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Spring is in the air and arriving to college campuses along with the birds & bees are the credit card companies. These companies will tempt you by offering fashionable tee-shirts, posters, or other trinkets for simply filling out a credit card application. It’s easy just fill out the application, get the really cool free gift and if you don’t want the credit card, simply cancel it upon receipt. What’s the problem you ask? All of my friends did it and the sales person is really hot.
Welcome to the world of Identity Theft. Yes, I mean you! You’re free gift cost the credit card companies a few dollars to mass produce. You’re actual cost if you become a victim of identity theft, may be hundreds, if not thousands, of dollars plus an equal amount of your time.
It will never happen to me! Unfortunately, more & more people like you are becoming victims of identity theft. Your credit card application is processed; a credit card is issued under you name and mailed. You find it in the mail and forgot that you were told to contact the credit card company to cancel it. So you throw it away. It is just another piece of junk mail, right?
Wrong! Your application was a contract and you are responsible for your new credit card.
Did you know there are people who look through trash and even inside of mail boxes hoping to find your credit card junk mail? They will activate your new card and the fun begins. Oh, yeah, think of all those things you want to buy, but don’t have the money. Guess what? You are buying them, and you don’t even know it. Yes, you are now a victim of identity theft, but the good thing is you won’t know it for a few months when your credit card statement arrives and your card is maxed out.
Remember the happy feeling when you got your free gift? Good, the nightmares are about to begin. The credit card company only wants its money, their collection agencies begin calling, the police departments argue with you about jurisdictional issues, your parents are furious, and you credit is damaged.
Last question: was it worth the free gift that you have forgotten by now?
You need help, so we are here to help. Begin at The Federal Trade Commissions Website it is a great resource. Print out their document entitled “When bad things happen to your good name”. Get a copy of your credit report to see how much damage has been done. You should be entitled to a free copy. This is a crime so file a report with the police department having jurisdiction where your credit card was used.
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