Credicorp Inc., Misleading Credit Card Offer *REBUTTAL

I got the the credit card offer in the mail today and it sounded wonderful - I had taken bankruptcy a few years ago and I thought this would be a good way to get my credit back in good standing. I wasn't convinced that this could really be true so I looked up on the internet and it took me a few minutes before I found this website about the false advertising - I am so thankful that I checked out this company before I wasted my money on them. Just for curiosity sake, I went the website that showed what they were really giving you and I was shocked that they could get away with this kind of false advertisement, you would think that this would be illegal! I want to thank the person that started this website to warn innocent people of mis-leading information. Thanks again!! For anyone else that reads this and has received this same offer, please read this website before you make a decision. Also, thanks for the opportunity to give my opinion and my experience.

well i first got this pre-approved letter in the mail saying that i was pre-approved for $10,000 platinum CREDIT CARD.Im young married and have 2 kids just starting out i dont work my husbad is the soul provider in this family and he only makes enough to get by, my credit is not the best so i got very excited when i saw this.... so i sent them a check for $37.00 like they ask you to. i was planing to pay of alot of debt with this "CREDIT CARD" so i would have just one credit card bill. So as time goes by i ster go get this bad feeling that something is not right whit this "CREDIT CARD" thing its beena little over 2 weeks and no responce from Credicorp. So i go on-line to see wha i can finde, and to my suprise its a scam. i came across this lovely websight telling me all the bad things they have done to everyone and now i am part of that group. Well i was so mad whin i found out, i found thier phone number on a websight, and i called them to finde out why i havent go a "CREDIT CARD" yet and they told me it wold take 10-14 days to get it since they maild it on the 23 of Dec so i said ok and hungup and then i still didnt feel right so i called them back and i told them i wanted to cancell my account and that i wanted my money back. Thier responce was that thet cant do that over the phone and that "I" would have to send them a letter telling them why i wanted to cancell my account along with the "CREDIT CARD". I told them why cant i cancell over the phone? Any other credit card company would let you cancell over the phone. ther resonce well we arnt those companys, and they just hungup on me. So if i dont get my card by next week im going to go to a lawyer to see what can be done. im pritty sure that what thye did is false advertisment. so if you ever get a notice saying you have been pre-approved and that you need to send them money to start your account DONT DO IT ITS A SCAM. you should never have to pay a credit card company to open a account.

I am trying to rebuild my credit so when i recieved this pre-approved notice offering me 10,000 in credit and asking me to send in $37.00 i was very excited, but something told me to look them up on th internet so i typed in credicorp.com amd came up with nothing so i searched the web and the second wed site come up was this and am very happy that people are trying to make everyone aware of this fraud.a
And if we all report this to the proper place
we will stop this from happening

If it isn't a major company that you at least have heard of before, then don't even think about it. The letter I got was xeroxed and there was no way I fell for it. I looked on the net and found this site full of this scam

I'm also 18 years old, and my Fiancee is 19. We live together and being so young we recently ran into financial trouble! So we tapped out all our resources trying to find a loan from a bank, or other companies. Not having much credit, that was impossible. And further more, we don't get approved for any credit cards over $500. So when I got this letter in the mail, I was a little hopeful that maybe this could help us out.

When I looked over the paper I noticed it was really shady, There was no contact information, number or address. NOTHING! So i decided to research it on the internet. I didn't find any website that led me directly to them. And this is the website that I found. To my surprise, being nieve and all, I found out this is a scam. I'm so glad I was warned. I read though almost all these commentaires, and for my own good, and obvious reasons, I dedided not to accept the offer. In fact, I plan on using their reply envelope to send them a copy of the information i found, including my own resopnse!

This is regarding the Credicorp letter I just recieved today. I am ashamed to say that my eyes lit up with such happiness when reading this letter. I even said to my husband, we can have a really good Christmas for the kids now. But when he read it himself, he said something is not right?! Thankfully enough we have the internet now and we decided to do our own research on the company! Even though I don't know what they sell or what they're products even consist of, I am so glad that I didn't send them any money. It just makes me so sick to think that being almost fooled by this advertisement myself, that it preys on all the unfortunate that don't understand or have the resources to research Credicorp. I just want to thank whoever is in charge of this website and all the people who spoke up, because if not for you my credit could possibly have gotten worse and my family would have probably no Christmas at all. So Thanks!

