• Report: #110168

Complaint Review: Signature Credit Corporation

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  • Submitted: Sat, September 25, 2004
  • Updated: Sat, September 25, 2004

  • Reported By:Alhambra California
Signature Credit Corporation
333 City Boulevard West, 17th Floor Orange, California U.S.A.

Signature Credit Corporation fraudulent "too-good-to-be-true" advertising Orange California

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I received Signature Credit Corporation's letter today. Since the terms of their credit card were "too good to be true" I decided to do a search immediately on the web. My search directed me to this website first. Too many people had my same reaction.

I was "pre-approved" (Approval Code # 371-035-013924-2011-01) for a $10,000 credit line with "no applications and no other credit checks necessary." I have a 600 FICO score (Equifax) and I have had to beg credit card companies for a card with a credit line. Most have turned me down, but 3 credit card companies did offer to extend me their credit---only $300. Why would Signature Credit offer me $10,000?

The interest rate offered is 0% until September 2006 (two years!) and only 5.9 % thereafter. My three existing cards have rates on new purchases of 19.75%, 19.83%, and 22.10% respectively. I couldn't get them any lower because of my credit score. Why would Signature Credit offer me a zero percent rate?

Finally, Signature Credit asked me for a $59 annual membership fee up front. My credit cards have annual membership fees, but the amounts, which range from $59 to $100, are billed one month after inception to the credit card. I did not have to pay a fee up front.

I am angry because I was defrauded by another rip-off companies, RX Financial who promised me a $5,000 Visa Credit Card if only I would pay them $259 up front. I made the mistake of trusting them by giving them my bank account number. Money began dissappearing from my checking account month after month in nominal amounts ($19 here, $29 there...etc.). I am not going to take this crap anymore! Count on me being there for a class action suite or a protest in front of their office building.

Linda
Alhambra, California
U.S.A.

This report was posted on Ripoff Report on 09/25/2004 07:49 PM and is a permanent record located here: http://www.ripoffreport.com/r/Signature-Credit-Corporation/Orange-California-92868/Signature-Credit-Corporation-fraudulent-too-good-to-be-true-advertising-Orange-Californi-110168. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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