Looking Around

Another offer in the mail?

Ok, I can understand marketing your products. I even give a little benefit of the doubt to spammers. But, yesterday I got a letter from a credit card company that left me wondering just how intelligent they think I am. The offer of the century was a pre-approved card for 9.9% interest per year. Ok, for background, I did go through bankruptcy a couple of years ago. I did not go after any new credit cards for a long time. I finally did go after one last year, and got it- it does have and annual fee (one annual fee) and a higher than average interest rate (actually it has an interest rate equivalent to the one being offered to me yesterday). And, it is being kept under control (with Christmas past it got a touch out of control but should be down again by March). I am being much more careful this side of my "problem".

The new offer was for a credit card with a $250 limit- it then spelled out in a small booklet inside the offer some of the fees involved. There was a start of fee of about 30 dollars. There was an annual membership fee of about 90 dollars. And there was a 72 dollar fee for some thing or another. The bottom line here is that just by responding to the offer I was going to be on the hook for about 200 dollars in start up fees. Bam- just like that- I was about to be hooked for more than my current card payment. The really rich part of the scam was that everytime I qualified for an increase in my credit limit- there was a 25 dollar fee to pay.

I started laughing. I put the booklet in my file of things that ought to be against the law and destroyed the rest of the letter and plastic card. I looked very closely to see of by not responding they would be able to charge me anything. Looks like even in Wisconsin things like that are against the law. (yes, I think the offer came from a band of crooks up in Wisconsin but don't hold me or Wisconsin responsible for I am being lazy and Wisconsin is a great state). I am still puzzled as to how they knew I existed- but who knows. I feel very sorry for folks who feel like they need to take these shysters up on this offer. If this was the only credit card I could possibly qualify for- I would be on a cash only lifestyle.

There was no phone number to call or I could have called and just started laughing. I thought about writing the company and doing some sort of similar thing in a letter- "about your offer- hahahahahahahhah!" But, they might have seen that as a response, signed me up and tried to collect 200+ dollars in fees. No, this "offer" is best used for tinder in the wooden stove and lit with a small prayer that no one gets taken in by these crooks. Anyway- enough of that for now. I just can't believe it was a serious cc offer- just a scam.

But, how many other little tricky things are out there waiting for some desperate or gullible person to happen upon them? How many folks read the letter and saw the plastic card, phoned the number, then gasped when the first bill arrived? Where is the service to people? Are we becoming so self serving as a country and society as to allow this kind of predatory lending to go on? I would much rather be turned down for credit (like I was a year ago) have some scam like this played out on me. I realize I have personal responsibility to make some of these judgements myself about myself. Where is the sense of responsibility to banks and Credit card companies to be careful with their money and not lend it to people who can't pay it back? And so it goes.