After receiving one of the "infamous" Credicorp letters in my mail box, I read the small print. I had a "funny" feeling about this notification. So, I went to the Internet. After looking at THEIR website, I then went to your website, which confirmed my suspicsions. I also checked with the Better Business Bureau. It was extremely helpful and reinforced what almost ALL of you have said. Thank you for this webite and helping us to make informed decisions.

Did anyone, honestly, ever hear of a company called "credicorp"?? No, I haven't either, lots of similars, but no "credicorp"!

A $10,000 credit line, when you know you don't have great credit; sound too good to be true? You betcha! Then they ask for your $29.95, or $37 -in advance-of course! That's the first clue.

Second clue-at the top, right side of your letter, it says "Bank affiliation: NONE"!! That's all you need to know; it now goes in the shredder!

Just read the small print and don't get hooked. Of course, you can always send them back their own junk, in their own postage paid envelope! That's even better!!

Dear Everyone,

I like many have recieved this advertisement requesting that I send my $37 for a pre-approved creidt limit of $10,000 in the form of a Platnium card. It distresses me immensely that here is a company that is to basically get rich at the deception of others. What really concerns me are the amount of disabled people out there that are recieveing such advertisements that have not the ability to distinguish between fact and fiction. Its bad enough that there are many well educated persons that are duped into this scam of thier Platnium card. Which actually is not specified as either Visa nor Mastercard in the leaflet.

I as a consumer am outraged that more controls cannot be put in place that when money is requested up front they must include all the information pertinent to whatever it is they are selling.

I urge everyone to contact their local, state and national reps in order to let them know that we wish stronger and more accoutnable laws for those who wish to take advantage of our public.

I for one am also sending a copy of this letter back to CrediCorp inc and let them know how I feel in fact it may be a bit more lengthy than this statement.

I also commend this website for its ability to allow the public to research such companies, for that I thank you.

I just got this "to good to be true" offer in the mail yesterday (mine, however, was for a PLATINUM card, not GOLD), wrote a reminder on the envelope to check it out on the web...there were just too much uncertainty dancing around my mind for me to just do it. To name a few:

(1) Platinum Card Membership with exclusive benefits. I'm working on putting my credit back together, but PLATINUM??!! C'mon...
(2) after sending in a $37 annual fee, I will get "guaranteed pre-approval of a $10,000.00 credit limit valid exclusively toward all credit purchases from credit provider". and
(3) no phone number to call them -- somehow I don't think the Transunion number included in the really small print counts...it's "to be excluded from such credit opportunities in the future."

I think I'll just shred the thing up in my cross-cut shredder (maybe even send it thru a couple of times) & return said pieces to them in their own postage-paid envelope...

It's the very least that I can do...

i was skeptical also when i read this offer, it sounded pretty good (too good as a matter of fact).

one of the things i noticed which i didnt read in other warnings about this offer is that i didnt see any credit card disclosures as in other offers, that get mailed to me. such as late fees, overlimits fees, etc.

they offered to little information, for them being good, but for the consumer when you receive such offers we are usually inundated with overwhelming information.

I also noticed the aloted time for return was rather soon, not giving the consumer enough time to think about it,

i hope others consumers dont get fooled by these deceptions, i hate to see honest people get taken advantage of.

i wish there were simpler channels that consumers could use to report these scams and action be expidited quicker before they continue to get richer, this disgusts me

I thank all for participating in this rip off scam info that credicorp has tried to lure people in and because of that you have help me not to fall in that trap and I find sometimes you have to read between the lines when you get scam credit offers in the mail because this could very well be me so I thank you again for informing thousands of people like myself.

Maybe new style-looks like an invoice that states SEND- then expiration date-then Approval #- then Gold card limit- then Amount Due-then Signature line. Looks just a standard mailed invoice that folks would just pay thinking its from a collection agency. Think its planned that way. And just because of this I would never do business with them. Shows me they cant be trusted. They may be good or they may be bad but this mailing tells me theyre BAD...

