Take your mama?s advice and remember that when it sounds too good to be true, it probably is (too good to be true, that is).
In California a ?serial con artist? named Ralph Adam Rendon, who is currently out on bail for selling bogus travel packages to senior citizens, has now been arrested for defrauding hundreds of people by charging them $500 to apply for a ?No FICO? credit card with credit lines of $50000 to $100000. His company, called ?London Exchange? also claimed to offer credit repair counseling.
To date, no credit cards have been issued yet Mr. Rendon is purported to have collected more than $300000 from over 600 unwitting customers between May 2009 and August 2009.
If you think that you have been defrauded by London Exchange see
Nationwide Credit Card Scheme from the California Office of the Attorney General.