Join the FTC No-CALL-Registry, and enjoy a reduction in telephone solicitation phone calls.

2. TELEPHONE SOLICITATION:

Believe it or not, the vast majority of lenders out there are legitimate. Also, believe it or not, a lot of these lenders utilize telemarketing as a method of reaching out to potential customers.

1. But beware of a wolf in sheep s clothing. Legitimate Lenders never ask for a processing fee in order to complete your application (this does not include appraisals during a real estate transaction in Escrow We are discussing credit cards here).

2. Keep your personal information to yourself! Don t give out bank information, credit card numbers, social security numbers, etc., to someone you don t know, on a telephone call. Use your common sense.

3. If you don t have the offer in hand, or confirmed in writing, then don t pay. This is fraud. Who is this person on the phone anyway? Get their phone number, their address, their federal tax ID number, and then tell them you ll call back. If they re legitimate, they ll give it to you. If you question them, then I say trust your instincts. You re probably right on target.

Who is this on the phone? Don t trust people you haven t had a chance to get to know. Don t let one enticing offer on a phone call, be your guide…

3. 1-900 NUMBERS:

A 1-900 number is, of course, a phone number that charges the caller per minute for making the call. Whether it s a 1-900 number, or a future manifestation of the same type of telephone service, be wary of doing business this way.

1. The most common Credit Card SCAM, in all of its different forms, is called an ADVANCE FEE LOAD SCAM . Typically, you will find these in the classified section of your local newspapers and trade magazines, and unfortunately, you ll also see them floating around the internet.

2. In a nutshell, the perpetrator will guarantee you a loan, but you have to pay them an upfront fee first. The fee can range from $100 to several hundred dollars. The charges can be extracted using telephone services like 1-900 numbers. Beware of courier services, and transactions that avoid the US Postal service, often conducted so as to avoid detection. The scam is that once the fake company has your money, they disappear from the planet, leaving you a victim of their con. You are out money, and no credit card.

3. Now lets not confuse Advance Fee Load Scam artists with legitimate lenders and institutions. I can attest that there are real companies out there, trying to help you to get the credit, loans, and consumer debt services that you need. I believe in many of these services, and I believe in the convenience and power of the internet. However, use your common sense in all your business transactions in life, and that includes credit. Never give someone money without getting anything back in return. Never trust someone that you don t know. Never get enticed into a deal that s too good to be true.

Use your common sense, and don t fall prey to the con artists slight of hand, such as the Advance Fee Load Scam…

Goodness gracious. Your keen force to examine more would be rewarded further. Your craving for facts might get quenched in the consequent lines.

4. ANNUAL FEES, INTEREST RATES, ETC.:

Credit Card Scams come in all different shapes and sizes. Many of them are, arguably, not scams at all, but let s just call them credit card offers involving consumer unfriendly terms.

1. Read the fine-line. Every Credit Card Offer must provide the Consumer with written documentation on the terms of the offer.

2. Check the Annual Fee, the Interest Rates, the Cash Advance Fees, the Late Fees, and all other terms of the offer.

   c) Make sure you know what you are getting. Some offers are for secured cards, some are for unsecured cards, and some offers are for shopping portals online and offline (Like a department store card). So, while none of these are scams, by definition, it is important that you fully understand the terms of the credit card offer that you are agreeing to.

Be a responsible consumer, and read the terms and conditions of your credit card offer…

5. THE UNITED STATES FEDERAL TRADE COMMISSION::

The best place to go for direct consumer information, protection, and remedy, is the United States Federal Trade Commission…

The FTC is there to help…

SUMMARY:

Use the No-Call Registry to cut down telephone solicitations in your home and places of business. While many legitimate lenders utilize telemarketing, be careful. Don t give out personal information to people you don t know, don t pay up-front processing fees over the phone, and get everything in writing. Consider yourself an advised consumer on Advanced Fee Load Scams, and look out for the signs, when these scams regrettably make their way to you. Read the terms of the offers that you are considering, and utilize the FTC website for trusted information, resources, and all related materials on consumer credit card issues.

We ve enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

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