var json_comments = new Array("
\"user-pic\"
morganlh85
November 30, 2009 10:29 AM
Moderate | Flag for review

It's possible that Steven had already pulled his free credit reports for the year, hence the $50.

Reply
2 replies
\"user-pic\"
Awjvail
November 30, 2009 10:45 AM
Moderate |Flag for review

That's what I was thinking.....

Duh.

Reply
\"user-pic\"
RecordStoreToughGuy_starcommandseries.com
November 30, 2009 12:19 PM
Moderate |Flag for review

It used to be that you could get your credit report for free if you were turned down for credit. I don't know if there is a similar provision for investigating potential fraud, or even if they offer the free report for declined accounts anymore.

Reply
","","
\"user-pic\"
sfurukawa
November 30, 2009 10:55 AM
Moderate |Flag for review

The same thing happened to me with Chase, except that I didn't even agree to sign up for anything at all. One day a card just showed up in my mail. I had recently gone into a Chase branch for something, but there was no mention of signing up for anything at all. The last thing I need is another card, and the blemish on my credit report for opening and closing a card that I didn't sign up for is not something I need!

Reply
1 replies
\"user-pic\"
SOhp101
November 30, 2009 12:55 PM
Moderate |Flag for review

Same thing happened to me too! I went into a branch for a single transaction. No signatures or anything of any sort and I got a credit card in the mail a few days later. I called the rep and they claimed they had no idea how I got it.

Reply
","
\"user-pic\"
mmbb_cc
November 30, 2009 10:57 AM
Moderate |Flag for review

what the hell kind of credit report costs $50? with identity protection services?

also, why are people so paranoid about receiving a card from a financial institution? don't want it, don't use it. i have a visa and an amex from fidelity brokerage that i've never used and never been so paranoid that i had to pull a credit report to cancel the account. here's an idea--if you don't want the card, don't use it. the \"not using\" technique works for every single person who does not suffer from \"credit burning a hole in my pocket\" syndrome.

Reply
5 replies
\"user-pic\"
Major Annoyance
November 30, 2009 2:08 PM
Moderate |Flag for review

But doesn't opening the account affect his credit rating?

Reply
\"user-pic\"
TCama
November 30, 2009 12:01 PM
Moderate |Flag for review

Opening a line of credit puts a dent in your credit report that I believe lasts for either six months or a year. After that, depending on what else is on your report, it might continue to be a blemish. Also, if someone finds the information they could use it fraudulently.

The point is that if people want to open a credit card account, they will. If they don't, they won't. Chase shouldn't force you to open one.

Reply
\"user-pic\"
azntg
November 30, 2009 11:31 AM
Moderate |Flag for review

Not everybody is as oblivious about the ramifications of every tradeline and inquiry listed on their credit reports.

Anybody conscious and particularly knowledgeable about credit would be absolutely livid at the prospects of a credit card issued to them unsolicited!

Unfortunately, the \"don't like it, don't use it\" line of thinking is nothing more than wishful thinking. Things are rarely that simple in the realm of credit.

Reply
\"user-pic\"
tbax929
November 30, 2009 11:04 AM
Moderate |Flag for review

That may be true, but wouldn't you still be upset about a bank issuing you a credit card against your wishes?

Reply
\"user-pic\"
mmbb_cc
November 30, 2009 12:55 PM
Moderate |Flag for review

fidelity issued me a visa and an amex. i didn't consent or use either, and it hasn't affected my credit score at all.

Reply
\"user-pic\"
LadySiren is murdering her kids with HFCS and processed cheese
December 1, 2009 1:59 PM
Moderate |Flag for review

If the OP was applying for a mortgage and already has open lines of revolving credit, adding another credit card could affect the lender's willingness to lend to him. IANAL (I am not a lender) so I don't know all the specifics of how much that extra potential indebtedness would affect an application, but I'm guessing it could have a pretty substantial impact on a lender's point of view.

Reply
","
\"user-pic\"
CompyPaq
November 30, 2009 10:58 AM
Moderate |Flag for review

Being that he would have never agreed to the terms of the card, the card should have never been opened. If he did agree to the terms, then it is his fault, but it doesn't sound like he did. The disclosures you recieve and agree to when you apply to credit cards are there for a reason. If Chase didn't present them to him, then that is a major violation of the law.

