Thursday, September 11, 2014

SCAM ALERT: Credit Union Members May Be a Target for this Credit Card Scam

Recently, one of our members received an offer that promised to secure them a pre-approved "UWCS Platinum Card" with a $10,000.00 limit and a low, 5% interest rate. Don't be fooled. Like everything else in life, if it seems too good to be true - it usually is!

This scam has been going on for some time now, but according to internet reports, the company responsible keeps changing their mailing address. Many people have sent in an enrollment fee to get this card and did not receive what they were promised. The Better Business Bureau has investigated and issued the following report:

"BBB files indicate that this business has a pattern of complaints concerning Advertising, Sales, and Services Issues.  Specifically, complaints allege consumers receive an advertisement alleging for $37 they have been pre-approved for a platinum credit card membership with a guaranteed $10,000 credit limit valid exclusively toward all credit purchases from credit providers.  What the consumer receives in the mail is a paper card  and a magazine to order from.  Consumers are not told the card received is not a major credit card and can only be used to purchase the company's merchandise.  Complaints allege difficulty reaching the company at the telephone numbers provided...
On August 2, 2012, the BBB sent certified correspondence to Union Workers Credit Services Inc. requesting their voluntary cooperation in eliminating the pattern of customer complaints.  The BBB has not received a response."

Aside from losing any money you might send, you also don't want to release any personal information about yourself or any other bank-related information. BEWARE of this scam!