On July 27, 2005, my husband was contacted by a Jane offering an unsecured credit card with a minimum credit limit of $1500 and more closer to $5000 because we had never filed backruptcy. This was a program designed to help rebuild credit and there would be NO annual fee, NO cash advance fees and they work with major banks like Bank One, etc.
She stated she was contacting us because we qualified for this program based on our credit. As long as the payments were made on time we would get credit limit increases of $500 every six months. He asked her to explain all this to me so we could understand this together so not only was he told all this but she repeated it to me.
We were to pay a one time $319 administrative fee for all the paperwork. I told her I had to think about it. She explained to me that we could withdraw the $319 as a cash advance to pay ourselves back when the card came in. Once the $319 was withdrawn from our bank account we would receive the forms to fill out because they needed a signature to secure the card and we would have that within 21 days and then the card would be in our hands within 7 days after the paperwork was received back.
Jane assured me that this was not a scam because if it was she wouldn't be working for the company. She gave me her Secure ID #312 and told me I could call her if any problems. This transaction was to be recorded because of the strict federal guidelines they have to follow. We were given a confirmation number 2002390 and told we would also receive a free cell phone.
I called back at least once a week and was assured that this was not a scam and I would receive the credit card. After they received our paperwork we were told it was being processed and they were waiting to hear back from the bank.
Finally about 2 weeks later, I was told it was approved and I should be receiving the card within a week. I asked how much it was approved for and was told they are not given that information. When I refered to the $1500 we were guaranteed by Jane I was told that they make no guarantees like that.
She denied everything that we were told by Jane and said that there are managers on the floor and their employees are not allowed to say things like that. I asked that she play back the recording and she first acted like she didn't know what I meant then she offered to play the recording and it had been edited to only contain my authorization for them to withdraw money from my account!
On September 26, I received the credit card: $300 limit with $250 charged to it for account set-up fee, program fee, annual card fee and monthly participation fee. Why would I pay someone $319 for a credit card like this that I could get on my own???
When I contacted my bank they said that if I gave them permission to withdraw the funds then there was nothing I could do about it. Can I get some help here???
Corpus Christi, Texas