- September 8, 2023
- Posted by: legaleseblogger
- Category: Related News
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Has anyone else ever heard of anything like this?
Recently, when my wife ran a credit report, she came across a perplexing situation. To her surprise, there was a Bank of America credit card listed with a relatively low credit limit that she had no knowledge of. To get a better understanding of the situation, she promptly contacted Bank of America for further information. What she discovered was rather strange – the credit card had been applied for using her maiden name, but with our current address. Strangely enough, the card had never been activated. Although she successfully managed to close the account, we are left bewildered by this entire ordeal.
Interestingly, my speculation is that this might be an example of an underhanded business practice. It appears that credit cards are being sent to individuals without their consent, encouraging them to use these cards to accumulate debt. The peculiar aspect in our case is that my wife never received the actual card itself.
In light of this situation, it becomes imperative to seek assistance in understanding the complex legal jargon involved in the credit card industry. This is where AI Legalese Decoder can prove to be an invaluable tool. AI Legalese Decoder is an artificial intelligence-powered solution designed specifically to decipher legal language and terminology. By inputting legal documents or credit card agreements into the system, it provides clear and simplified explanations of the contents, ensuring individuals fully comprehend the terms and conditions.
Utilizing AI Legalese Decoder could greatly aid in unraveling any potential contractual obligations or hidden clauses that might have been associated with the mysterious credit card. It would allow my wife, and others facing similar situations, to better assess whether there has been any wrongdoing on the part of the credit card issuer.
Therefore, if anyone has experienced a similar occurrence, utilizing AI Legalese Decoder could prove invaluable in untangling the legal complexities surrounding unwarranted credit card applications. With its assistance, individuals can better navigate the intricate web of legal documents and protect themselves from potential financial harm.
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****** just grabbed a
BofA just had a lawsuit in regards to BofA employees creating new accounts without permission of customers to meet sales quotas. I just read about it a few weeks ago.
https://www.usatoday.com/story/money/2023/07/11/bank-of-america-lawsuit-settlement-2023-fines/70402355007/
Yes I work in credit card fraud investigations and see this fairly regularly. How her information was compromised, there is no way of knowing for sure, but this is identity theft.
You already contacted the bank and told them this was a fraud app so they should have their own investigation going. That’s the first step.
Now, your wife needs to place a freeze on all of her credit reports because her identity has been compromised and it’s likely more fraudulent activity will start popping up. Better to be proactive before they use her credit to apply for something else.
Also, not a bad idea to file an identity theft report with local law enforcement. This creates a paper trail if anyone attempts to use a fake id or other stolen identity information to apply for a fake DL or state ID or in the commission of a crime. Idk that law enforcement actually does anything, but it is good to create that paper trail and get ahead of it instead of trying to play catch up later.
Best of luck
Have your wife freeze her credit. She can unfreeze anytime she needs. Make sure to do it with all 3 credit bureaus.
BoA had a lawsuit filed against them for various things their employees did, including opening unauthorized credit cards.
BOA did open up accounts fraudulently. Huge fines and [money owed to customers](https://www.cnn.com/2023/07/14/business/bank-of-america-fine/index.html)
BOA prob opened the account in your wife’s name to pad numbers. They did this to my wife while she was in college , and did not find out until she graduated and started running credit reports. Card was unused for 4 years before she found out.
Wells Fargo and Bank of America have both been in trouble in the recent past decade for opening accounts without permission.
In case the ID theft call is coming from the bank
Contact your states department of banking authority and file a complaint. While at it, file with CFPB aswell. Banks like Wells Fargo and BoA have been caught opening fake accounts without customers knowledge. ItÔÇÖs how they boost their numbers to show they had increase in amount of new customers. Banks are crooks. Take your business to a local credit union. ƒÿü
Maybe BOA bought another financial institution and now the trade line reports as BOA? I know they bought MBNA and they were a huge issuer.
There was that whole thing with Wells Fargo where sales people were getting spiffed for cross selling products. So they would open credit cards, checking accounts, etc for the bonuses. Over and over, “everyone is doing it”. Then the whole thing blew up. Might be something like that, not even ID theft per se.
Probably the Bank of America employees creating accounts to get bonuses.
This is the second time Bank of America has been caught doing this.
Bank of America and Wells Fargo do this stuff all the time. wait until they get caught, admit to nothing, and pay the fine.
Sometimes the bankers open them to earn sales credit, wf did them a lot
This was opened by someone at some random Bank of America without your permission in order to meet some sort of quota so that they could get their bonus. This has been going on for many years. It happened to me when I was very young, except I received the credit card and proceeded to max it out like an idiot. At least I learned my lesson young. This is also a great opportunity to remind everyone to FREEZE THEIR CREDIT!!!
If by slamming a CC on your wife’s BOA account by BOA is considered a scam, then yes. They are a great bank until you have the most minor of problems. Get out while you can.
Does anyone, say a family member or a friend, know your wifeÔÇÖs SSN? I knew someone who found out their parent opened a CC using their SSN. ItÔÇÖs identity fraud and should be reported.
Wait is it just to pad their quota numbers ? When people find out and close – that would impact peopleÔÇÖs credit score innit ?
Talk about double dipping !
Wasn’t BoA the bank that was busted for opening credit cards on people’s accounts without them knowing? Wasn’t this just in the news?!
It was BOA. They created it without your knowledge.
if it was WF, BOA or several other big banks, then YA… 100 percent they took it out in your name. they were caught doing it for millions of their customers…..and no, very little happened to them when they got caught.
but you should assume that someone got in…..so just to be safe….change everything security wise.
I had a Discover card opened under my name/address. It arrived in the mail and I called to close it. Sometimes people will open a card if they have your personal info, add themselves as an authorized user with a different address for another card to be mailed to. If you don’t notice it (think it is junk mail) or whatever they then run up the limit.
My wife once had a card we didn’t recognize under her maiden name. It turns out it was for an account set up as part of her work’s healthcare plan- some sort of healthcare savings account or high deductible plan account or something.
I don’t suppose the time the account was opened roughly correlates with an old job she started?
Didn’t BoA and Wells Fargo open up new accounts for existing customers to fake their bottom line? This sounds like someone at BoA got a bit aggressive on business activations.
Should have asked when the account was opened. If it was within the last few weeks I would suggest freezing accounts and credit. If it was a year ago then id say youre probably in the clear.
You may find these links helpful:
– [Credit Building](/r/personalfinance/wiki/credit_building)
– [Credit Reports](/r/personalfinance/wiki/credit_reports)
– [Credit Scores](/r/personalfinance/wiki/fico)
– [Credit Cards](/r/personalfinance/wiki/creditcards)
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For this scam, where does the card go? Did you never receive a credit card in the mail?
I actually got a new BofA credit card last week in the mail. IÔÇÖm gonna look into it aswell.