When you have credit that is less than stellar, it seems like everyone is out to get you. You have creditors calling your workplace, you have letters coming in the mail, and eventually you get contacted by a lawyer.
But you already know that those creditors are harassing you, you don’t need to be reminded of that.
What you might not know is that those credit card offers you are still getting might be scams as well…
Believe it or not, there are people out there who will take advantage of your credit problems by offering you credit loans and then using that ploy to get your personal information…and ultimately your money.
These people know that you have bad credit, they know that you are desperate for money, and they know that you would love the chance to build your credit back up. They know all of this and they use it to take advantage of you when you are the most vulnerable.
How It Works
Obviously the first thing that the scammer is going to do is try to make some kind of contact with you But unlike most legit credit card companies that have the money to send mass mailings, the scam artists will usually go the cheaper route, trying to contact you by phone or email. In some cases, these scammers even have nice websites set up and they simply wait for people to find them.
No matter how they get in touch with you, they will definitely tell you that they will be able to approve you for a loan and they will likely assure you that it does not matter what your credit looks like. This is part of the scam, to make you feel comfortable when you are the most vulnerable.
Remember, if a company does not see your credit, they have no business telling you that your credit is not going to be an issue.
Once they have you feeling comfortable, they will start asking for your social, your address, and other personal information. These are all standard things for a credit card …