Recently, a local Decatur woman reported receiving an unsolicited credit card in the mail from Connector Capital with a $500,000 credit limit. The consumer was skeptical and, thankfully, did not activate the card. Had she done so, she would have had a new, high-limit credit account opened in her name – something that can play havoc with your credit score if you don’t have the income to support such a high limit. Of course, she would have been liable for any funds spent, even if she could not afford to do so.
The business profile on this listed by BBB serving Central, Northern and Western Arizona reports “that this company sends unsolicited credit cards with a $150,000 or higher credit limit by postal mail which display individuals' actual names. According to the Truth in Lending Act (TILA) provided by the Consumer Financial Protection Bureau (CFPB), it is illegal for a company to send consumers unsolicited credit cards.” The company has an “F” Rating.
This is a fake credit card, designed to lure unsuspecting consumers and business owners to call the 800 number listed on the card or go to the company website to “activate” the card by providing more personal and financial information.
The company started out as IMCA Capital but has changed its name three times in two years – from IMCA Capital to Integrate Capital to Connector Capital and finally to Notable Capital. In one year, the BBB has received 38 complaints related to advertising issues. For more details on these complaints, go to the BBB Notable Capital Business Profile.
What should you do if you receive an unsolicited credit card offer?
Source: BBB North Alabama