I don't believe it I just got a credit card

[peternap]

I just opened the mail. Among the usual junk was a pre approved credit card. Not just a pre approved offer...the credit card, complete with activation number.

To make matters worse, it was issued to a years dead Corporation, I had been the registered agent for. It was some no name bank..

What in the hell are these people thinking of?

[ScottA]

Here's your chance to save the economy.

[muldoon]

sure, makes sense to me. 

step 1) make bad loans, anything to create debt.  doesnt matter if there is even intention to pay it back.
step 2) take loan to federal reserve as collateral in exchange for treasuries.  (if doesnt matter if it is in default or not)
step 3) take newly laundered money, loan out and go back to step 1, or invest it in stock market or sit on it as desired. 
step 4) american taxpayer eats loss on the bad loan. you keep profits. 
step 5) give yourself a bonus. 

everyone wins. 

seriously tho - what was the name of the bank?  it seems desperate, are they counting that line of credit as an asset?  how bad must their books *really* be?   

[John_C]

I've recently received a couple of  0%  credit card offers and a Reader's Digest renewal for my mother.  Considering she died in 1982 it just makes you go     hmmmmm.

[glenn kangiser]

Hmm - that must be why Citibank keeps increasing mine.

[desdawg]

I went into B of A the other day and the teller informed me I was preapproved for a new card. 0% interest for a year on balance transfers. Whatever you don't get paid off during that time will then go right to 23.9% interest till you get it done.

[peternap]

They don't seem to learn Des. Here we are in the middle of the biggest credit crises this country has ever had....and the credit card companies just keep doing the same thing.

This takes the cake though. Sending an unsolicited. pre approved, credit card to a company that has been dissolved for years.

[glenn kangiser]

23.9% des.  Nice rate, eh?

[Squirl]

Strange that they sent you the actual card unsolicited.  Keep a close eye on your identity (credit report) for the next month.  I have not seen banks sending actual cards without a request in a while because of possible identity theft.  If it got lost in the mail on the way and you didn't know it was coming someone could have run up a lot of debt on your tab.
The only other logical explanation I could think is if there was a previous account was already open there a long time and they were just sending you a new card.

[MountainDon]

Yeah, my understanding is that the CC companies can send out all the offers they want, but actual cards that are ready to be activated/used are a No-No. Big time No-No. What was done might actually be illegal.

FWIW, some CC companies phone activation dealie only works when their system recognizes the number you are calling from as being the number they have on record for you.

[Flutterby]

And, I'm surprised that they sent the activation number with the card. Isn't that usually sent separate from the card? 

[MountainDon]

I interpreted "activation number" to be the telephone number you have to call to activate the card. That's usually on a small label on the face of the card. You call that number and enter the card account number. Once called the card is active. If you call from the phone number the CC company has on record it is automated. If you call from a number that you never supplied the CC company you get a live peson. At least that was the system used by the bank I used to work for.

[desdawg]

It sounds like the end of credit cards as we knew them is getting pretty near now. It is time to pull way back on the plastic. And if I heard what I thought I heard mortgage lending is going to loosen up? Isn't that what got us to where we are now? Maybe that is only for people refinancing their problem mortgages. Once you try to draw a line and make a distinction that is where things start getting fuzzy creating areas for potential abuse.