Credit Cards

[bosie76nyc]

As my credit score over the past few months has increased so has the number of credit card offers I receive. Since my score is still in no way good the offers are dubious at best. However yesterday I received an offer from WebBank Pearl Card Gold Mastercard saying that I could pay off my my "charged off MBNA account" with a total balance of $5916. The problem is I don't believe I have ever had a MBNA card with that kind of balance and also none of my three credit reports show any "charged off" MBNA account. Is this a scam? If not, where would this place get such flawed information? Or are there somethings on my credit report that I cannot see?

[unknown_entity]

Looks like one of those greasy places like Tribute.  If there is nothing on your report about a charge off, then you don't have anything to worry about.  Sounds to me like they are trying to give you a new CC with a big balance.  lol.  What a deal.....NOT!! 

[concorduser]

I had a old charge off account with Cross Country Bank and these guys sent me an offer. I was foolish and fell for the offer. After paying off the full amount they, gave me 1/4 the amount as CL. It shows on my CR High Credit as full amount and Credit Limit as 1/4 the High CL. I was foolish and should not have taken up on this offer. If nothing is showing on your CR, then dont go for this offer.

[mrsanderson]

NO!!!!!!!! dont DIsturb....................shhhhhhhhhhhh Be Quiet donot enter a territory u might want to take a U turn.........

[jmbfl]

I got this offer TWICE in the mail TODAY in regard to a TIME BARRED DEBT. DO NOT - I REPEAT - DO NOT EVEN CONSIDER ACCEPTING THIS OFFER OR ANY SUCH OFFER. Problem is that the amount they are "forgiving" can be considered income and you might receive a 1099 form for it and have to report it on your tax return. This actually happened to me once when I settled a debt. FORGIVEN DEBT = INCOME! Plus the card they are offering is crap. Sub-prime city and I am sure they will mess with you later. Why on earth would I dredge up a debt that is beyond SOL, have to risk reporting income, to get a crappy sub-prime card with a lousy CL. EW!

If it is not the OC I would never get involved in any arrangement regarding a very old debt. It is just not going to do you any good and possibly much harm.

I'll give them an A for effort though!

[OhWejo]

Pearl Card gave me an offer in May of 2010.  I not only paid of the old debt they bought, but the amount of credit they gave me-in full.  They raised my credit limit and I have paid them faithfully every month.  For the first year they offer 0% financing.  They may not be perfect, but they have seemed to be good to me.  You have to go with your gut feeling on this.  If you owe the debt, they can help by paying that off, (having it show on your credit as PAID) and then they begin reporting to the credit bureaus and your credit score goes up.  I know these messages are back from 08' and I'm writing this at almost 11' however, with the new laws, I don't see any harm, if YOU PERSONALLY feel it is RIGHT FOR YOU, to go forward with this offer.