3 of 15

Write now Article Tools

Oh boy, my luck is going to change. I've just found this wonderful credit company that is going to fix my credit by giving me a credit card and helping me reestablish my credit standing again. I will be able to buy things on credit now. I can place something good on my applications for other things. I will have a piece of pride back in my life and get back to where I was when I thought I could buy anything I wanted. Back then I had the pride, flashing my card and knowing it would go through. These days I pull my card out and pray that I have enough on it for my purchases. It also happens to be a debit card. Oh how I hope to get back into good standings again.

These are the words I stuttered one morning while browsing on-line when I ran across an email that read these very words. No credit no problem. So I filled out the application. In fact I filled out two or three. There was no problem getting the cards. They came as promised. And I sat thrilled but wondering what the catch was so I started reading the fine print. Everything else sounded fine.

As I began reading the small print, it came to my attention that this card was only worth 300 dollars, and after the company would take charges for services out it would only be worth $50 to me. And I would still have to repay the whole $300 back. The other $50 and then the last was for $100. I noticed all of the percentages were high to, they were 19 percent and higher. I could not believe my eyes or that I had fallen for this. Then it said that the charges and percentage rates would raise after a while. I would also have to pay 50 instead of the $20 dollar monthly fees. They would also not raise your limit for at least six months to a year or even longer depending on how you made your payments. I learned quickly that this was nothing to boast about. They even took half of the money for other charges. What a rip off. Don't fall for these scams.

These programs, credit counseling companies and bureaus are only after one thing, Your money. You look around and find that you are in worse shape than you were and in debt to more people. So before you go for the unexpected please read the fine print. Ask yourself why would someone do this for me? And, what do they expect to gain. Be aware and read the fine print.

If these companies really wanted to help then why did it look like they were sucking you into more debt? Now I saw why the no credit, no problem promises can be a scam, they were. And I wish I had of checked them and read the fine print before spending on two of them. I sent one back and am still fusing with them today. So please beware this is really truly a rip off.

After talking with a lawyer. I found it would cost me more to fight it. The lawyer said it was done at my and the companies own risk. They can hassle you forever but that even worse they can report and mess your credit up really bad.

Learn more about this author, Latonia Griswold.
Click here to send this author comments or questions.

Add your voice

Know something about Why no credit, no problem promises can be a scam?
We want to hear your view. Write now!