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!
More Credit-Related Scams
Many states have passed laws regulating credit
repair companies. This may help if you have lost
money to credit repair scams.
Even if your state has no such law, you still
may have legal rights against the company. Plus,
by reporting the incident, you can help ensure that
others aren’t victimized.
If you’ve had a problem with a credit repair
company, don’t be embarrassed to report it or
assume it’s not worth your time. Contact your state
Attorney General’s office and local consumer
protection agency. You also may write to the Federal
Trade Commission. While the FTC does not handle
individual cases, it can act when it sees a pattern of
possible law violations develop.
Office of Attorney General
Bureau of Consumer Protection
14th Floor, Strawberry Square
Harrisburg, PA 17120
If you are
Credit by Phone
Pay-per-call or “900 number”
services have become a popular vehicle
for phony credit schemes. Television or
print ads promise that “guaranteed” credit
or cash loans are only a phone call away.
Instead, the caller might receive a list of
banks offering low-interest credit cards
or a booklet on how to establish credit.
Such calls can end up costing $50 or
more, but consumers rarely end up
getting credit as a result. Be aware that if
you call “900” or “976” exchanges for
information, you will be charged for the
call - even if you decide you don’t want
what the company is promoting.
If you are temp