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Scam Confirmed: Anacott Financial Starts Mailing Fake “Credit Cards”

by on October 24, 2010

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The Anacott Financial credit card marketing scam is one that we uncovered a few weeks back with a note to Reuters’ Felix Salmon.  We’ve gotten a number of comments on our original post from readers who were conned into believing they were getting an actual credit card, or who were able to uncover even more information indicating that this company may be completely illegitimate.  To follow it up, our friends over at SmartBalanceTransfers.com put up some tips for Annacott Financial card applicants to get their $99 fees refunded and protect their identities from potential theft.

Now we’ve gotten word from some of our users that Annacott has actually started sending out approval letters, along with fake “credit cards.”  Here we’ve attached a picture of one of these sham cards, as well as a copy of the approval letter, with some of our own comments (click the letter images to see them blown up).

More evidence this card is a complete fraud:

  • The card doesn’t carry a Visa/MasterCard/etc logo, so it’s clear that it won’t be accepted for purchases at any retailers.
  • The back of the card is completely blank.  It looks like an index card, and is that even a magnetic stripe?
  • No customer service number, no signature label, and no information about any issuing bank.

  • The letter refers to the card not as a “credit card”, but as a “credit consulting credit card.”
  • It goes on to tell this reader that he has a $2,200 credit line to access their “professional credit consultants to help you build your financial future.”
  • In other words, you can’t use this card for anything other than giving Anacott more money.  And you will be charged interest by them if you can’t afford to pay off your “credit consulting” bill.  What a crock.

  • The terms and conditions are labeled as “abbreviated.”  WTH does that mean, and is it even legal?
  • Since it’s “abbreviated”, it doesn’t fit the standard model dictated by the CARD Act, which all credit card issuers are mandated by law to follow.
  • It states that, “it is our goal to offer you the credit card that best fits your credit profile, which may or may not be the card you originally inquired about.”
  • We haven’t gotten reports from a single person yet who HAS received the card they applied for.
  • It also states that, “refund of $99 processing fee will be provided to customers who cancel with five days of APPLICATION date.”
  • This is hard for many users to follow up on, since it has taken Anacott 3-4 weeks on average to issue the card.

And here’s the email that this reader sent to us, with a very entertaining customer support story:

Dear nerdwallet,

Today I finally received my Anacott Financial credit card (or how they put it in the letter to me), my “credit consulting card” My credit limit is $2,200.00. I called them today to ask them why I was lied to. They told me that I was not approved for a regular credit card, but they would report to the credit bureaus for me so that I might increase my credit. I asked them what credit score, as I can change my score on their website every five seconds. They did not reply to this. I then told them that someone should just do them a favor and send them a virus. At this point I was so irritated that I hung up the phone. A few moments later a woman called me back and stated that if I ever called them again and threatened them they would call the police. Of course I am just shaking in my boots as to why a company scamming people would even say such a ridiculous thing. Anyhow… It has taken almost six weeks to get this card that is worth nothing more than calling a 900 number (at lest a 900 number would probably be cheaper.) I told them I don’t want to talk to them because I have talked to them enough for free and am not satisfied. Why would I pay to talk to them?

Attached are the pictures of the front and the back of my card and the letter I received from them with the card.. I have not blotted anything so that people can see it is the real thing. Please post this information as an update. I have no idea how to post such items, but people need to know the truth.

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  • Bob

    Here is the complaint I just sent to the BBB tonight (www.bbb.org).. Folks, file a complaint! I have seen so many people say they are going to do one, but they only have THREE complaints.. Four now once they process mine. It is worth 20-30 minutes to do so! Here is what I sent via their online complaint form:

    I requested an unsecured credit card through Anacott Financial back in early September. With their 10-14 business day rule, I should have received my card no later than the first week of October. I gave it an extra week. I finally emailed them, but never heard back. My next communication with them was by telephone. At first I was going to leave a voicemail since no one was answering from “option 3″ but their voicemail was full. I called back a minute later and hit “option 2″ for support. I spoke to a lady who could pull up my account somehow by just my name and last 4 SSN digits. She said I should have had the card a week earlier but to call back if I haven’t received it in a day or two. I gave it three days, so I called back again. She asked if they could expedite me a card. I asked her if she knew what type of card it was I was going to receive, but she said their system didn’t give her that information. I asked for a refund. She said that yes, she would close my account that day and that I should receive my refund 4-6 business days later, back to my account. It has now been 11 business days now, still with no refund back to my card that I originally made the $99 “refundable downpayment” on. However, 7 business days later, I received this Anacott Financial credit card that looks almost homemade. The letter that came with it stated I was approved for $2200 worth of their credit counseling services. This was absolutely NOT what I applied for. I applied for either an unsecured Visa or Mastercard. Their website has absolutely nothing regarding a credit card for credit counseling. I will be more than happy to scan and send you what I have received if that will help with the complaint.

    There are countless complaints that have shown up on the internet since September 2010 regarding this company. If you google their company, there are complaints after complaints. When I first applied for the card, the complaints were at a minimum, since most were just waiting for there card. Towards the end of September and October, complaints exploded.

    This company needs to be shut down immediately and prosecuted for fraud. Their website is http://www.anacottfinancial.com, which I know you have. If you push “option 2″, you will get to speak to someone more than likely. Please google their name and read many, many complaints posted online.