To who it may concern, about credicorp i do have received this letter on how to get 10,000.00-dollars gold card , for only 37- dollars Hahaha.
I first decided to check it out and seen there was more negative advantages to this than positve ones so for me to take a chance on these people, you got to be kidding i dont think so.

Therfore i am writtng this letter to tell you the shredder is the file for this one and please if you are going to be legitament, do get a affiliation with a bank first therefore you will have FDIC insurance for one and too You got the bank backing you .

Also who ever gets this memo from credicorp i like to give you some advice check them out first with the better business bureau you be glad you did.

my first thought was," they say if it sounds too good to be true, it probably is!"
so, I am grateful for having the insight to get on line and check them out. yes, a company has a right to solicit customers for a creit club, if you will, but they don't have a right to mis-represent and mis-lead people who are already vulnerable and compromised financially.
When in doubt, go without!
i'm glad I checked out your site,

Okay, I did go to the company's web site, and now you get to preview the catalog.

Here's one thing I found...

Credicorp is selling a 6,000 btu window air conditioner for $399. This unit has two control knobs one for fan speed and one for temp that has no specific temperature markings.

COMPARE TO THIS:

At Wal*Mart, I purchased a 5,600 btu window unit with touch panel controls allowing you to set a specific temperature, it has a sleep after and start up after timer function, a remote control, and is manufactured by General Electric. Now, I bought this at my local store, so no shipping charges (which are not included in the $399 mentioned above, but are also not sited in the catalog for Credicorp). This unit cost me $98.

So You can send them $37 (the fee went up) to buy things at 12% interest that are marked up signifigantly from a realistic retail value, THEN pay shipping nd insurance on them, OR you could save your money and buy from a reputable company.

I, personally, would rather pocket the $201 + shipping and insurance and not pay 12% on any of it.

this CRDICORP promised me credit card 3 years ago , they took my money and nothing I gat from thme
I was not able to reach them

this year they sent me another adertienment in whcih I ahve to apy them $ 37 to get $ 10 000
credit card

I lost my money 3 yaers ago and I know I will loss it again but I send it to them

the point , this scam collected millions of dollars and no one stopped them

I am here reading all of these lovely comments, because I, too, have gotten this letter for a "gold card membership". I was extremely cautious, as I am with any credit offer.

My credit isn't good, and I am making a concerted effort to improve it. It wouldn't be in my best interest to fall for every gimmick in the book. This is a gimmick. There are word plays in the letter. It carefully dances around the credit card thing.

It doesn't come right out and say what you get $10,000.00 towards, but I knew it wouldn't be a credit card.

Buyer beware! Remember the main rule of thumb:
if it sounds too good to be true--it usually is.
There wasn't even a phone number to contact--that was a HUGE tip-off for me---please be careful--it may be a deal for some but others, looking for some relief from credit card debts....this would be a nightmare.

I too recieved a letter from this CrediCorp about a credit card. I think that the things that gave it away for me was the fact that they had no bank affiliation and they themselves were the credit provider and the fact that they used commas in place of decimals or dashes to break up the numbers for the approval number as well as the Office use, the offer expires on 4/14/04, they wanted me to send $37 too. I'm glad I did some research, things just didn't feel right, so look at your papers very carefully & beware. Thank you.

i sent in my money on march4, 2004 and it's of most and month now and i want my $37.00 dallors

Thank you to the people who stick together and warn us of these dead beat abusers who take those of us who have found hard times and are trying to rebuild and just want to drag us back down...those of you who love this company either have a huge shopping addiction or will be in worse credit standing by this time next year dont be so hard willed and take the advice of others......DONT DO IT.............

i also recieved a letter from credicorp , but if i send them $37.00 dollars they then will send me golD $10,000.00 CREDIT CARD I DONT THINK SO, if you are getting these offers in the mail asking for anual fees first and by a certain date like two weeks its a scam call your better business office, o your att.generals office to report these scams. also at times tell a news reporter lets them be known an top theses bastards . thank you

This is not the real Credicorp. Credicorp LTD, based in Lima, Peru and traded on the NYSE as BAP,operates in Latin America as a holding company and financial trading company. This company, out of Dallas, TX, Credicorp, Inc. is a catalogue credit merchanising outfit with no reputation and with no bank affiliation.
The Credicorp name belongs to the outfit in Peru, who should sue this one for the unauthorized use of its name. Do not confuse the two. I consider the latter a scam.

