extra scams obtainable. in no way purchase something from a stranger on the telephone or on the front door. you will avert all varieties of problems.
2016-11-27 21:08:18 · answer #3 · answered by dufrene 4 · 0⤊ 0⤋
I would never give personal information over the phone. I had this happen to me once and the people on the other end swore up and down that I had applied for the card, and I knew that I didn't.
I always ask them to send something in the mail, then I research it further to determine if it's valid or not. I look at the address on the letterhead, call the phone number, then I look it up on the web and see if all the info is matching.
By the way, when I asked the company that called me to send me something in the mail and I would decide if I wanted their card, they never sent me anything back !
2006-10-11 03:34:45 · answer #4 · answered by Big Bear 7 · 0⤊ 0⤋
yes in a way. if you are susceptible to a "come-on" because it has a high limit and low interest, then you should stay away from it. in fact, for your own good, you shouldn't even have a credit card. for someone with bad credit, it's like buying a beer for an alcoholic.
2006-10-11 01:57:21 · answer #5 · answered by etilyad 2 · 0⤊ 0⤋
If you are suspicious then I wouldn't trust it if I were you. There are a number of scams out there especially involving your credt card. I'd hold off on that and stick with a credit card company you know and trust.
2006-10-11 00:31:49 · answer #6 · answered by Michael 2 · 0⤊ 0⤋
You'll probably be only able to purchase things from one particular catalogue at high prices. I would beware.
2006-10-11 00:31:10 · answer #7 · answered by tw0cl0n3m3 6 · 0⤊ 0⤋
It probably is. The purpose is to take your social security number and steal your identity.
Report it immediately, and alert your creditors!
2006-10-11 00:32:23 · answer #8 · answered by Anonymous · 0⤊ 0⤋