    You are welcome to call me at 605-545-xxxx after 5pm Mountain Time or on the weekend. You can also email me at bob.xxxxxxxx78@gmail.com.

  • Tina Harris

    I have tried repeatedly to contact them….the mailbox is alway full. I have also contact AlliedWallet without a response regarding my refund. Any suggestions on what to do next?

    • Sam

      I notified my bank right after I received the fake card. The bank issued me credit right away, that’s been 5 weeks and they opened an investigation. I’m not worried, I got my $ back and unless I’m notified otherwise they are even remotely legit I’m fine. Chase bank is good about these things. I’ve been scammed by movers before and I was refunded and never heard about those moving company scammers again.

      That’s one thing about a big bank like Chase, they will go after fraud cases.

  • Cheryl Wallace

    I was also a victim of this credit scam. i called 10-21-2010 they were still answering the phone at that point. spoke to a rude young woman advised her i wanted a refund immediately. advised that all over google everyone says this is a scam. she said i will get my card shortly, i said yall been saying that for 3 weeks just give me a refund, she agreed in 7 days i would get it, a day later i recieved some homemade credit card it no master card logo or any logo no raised number back of card was blank fake card, they were no longer answering there phone, was saying it was full. almost a month later, today i disputed charge with my bank. if they find company fraudulent they said they have to refund my $99. Im concerned that i faxed them a copy of my debit card as well as my drivers license. the credit score on there website also has all me personal info we are great victims for idenity theft. i have notified dept of motor vehicle they sent me a fraud form to fill out to advise them of this compromise of my license and any misuse that may happen. so cover yourself and contact DMV about your license being compromised. my bank cancelled my debit card and is reissueing another one for safety. does anyone no what else we should be doing to protect ourselves from these theives! we probably all did there free credit score scam as well which also has our info! Any suggestions?

  • angel and dennis keegan

    we applied and were approved for a credit card each and both paid $99.00 each and never recieved the cards and are n0ow out $200.00 and are on a fixed income,as well as them
    having our id numbers and cc numbers this is fraud,need our monies back,and they need
    to be proscuted.anacott financial.com

    • moncheretta

      Call your bank let them no your account was compromised (ask them to reissue you new cards) by this scam and they will give you a refund they will also send you forms to fill out to investigate company and once they find out this is not a reputable company they will let you win the dispute thats what my bank told me. also contact dmv advise them of the drivers license copy was sent to fraudulent company to cover you in case they use it unlawfully. also add a fraud alert to your credit report to all three bureaus. hope this helps

  • Samantha

    I got my fake credit card about a month ago and noticed that it looked like a card that you would by your child to pretend shop with. Ive called the number on the paper they sent with the card at least 50 times and I always get transfereed to a voicmail that always says its full…hmm wonder why its full? They never return calls or check this voicemail! Well I closed out my bank account but my bank said that there is no way I can get my money back because I authorized them to take out the $99.00. Has anyone else had this problem???

    • Steve

      “….my bank said that there is no way I can get my money back because I authorized them to take out the $99.00…”

      That’s highly surprising. Most – if not all – banks would allow you to file a formal dispute based on fraud. Is this a big-name bank (Bank of America, City Federal, HSBC), or is this a small mom-and-pop bank? I’d ask to speak with a higher up, and file a formal dispute. If the bank is unwilling (or unable) to cooperate, I’d find a new bank.

  • Lauren

    I, too, fell victim to this horrible scam. Luckily a few days after I applied and payed my $99, I began feeling a little suspicious after checking out there site a little more (which I should have done in the first place) and decided to google the company. I couldn’t find a thing about this company besides a few reports of it being a scam. They are not a member of the BBB either. The company that supposedly finances them, duetschland financial, doesn’t even exist! These people need to be stopped. There has to be a way anyone who has fallen victim can come together and prosecute! Ideas??

    • Steve

      Have you attempted to get your money back?

  • http://www.ftc.gov www.ftc.gov
  • val

    The anacott financial # is out of service, so I caled alied wallets who processed the $99 dollar fee. I got my money refunded very easily. Just have ready the ast 4 of the credit card you used to pay the $99 and the date it processed. Their # is 1-888-255-1137. Good luck!

  • Monica S.

    I went online to research a credit card my son applied for. Being 18 he was trying to establish credit after graduating high school. I had already called the 1-215-268-7663
    #. I received a recording of options and being informed all mailboxes were full and to leave a message. I found Vals advice to call AlliedWallet who processed the transaction through my sons bank (1-888-255-1137). A representative named Andrew needed to know when the card was applied for, found the transaction information, told me within 7-10 business days a refund would be issued to the card his 99$ processing fee came from. I received a confirmation # for this conversation. Today is Feb. 1st all of this took 15 minutes. We will have to wait and see about refund. I will leave comment as to receipt of refund.( Also, when you call AlliedWallet they will try to give you a number for Anacott Financial which is one you may already have. I told them I tried that one and they will tell you that they no longer process Anacotts processing fee. The transaction took place
    in Sept. 2010 at which time they were processing fees for Anacott.) Anyway I will wait for the 7-10 business days.

  • Monica S.

    I made a complaint with the BBB an also looked the business up on BBB’s website—- BBB reports that Anacott Financial is out of business. Why is their website still online and allowing people to still fill out applications for a card that cannot be used. Not to mention the fact that BBB says that Anacott has gone out of business,again.

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