The Low Interest Rate Credit Card as an Opportunity for Fraudulent Schemes
Advertising Disclosure is an independent, advertising-supported web site. receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Cardholder Benefits » The Low Interest Rate Credit Card as an Opportunity for Fraudulent Schemes

The Low Interest Rate Credit Card as an Opportunity for Fraudulent Schemes

Updated: December 25, 2012

Add to Favorites:
It has been know that there is only one way to cheat a person to giving up his common sense - to promise a person to give whatever that person desires. All you need to have is a very smart mouth that goes with a very smart scheming system and bait. The best bait that we, humans, created is money. The promise of money can make many people lose control of their logic, especially large sums of cash. So, if you put together these factors, you can forget about earning a decent living and either go to jail or live a luxurious life. Are you drooling over a low interest rate credit card that has been informed to you via the phone or an e-mail? Have they told you that you have qualified for a major credit card application even you cannot remember applying for one? If you are about to plan a shopping spree, take a few minutes off from the daydream that these individuals have given you because you are about to experience a scam. This scam proceeds by informing you that you have qualified for a low interest rate credit card and that you may claim it by charging it to a pre-existing credit card. Of course, you will be expecting a credit card to be delivered but instead, you will receive a mail order catalog. Together with the catalog is a note saying that you need to buy items worth $400 before an application will be sent to you. If you oblige their terms, you purchased $400 worth of low-class products in the catalog; a form for a regular major credit card application will be given to you. Meaning, you will still have to submit the requirements that the companies want just like a regular applicant. Another scheme that promises low interest rate credit card starts with the same process. They would call you and say that you have qualified for a low interest rate credit card but this time, the victim will be an elderly. They will be targeting the retirement incomes of this group of people. They will entice you by saying that you have nothing to worry about since you have 5 years guaranteed to be free of charge, except for one fee payable via a credit card. They would also promise that they will do all the processing that will be required by the credit card company. If you will be bothered in any way, they will reassure you that your money will be returned. When you have paid them the money, they would send you a folder containing a list of credit cards with low interest rates. After this information, we can conclude that if an offer is too good to be true, it is better to turn your back on it. Always be logical and avoid being a victim of criminal minds.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

5 Reasons to Get the Capital One Venture Miles Rewards Card

By Herbert Moore, Posted: January 18, 2017

If you’re looking for a great travel rewards credit card—one that offers unlimited earning opportunities, flexible redemption, and lots of perks—look no further. This card from Capital One has you covered. Continue reading

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading

Credit Cards to Save More on Holiday Shopping

By Herbert Moore, Posted: November 22, 2016

Discounts and special offers are available all year round. Werther you are a bargain hunter or an impulse buyer, make sure you check online discounts and special offers. Also, if you are a cardholder, see if your credit card opens the door ... Continue reading