Puerto Ricans who have recently gotten this "Scamogram" should immediately report this to the US Postal Service, the Commonwealth of Puerto Rico Division of Consumer Relations and to the local branch of Credicorp, LTD in San Juan.
Beware!

I am only 18 years old and i am in the position where I am eager to get my first credit card. I have called a few banks and other fanancial institutions but have been told to wait until I have become more advanced in the whole credit scene. However I received a brochure in the mail a few days ago that I am eligible for a credit card and that I sholud submit $37.00 in either cheque or money order. I was really elated at first and then I forgot about the whole thing. Today in the mail I got a huge envelope with stacks of catalogues and paper. To my surprise this was not a credit card but a scam. To me it is OK to make an honest advertisement and have people join for their free will. I find it bizarre that one would have played a scam like this on society. Do you not think about your company's reputation?

Yes, I received the Credicorp advertisement and because it requested money up-front, I checked the internet to see if they were authentic. I'm so glad that I saw the warning about this company. I felt so stupid, because the advertisement is very misleading. The fact is, I'm not interested in a Gold card, but I am interested in a Visa. They have no intention of issuing you a Visa, so it is definately a trick. My experience with these types of organizations is negative. One such organization, very similar in nature, deducted money from my checking account ostensibly for a members' "benefit" package. I still can not figure out what the benefits were, but it was basically the same thing -- discounts at hotels, except the hotels never heard of them before.

In short, the problem is that they continue to bill you for the service, and if you don't renew, they pursue you as a "bad debt." I can not begin to tell you how much money I had to spend and time in order to get this straigtened out. All I can say is thank you for putting these web sites up and letting people know that these types of organizations exist. Any organization worth its weight, will allow you a trial period without spending a dime. So, buyer beware. Incidently, someone did file a lawsuit on this organization Avca and they had to repay every dime they stole from consumers, included me. I got a $284.00 check (they had been taking $5.00 a month out of my checking account for over 2 years). Like the Attorney said, they have the right to try to rip you off, guess that's covered in the First Amendment too -- right up there with Porn.

Thank you.

A grateful non-customer of Credicorp.

Yes, I received the Credicorp advertisement and because it requested money up-front, I checked the internet to see if they were authentic. I'm so glad that I saw the warning about this company. I felt so stupid, because the advertisement is very misleading. The fact is, I'm not interested in a Gold card, but I am interested in a Visa. They have no intention of issuing you a Visa, so it is definately a trick. My experience with these types of organizations is negative. One such organization, very similar in nature, deducted money from my checking account ostensibly for a members' "benefit" package. I still can not figure out what the benefits were, but it was basically the same thing -- discounts at hotels, except the hotels never heard of them before.

In short, the problem is that they continue to bill you for the service, and if you don't renew, they pursue you as a "bad debt." I can not begin to tell you how much money I had to spend and time in order to get this straigtened out. All I can say is thank you for putting these web sites up and letting people know that these types of organizations exist. Any organization worth its weight, will allow you a trial period without spending a dime. So, buyer beware. Incidently, someone did file a lawsuit on this organization Avca and they had to repay every dime they stole from consumers, included me. I got a $284.00 check (they had been taking $5.00 a month out of my checking account for over 2 years). Like the Attorney said, they have the right to try to rip you off, guess that's covered in the First Amendment too -- right up there with Porn.

Thank you.

A grateful non-customer of Credicorp.