Reply
","
\"user-pic\"
LESSTHANKIND
November 30, 2009 11:01 AM
Moderate |Flag for review

Steven should also dispute the account with all three credit bureaus. And demand that Chase delete the inquiry.

Reply
2 replies
\"user-pic\"
CompyPaq
November 30, 2009 11:05 AM
Moderate |Flag for review

If it were easier to dispute and get a dispute resolved, that would definitely be the best way to go about things. He never agreed to the account, so the account is fraudulent.

Reply
\"user-pic\"
LESSTHANKIND
November 30, 2009 11:09 AM
Moderate |Flag for review

Yes, it is fraudulent. And he should dispute it as such. He needs to start a paper trail, proving his desire and efforts to remove this fraudulent account from his credit history.

Reply
","","","","
\"user-pic\"
NeverLetMeDown
November 30, 2009 11:14 AM
Moderate |Flag for review

Of course, by closing the account, he's made the problem worse, since the inquiry is still on his credit report, but the card (and it's associated line of credit) is not.

Reply
","
\"user-pic\"
friday3
November 30, 2009 11:16 AM
Moderate |Flag for review

\"solicited to sign up for overdraft protection on my checking account. \"

What about that would make you think it is NOT a line of credit. By definition overdraft protection IS a line of credit. It is possible he put the information in the system and was unable to cancel it in time. Credit can be pulled in a matter of seconds. If they sent you a card, do not call to acticvate it. Send a letter with the card and tell them you do not want it. It will not \"ding\" your credit negatively.
To call this fraud is a misrepresentation on your part. You admit to agreeing to let them give you overdraft protection. You can cancel that at any time. The fact \"I told him to add it, and with a quick surrendering of my household income and mother's maiden name, it was added.\" shows you weren't asked if you wanted and said no.
You are spending way too much energy on something that is easy to fix or ignore. It has not cost you anything. I would suggest educating yourself on several issues, including buying a credit report for $50, when you could get all three for less than $20 OR pulled them for free. . If you had stopped your irrational anger and gone into another branch they would have pulled the report for you for free.

Reply
4 replies
\"user-pic\"
LESSTHANKIND
November 30, 2009 11:33 AM
Moderate |Flag for review

Overdraft protection connected to your checking account and a credit card are NOT the same thing. He agreed to a line of credit that would be activated only when he overdrew his checking account. He did not agree to a revolving credit card account. If Chase's overdraft protection program DOES require a related credit card, he should have been told that immediately, instead of the bank employee sheepishly admitting it after the process was finished.

The employee probably earns some kind of reward for getting people to successfully apply for credit cards, and has found an effective way of talking his way around it like he did here. Steven clearly wasn't sure what was going on, and it sounds like the employee took advantage of that.

Reply
\"user-pic\"
scotwithoutacause
November 30, 2009 2:35 PM
Moderate |Flag for review

Exactly right. We were taught to say \"this is a line of credit that comes with a Visa card which doesn't have to be used\" or even waiting until after the approval to say \"you'll be receiving a card in the mail which is attached to this line of credit, it's your choice to use it\" - instead of saying exactly what it was a CREDIT CARD.

Reply
\"user-pic\"
azntg
November 30, 2009 11:26 AM
Moderate |Flag for review

Actually, signing up for Overdraft Protection does not necessarily mean signing up for a line of credit.

Chase retail bankers can activate overdraft protection by linking a checking and savings account together (for overdraft purposes). I suspect that: 1) that is something more along the lines of what OP was expecting and 2) the Chase banker was desperately trying to meet quotas and misled the OP (which doesn't surprise me at all).

Reply
\"user-pic\"
friday3
November 30, 2009 11:34 PM
Moderate |Flag for review

Linking of an account to your savings is NOT overdraft protection. It is a transfer policy, that banks charge for. True overdraft protection by its very nature IS credit. You have $10 in your account, and you want your check for $11 to clear, it is asking to borrow $1. Whether it be for a day , a month, or a year. If overdrafts are not an issue, than there is no need for the service, if they are, and the money is tied to a credit card, it is still available credit. When an overdraft line is established even without a card, it has limits. If he wanted it without the card, then cut the card up and it is the exact same effect. If you try to have a check for a million dollars clear it WONT. It is above your credit line.

