Report: #110168

Complaint Review: Signature Credit Corporation

  • 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

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

Show customers why they should trust your business over your competitors...

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.

Alhambra, California
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This report was posted on Ripoff Report on 09/25/2004 07:49 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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