When I opened my mail today, there were THREE "pre-approved" credit card offers. First National Bank of Marin indicated it had approved me for $800.00 initial limit if I submit my "partial" enrollment fee of just $49 with my complete and signed Acceptance Certificate. It then indicates that the $200 savings deposit, which will secure my credit line of up to $800 would be conveniently charged to my new credit card.
The second one I opened was from Peoples Credit First of Tampa, Florida. I was approved for a "Platinum Card" with a credit amount of $5,000 at an interest rate of 0% for the first 12 months. It did not indicate what type of credit card it was. I called information and obtained a phone number (813) 879-4752. However, this number was continuously busy. I then decided to research the internet. Thank goodness I found this website. It prevented me from being sucked into this rip-off scam too!
The third offer from American Credit Solutions was the most interesting. It was a postcard that reads "We are notifying you that your credit card has not been activated. Our records show this card to have an approved line of credit of $4,000. This may be your final notification. Please call 1-800-564-2517 now for immediate activation. Enjoy your new credit status." I called as I was concerned that a credit card had been mailed and I had not received it, not wanting it to fall into someone else's hands.
The representative instantly began her spill. I interrupted and asked if a card had already been mailed since the postcard indicates it had not been activated. She said, "No, it will be as soon as we complete this process." I answered a few basic questions that included address (didn't they have this since I had received mail from them already), phone number, and yes I do have a checking account.
She put me on hold for a few short seconds and came back, Congratulations, you qualify. You are approved for $4,000 credit limit. Once you charge $99 to this account and make three payments of $33, your credit limit will instantly be increased to $7,500.00. There will be a 0% interest rate for the first 12 months and a low 6% interest rate thereafter as long as you are a card holder. You will receive 50 rolls of 35mm film and a 35mm camera just for signing up today. All you need to do is allow us to draft $199.00 from your checking account to cover shipping expense and your one-time membership fee . . .
I immediately said, "No thanks." She wanted to know why I didn't want to accept this wonderful offer. I told her I had two other fraudulent offers in my hand that would only cost me $49 initially and that I'd rather be out $49 than $200!
Needless to say, the phone conversation ended abruptly, because I hung up the phone. THANK YOU THANK YOU THANK YOU. Due to the valuable information on this website, I am not stuck with a phony credit card with a $5,000 limit to purchase from THEIR catalog!