Reply
","
\"user-pic\"
zomgorly
November 30, 2009 11:20 AM
Moderate |Flag for review

I try to never sign up for any extra service unless I want it. I was on the phone activating a card I received from my bank only to be almost sold on a protection plan because I replied with a yes response after being asked if I do not want the protection plan. My thinking was yes I do not want the plan, her thinking was he said yes sign me up. Luckily I caught on to what she was doing and had to spend several minutes trying to get her not to add on the extra plan.

Reply
","","
\"user-pic\"
AllanG54
November 30, 2009 11:28 AM
Moderate |Flag for review

Oh, grow up. If you don't want the card don't activate it. I don't understand what the big deal is. You should be happy that they're willing to give you a credit line these days.

Reply
2 replies
\"user-pic\"
azntg
November 30, 2009 11:37 AM
Moderate |Flag for review

That's a clear cut and dry sign of credit ignorance.

If OP doesn't activate his card, 1) his credit files have already taken the \"inquiry\" hit and 2) the unwanted card will still be reported as a valid tradeline.

It can still potentially cause the OP trouble down the line in numerous ways. Depending on the OP's financial circumstances and credit file, existing creditors can potentially perform adverse actions against him because a new tradeline showed up and it could be another set of pains if he intends to apply for a loan soon

BTW, I believe the Consumerist even had an article about \"unactivated\" cards being ready to use anyway.

Reply
\"user-pic\"
LESSTHANKIND
November 30, 2009 11:45 AM
Moderate |Flag for review

True, true, TRUE. Not activating a card doesn't mean you don't take the hit for the inquiry, the new account AND the lowering of average age of your accounts. Depending on what else is on his reports, this could actually hurt him more than people realize. Also, if he actually *does* want to open a credit card somewhere in the next 6 months, the potential creditor may see this account, consider Steven as recently seeking credit, and turn him down.

There's more dominos involved in opening a credit card account than people think.

Reply
","
\"user-pic\"
Megalomania
November 30, 2009 11:30 AM
Moderate |Flag for review

I would guess that the 'overdraft protection' was that the card would automatically be used to cover any overdrafts from the checking account. Considering the lengths the guy went to to try and get him not to cancel the card, it seems like the rep was unable to undo the application after he put it through and was trying to avoid a shitstorm.

Were it not for the ding on the credit report for the inquiry, I would certainly describe adding that form of protection completely free of negative consequences, provided you're responsible and pay off the card balance if you do end up needing the overdraft protection. I just don't think the rep was really acting in bad faith when he upsold the overdraft plan in the first place.

Reply
","","","","
\"user-pic\"
dragonfire81
November 30, 2009 11:40 AM
Moderate |Flag for review

My guess is the bank tellers have quotas that require them to process X number of card apps each month and that particular teller was being underhanded to try and hit their quota.

Reply
","
\"user-pic\"
Coelacanth
November 30, 2009 11:43 AM
Moderate |Flag for review

Chase pretty much did this to me, although I didn't aggressively read through the documentation and made my intentions known that I refused, under any circumstances, to open up a new line of credit. Personally, I didn't mind too much.

I didn't have any need for a new one, but then again I'm not planning to make a major purchase in the near future. If anything, it's a little more financial freedom should other banks continue to play shenanigans.

Reply
","","
\"user-pic\"
whosurdaddy
November 30, 2009 11:56 AM
Moderate |Flag for review

is why i dont bank at chase anymore. they were just horrible in their customer service. banks dont care anymore if they piss off their customers bc they know that there are really only a few youcan bank at that have reasonable rates.

Reply
","","","","","
\"user-pic\"
haoshufu
November 30, 2009 1:02 PM
Moderate |Flag for review

Someone in the bank fradulently used his information to open up a credit account. Why didn't he just file a police report for ID theft? I am sure this will get more of the bank's attention as the suspect is a bank employee. Would make a better headline at USATODAY rather than just consumerist.com

Reply
1 replies
\"user-pic\"
NYGuy1976
November 30, 2009 2:03 PM
Moderate |Flag for review

That is not ID theft. The card was sent to the customer. The employee in the Bank did not issue the card to himself to use.

Reply
","
\"user-pic\"
Magspie
November 30, 2009 1:16 PM
Moderate |Flag for review

They can be pretty sneaky sometimes. One time I was shopping at an upscale maternity store and they offered me a discount card. I asked if it was a credit card. She said it wasn't and it would give me a discount. I said sure. She gave me the application and I looked at it and saw that it asked all the usual credit card application questions. I asked her in three different ways and finally got her to admit that it was 'sort of' a credit card. Luckily I was mystery shopping and I got to report all that directly to the company.
He probably should have gotten a little nervous at the household income type questions and backed off.

