I recently fell victim to Credicorp's smooth talk'n mailer promising a Gold card to members with a $10,000 credit limit. I thought it was too good to be true but out of sheer curiosity I sent in the $29.95 to activate membership. (Which by the way, they will not give you any info about the company or membership until you do so - that should have been my first clue) Anyway, three weeks later I get a package from them with details on membership. The card is in fact a paper card colored gold complete w/hologram sticker and membership ID. It is NOT a credit card, and in fact you don't even need the card to use your membership as long as you know your ID number. Also, you can only order products from their catalog with your $10,000 dollar credit line. There product selection isn't very big at all (ex. they only sell a couple TV's in their electronics section and the biggest is 30 something inches) and a lot of it seems to be last years leftovers. What's more is, if you actually want something you have to come up with shipping cost in cash, you can't finance those charges with your $10,000! The company also has a bad review from the BBB, who discuss their sneeky tactics. I am now trying to get my money back...I'll let you know if they back up their guarantee. Am I the only smuck who fell for this???
No not really, alot of people did. When I came to this board about a year ago, credicorp was the hot topic. In fact, I think there even might be a separate section at the top where it's featured as a credit alert (just checked...yes it is). Just remember, if it's too good to be true, it probably is. If you can't get a $10,000 card from any of the "top" banks in the country, then any one you might get from an "iffy" bank (or any other sort of unknown company giving credit) probably has too many strings (and fees and ifs and buts) attached.
Some have been asked for membership fees of $149.95. Some of the catalogue shopping cards are $15,000 credit line. You also have to pay a 30% deposit with your order.
On top of all this, your name, address and phone number will be sold to other telemarketers with the label as "a live fish". Best regards, Sam