Yes, I received the Credicorp advertisement and because it requested money up-front, I checked the internet to see if they were authentic. I'm so glad that I saw the warning about this company. I felt so stupid, because the advertisement is very misleading. The fact is, I'm not interested in a Gold card, but I am interested in a Visa. They have no intention of issuing you a Visa, so it is definately a trick. My experience with these types of organizations is negative. One such organization, very similar in nature, deducted money from my checking account ostensibly for a members' "benefit" package. I still can not figure out what the benefits were, but it was basically the same thing -- discounts at hotels, except the hotels never heard of them before.

In short, the problem is that they continue to bill you for the service, and if you don't renew, they pursue you as a "bad debt." I can not begin to tell you how much money I had to spend and time in order to get this straigtened out. All I can say is thank you for putting these web sites up and letting people know that these types of organizations exist. Any organization worth its weight, will allow you a trial period without spending a dime. So, buyer beware. Incidently, someone did file a lawsuit on this organization Avca and they had to repay every dime they stole from consumers, included me. I got a $284.00 check (they had been taking $5.00 a month out of my checking account for over 2 years). Like the Attorney said, they have the right to try to rip you off, guess that's covered in the First Amendment too -- right up there with Porn.

Thank you.

A grateful non-customer of Credicorp.

Yes, I received the Credicorp advertisement and because it requested money up-front, I checked the internet to see if they were authentic. I'm so glad that I saw the warning about this company. I felt so stupid, because the advertisement is very misleading. The fact is, I'm not interested in a Gold card, but I am interested in a Visa. They have no intention of issuing you a Visa, so it is definately a trick. My experience with these types of organizations is negative. One such organization, very similar in nature, deducted money from my checking account ostensibly for a members' "benefit" package. I still can not figure out what the benefits were, but it was basically the same thing -- discounts at hotels, except the hotels never heard of them before.

In short, the problem is that they continue to bill you for the service, and if you don't renew, they pursue you as a "bad debt." I can not begin to tell you how much money I had to spend and time in order to get this straigtened out. All I can say is thank you for putting these web sites up and letting people know that these types of organizations exist. Any organization worth its weight, will allow you a trial period without spending a dime. So, buyer beware. Incidently, someone did file a lawsuit on this organization Avca and they had to repay every dime they stole from consumers, included me. I got a $284.00 check (they had been taking $5.00 a month out of my checking account for over 2 years). Like the Attorney said, they have the right to try to rip you off, guess that's covered in the First Amendment too -- right up there with Porn.

Thank you.

A grateful non-customer of Credicorp.

I am a company owner looking to establish credit for my new business. I received the offer from Credicorp, Inc. and thought that this was my chance to build some credit. I signed and inserted the paper work and waited to fill out a check.

Some thing inside of me told me to search the web on this company and I did. I found nothing but negative comments or more negative then good. I found myself at their web site, how pitiful it was.

For a company that is offering thousands in credit limits for cheap out dated stuff, you would think they could afford a proffessional web site. If you cant afford to have nice webspace, other than what the manager built in his office on "Web sites for Dummies", then your not very worthy to me.

I sent back the application in their pre paid envelope torn to peices telling them to scam someone else and that the web is a great place to research companies like their own trying to scam people.

I can not stand such miss-leading advertisement.
Maybe it is a legitimate company and maybe not.
However, the advertizement reads to make you think
it is a visa or mastercard. Why cant anything be
done about this type of advertizedments.

I can not stand such miss-leading advertisement.
Maybe it is a legitimate company and maybe not.
However, the advertizement reads to make you think
it is a visa or mastercard. Why cant anything be
done about this type of advertizedments.

I can not stand such miss-leading advertisement.
Maybe it is a legitimate company and maybe not.
However, the advertizement reads to make you think
it is a visa or mastercard. Why cant anything be
done about this type of advertizedments.

I did what everybody eles did and ordered this so-called credit card and I sent back my memebership book and never received a refund. Now a year later they sent me a bill for a yearly memebership fee. I have written them to let them know I will refuse to pay for this for I cancelled and sent back my memebership. Please be careful, they will continue to try to bill you for thier services.

the wife and i thought it was a great deal with credicorp, so we sent our money for the membership and we got ripped off, now we would like our money back.