Reply
","
\"user-pic\"
NYGuy1976
November 30, 2009 2:00 PM
Moderate |Flag for review

I think fraud would be hard to prove here. Currently, banks do not need your signature to open a credit card. Hopefully that will change.

Reply
","","
\"user-pic\"
SugarMag
November 30, 2009 2:06 PM
Moderate |Flag for review

Oh goody, another reminder why not to bank with Chase.

I like knowing before I get involved with the evils of Chase, Best Buy or Cap One.

Thank you Consumerist!

Reply
","","
\"user-pic\"
StanTheManDean
November 30, 2009 2:19 PM
Moderate |Flag for review

Take it to the bank manager.

Tell him/her to shove it up his/her arse OR fire the employee while you watch.

Reply
","
\"user-pic\"
scotwithoutacause
November 30, 2009 2:28 PM
Moderate |Flag for review

\"I went into a branch for a simple deposit, and was solicited to sign up for overdraft protection on my checking account. ...and mentioned I would be receiving a card tied to the overdraft program, but that I didn't have to use it. He suddenly started describing it as a 'line of credit'...\"

I worked as a personal banker at Chase for about a year. This is exactly how I was trained to SELL a credit card as overdraft protection. Tellers, but especially Personal Bankers, are trained to be salesmen and are expected to meet a quota. They also receive paid incentives per \"service\" they sell once they reach a certain goal; these incentives begin to multiply the more they sell. If I remember correctly -a credit card, once used, earned the banker 17.5 points= $17.50 base.

When your account is pulled up so are eligible \"products\" or \"sevices\" - however you want to spin it; it's the banker's job to sell you these. My first day I was pressured by a superivsor to sell a CC to an 18 year old girl who was clearly hesistant and could barely manage a checking account. I tracked her account out of guilt & found that she had gone over a $200 limit within a week, incurring multiple fees and ruining whatever good credit she had. They would never admit it but we were trained to use deceptive selling practices & even psychological manipulation. Upper management eventually tired of me questioning the ethical integrity of these practices & my low sales; and I tired of their b.s. and quit. Chase is a sleazy company, they need to go down hard.

Reply
","","
\"user-pic\"
JiminyChristmas
November 30, 2009 3:02 PM
Moderate |Flag for review

For what it’s worth, Wells Fargo does (or did) the same thing. When I was a poor graduate student I signed up for overdraft protection with the thought that the $10 fee (oh yes, there’s a fee) to activate the overdraft protection would be better than the $39 fee for NSF.

That said, they made it quite clear I was signing up for a credit card. As for that, who cares? I actually never used it. When they send me new ones I don’t even activate them; they go straight to the shredder.

As for the OP, yes some level of irritation is justified, but fury? Unless you are now applying or will soon apply for a mortgage, or maybe a new car loan, one additional credit card (likely with a low limit) and one inquiry on your credit reports won’t make a damned bit of difference.

Reply
","
\"user-pic\"
milachyo
November 30, 2009 5:47 PM
Moderate |Flag for review

I used to work for Chase Bank in NY and as personal bankers we had goals to make.

Each product or service that we sold to a customer was assigned a specific point value.
These point values were known as PVC's. I do not remember what that stood for.
Credit cards had the highest value of either 20 or 25 points. Free checking or online bill pay was 5 points. Monthly bonuses were dependent on how many points you could accumulate for the month and quarter.

If a banker in the branch sat with three people and each of them were approved for a credit card and chose to take it or was talked into taking it they were considered more productive than another rep that took the time to try and build a relationship with a customer and see how they could be helped by products or services the bank had to offer. Services and products that took more than one interaction to close. Consolidating assets, investments , and insurance took more time and the bank was looking for more transactional items.

That is part of the reason why I was not happy there and part of the reason I no longer work there.

Reply
","
\"user-pic\"
HannahK
November 30, 2009 6:40 PM
Moderate |Flag for review

I thought that it was pretty common knowledge that overdraft protection puts the charge on a line of credit instead of putting your account in the red and charging you a fee. I'm surprised that someone concerned about having a line of credit open, or about an inquiry on their credit report, would think otherwise. How else could they offer overdraft protection- just give way free money on the honor system?

Either way, the teller should have been very clear, to protect the bank from crazy accusations and demands.

Reply
","","");