🚀 go-pugleaf

In a previous article, Vic Goldberg <vic@tc.cornell.edu> wrote:
>This weekend, my wife received a check in the mail for 
>$7,500 from Signet Bank.  Only catch?  This was an 
>unsolicited loan!  This was not a replica, or One of those
>other gimicks - just endorse and deposit.

How funny that you should post this, because I was just about to post a
flame about Bank One, and this gives me a perfect opportunity.

I am trying to get a loan and asked Bank One for rates, but they said
they "couldn't give out rates" until I went through their 5 minute loan
process and the rate would be based on my creditworthiness.

To make the story shorter: the 5 minutes was 30, the loan was declined,
I now have a formal loan inquiry on my credit report, and I had just
about forgotten the whole thing.... But then we got a letter from Bank
One saying our "loan paperwork " had been forwarded to this special
unit of Bank One and they were pleased to offer us the attached loan
check for $3000;  just cash this check and you're in!

Now we have received offers like this in the past which we promptly
ripped up and tossed, but I was particularly upset to receive this
check from my own bank in the guise of some sort of counteroffer to our
original loan.   To really sweeten the pie, this loan was at the
astonishing rate of 30% APR !!!

I was very upset about this and I called the issuer of this letter,
Bank One's loan shark division in Indianapolis, where I was told that
ALL declined loans are routinely referred to this division and MOST
receive a similar offer!  What a crock!

So, if you apply for a loan at Bank One,  be aware that you may get put
on the "bad credit" mailing list and/or get unsolicited checks in the
mail.


-- 
Will Bell -- wbb@netcom.com -- with my naked eye I saw Arlington, TX