I am an attorney and was presented with the same offer. After reading it the first time, I believed that the credit card issuer was in fact issuing a Mastercard or Visa. After reading it carefully a couple of more times and doing a little web research, I determined that this is nothing more than an offer for a credit card for a department store, like Macy's or J.C. Penney's.



There is nothing wrong with a company offering its own credit card, like here. It is just the method it chooses to do so. In this case, the company, Credicorp, Inc. is walking, and may have crossed, a very fine line regarding deceptive advertising.



Credicorp makes it appear that you will receive a $10,000.00 Gold Mastercard or Visa Card by starting its pitch with those two card service companies, and then following up with the words "you have been Pre-Approved for a Gold Card".



It is not Visa or Mastercard who determine your credit worthiness, but the issuing bank. There are banks that specialize in repairing damaged credit by issuing secured or monthly payment charge cards.



That is the first impression of this advertisement. Since all such advertisements and "Pre-Approvals" must be accompanied by certain information, and this one does not, it can be a violation of the laws of several states.



Whether or not the company provides good or bad products, it may have the best intentions and products, it is how this advertisement is presented that is the problem.



The initial complaint writer is proper in assuming the worst about a company soliciting business in this fashion regardless of the quality of product the company ultimately offers. If you have to do research just to find out what is being offered, then that is a problem, and a person who declines the offer and complains about it is doing a public service.



I too would decline the companies offer and report it to the proper authorities. Perhaps they would only require a change or more information to be provided with the solicitation. Or the company could be fined or prosecuted for violating the laws about controlling such solicitations.



It is the duty of ever recipient to review and report such misleading solicitations. That is what got the laws changed in the first place.

My wife recently recieved the mailgram from Credicorp here in Puerto Rico. I know she won't be the first or last to recieve this. But thank God I am a consumer who likes to do research before submitting any info to anyone. Thank goodness for the internet since this is were I first begin to do research on this company, and boy was there info on this company. Keep up the good work and thanks for the heads-up. I just hope others will investigate this before it's to late. I will try to advise my friends on this and were to look for the info. thanks again

This email is a rebuttal to RipOff #4812.

It was sent by John Segal at birdie@boardermail.com.



Credicorp Inc., Misleading Credit Card Offer *REBUTTAL (#4812)



They filed the following rebuttal to the above Rip-Off Report:



Their email: birdie@boardermail.com

Their name: John Segal

Their relationship to the company: Consumer Suggestion



Rebuttal:



This person is whinning about nothing here. He himslef states clearly what Credicorp had to offer him. But he didn't chose to accept it so, why is he/she so upset? HE DIDN'T EVEN TRY IT! I also go the same letter from Credicorp and there was nothing misleading to me. Anyways, I just think that this person missed out on a chance to get himself some gifts without having to add to his credit card debts. It's really a good deal and has been very good to me.

From:

Date: Mon, 4 Jun 2001 13:24:48 -0700



This email is a rebuttal to RipOff #4812.

It was sent by Joyce Wilcox at joyjoy@apexmail.com.



Credicorp Inc., Misleading Credit Card Offer (#4812)



Their email: joyjoy@apexmail.com

Their name: Joyce Wilcox

Their relationship to the company: Consumer Suggestion



Rebuttal:

I have aslo received this same offer from Credicorp last year. At this time, I was struggling to get some money from numerous banks but without success. My credit was unacceptable. So really, what happend was I ended up as a Credicorp member out of necessity.



I went online to do some research about Credicorp and not surprisingly found mostly negative comments on them. The reason I didn't give into all the negative slanderings is that I believed that there had to be some benefit to becoming a member since there were good comments about them as well. Afterall, people today tend to defame and belittle companies for

whatever reasons. I just didn't wanna be a cynic about the whole thing, and besides I was not in the position to be picky. So I sent in my $29.95 in the mail and received my membership package a little later.



I feel that I need to back up Credicorp against all these rip-off reports against them. All the merchandise that I have bought so far have been more than affordable. Buying is easier for me now than ever...$10,000 credit limit with 12% APR, small monthly installments...it's a great deal! I'm just glad that I took a chance with Credicorp and I hope that my experience will help you out in a positive way.