Sun, July 07, 2002
This is definately one of the oldest scams, unfortunately, they get away with it for a period of time. Their best clients are those of elderly age or someone that they've illegally brought their credit information and think that they can get over on them.
First, any credit card company that calls you saying, "Your approved for a credit card." and openingly gives you an amount of credit without getting your information first is definately a scam. These companies last from 3 to 15 months, and disappear with all your money. Somehow, they get your information, (usually they buy it from the MVA, believe it or not) then they look your credit status up and make a choice rather its worth their time or not call.
Even though you didn't authorize to take your money 'til a later date, don't be surprised to find it already gone. If you can get a hold of them, and they haven't taken your money yet, tell them that you want to cancel the original agreement for this line of credit, this sets them up for the next part. You need to get information on them now. Next, ask them to send all this in writting to you. They will tell you that they can't do that, they are only offering this deal via phone (that's the next clue that their a scam). After they decline (they will), ask them if you can send the initial payment for your line of credit, tell them you need their mailing address. If they decline, sometimes they will, go online and search the phone number you have, you'll get their main address (cyberspace is great, huh?).
This is when you get even. Take the information that you now have and send it (either via mail or complaint forms on the followings websites)to all government agencies that will help stop their scams. Credit card scams are most important for these agencies to stop. Send to the following: 1)The attorney general of the state in which they are found in. 2)Your attorney generals office. 3)The FTC. These agencies will also send you a letter or e-mail as to who else you can contact to help you.
I had a company just like this call me about 4 months ago, I did the above and they were stopped by 3 or 4 weeks. Unfortunately, so many people have already been screwed by this/these companies scams. Sad but true.
Sat, July 06, 2002
Monday morning go to your bank, report the fraud. Your bank will be more then familiar with these kind of credit card scams. These scammers never wait for the "authorized" date with the withdrawal. If they already debited your account, your bank can help you to get back your money. (They will give you a dispute form.)
In any case CLOSE your account before they hit it again and again with different amounts, under different names. (Read other credit card scam RipOffReport posts.)
For the future: never accept any financial offer over the phone. Request the offer in mail. Even if they are from legit bank, there is no way to get the fine print during a 5 minute long call.