More Credit-Related Scams
"Gold" or "Platinum" Cards
Beware of promotions for "gold" or "platinum" cards that promise to get you credit and build your credit rating even if your credit history is poor. Although they may sound like general purpose credit cards, some of these "gold" or "platinum" cards only permit you to buy merchandise from special catalogs and will not help you obtain credit from other sources. You may also find that ads for these cards direct you to call "900" or "976" exchanges for more information. Remember that charges for these calls add up fast!
Checking Account Scams
One of the latest scams making the rounds typically begins with a postcard advertising easy credit approval or low credit card interest rates. When consumers call, they are asked for their checking account number, supposedly as part of a "verification process." This number can be magnetically encoded on a draft, which is forwarded to the consumer's bank. Sometimes banks pay out hundreds of dollars from the consumer's account, not realizing that the consumer never approved the withdrawal. For your protection, never give out your checking account number or credit card number unless you are certain that you are dealing with a reputable company.
Content Last Modified on 3/15/2011 10:36:25 AM