carloso117 asked:
I’m seventeen, and i have both a checking account and a savings account. I got my statement in the mail and it said that i could go online and get a student bank of america visa credit card. I filled it out and of course it didn’t go through because i put that i was seventeen. I figured if I put that I was eighteen it wouldn’t go through so I put that I was eighteen. The next screen told me that my application would be reviewed and within the next thirty days I’d get an answer. Turns out they accepted it and now I’m going to get a credit card in the mail soon. I found out that this is fraud today, so I don’t know what to do. If I don’t activate it can I get in trouble? If so, what do I do?
http://1mortgagecalculator.info
I’m seventeen, and i have both a checking account and a savings account. I got my statement in the mail and it said that i could go online and get a student bank of america visa credit card. I filled it out and of course it didn’t go through because i put that i was seventeen. I figured if I put that I was eighteen it wouldn’t go through so I put that I was eighteen. The next screen told me that my application would be reviewed and within the next thirty days I’d get an answer. Turns out they accepted it and now I’m going to get a credit card in the mail soon. I found out that this is fraud today, so I don’t know what to do. If I don’t activate it can I get in trouble? If so, what do I do?
http://1mortgagecalculator.info
First of all, it *is* fraud. The reason for the 17 vs 18 rule is that a contract is only legally enforceable if you are at least the age of majority… 18. If you’re 17, rack up a lot of debt and don’t pay a credit card, then the bank cannot collect from you because you are not of legal age to enter a contract. That doesn’t mean you are off the hook though. By putting that you’re 18, you can end up in court and juvi for fraud and misrepresentation with intent to defraud.
I would suggest doing this..
1) When you get the card. Call the customer service people and tell them you had a typo on your application and you’re really 17 and you’re sorry for the inconvenience. They will verify if you tried to charge anything and then will promptly close your account.
2) CUT IT UP. Do *NOT* use it.
3) Wait until you’re 18 then apply for a credit card with a small limit so you can start building your credit.
I hope that helps.
The best thing for you to do is to call the credit card company and explain the situation. If you’re honest about it, you may not get in trouble.
Getting into debt at seventeen is your first mistake. Do not activate the card. Shred it. Go on line to daveramsey.com and get some financial education. Credit cards can ruin your life.
Just cancell the application and shred the card. If you use the card you will be liable for any enrichment especially since you defrauded the creditor..
OK, you got yourself into a big mess, and you now realize how big it is.
Let’s see if we can get you out of it without the credit card company pressing criminal charges.
First, DO NOT ACTIVATE THAT CARD.
That may not get you completely out of trouble, but at least it shows that you’re not, now, trying to defraud them, and it prevents them from actually losing any money.
Second, once you get the card, call their customer service center, and explain it to them.
If you don’t tell them the truth, the whole truth, and nothing but the truth now, you will be telling it in front of a jury, when you’re tried as an adult for criminal fraud.
If they’re not willing to just call it a big mistake and forgive you, then you’re going to need to talk to a lawyer.
Maybe not hire one, but you’ll need to talk to one for an hour, and pay him his $300/hr rate for his time and expertise.
Just chalk up the $300 to “stupid tax”, and if that’s all you end up paying, consider yourself lucky.
Technically because you aren’t 18, you can’t enter into a legal contract, but if you used the card, you’d definitely be guilty of fraud.
Cancel the application for that credit card and when you do get the card CUT IT UP!!! and never apply for a credit card with them again! Your sitll a minor..minor’s cannot have a credit card..just wait till u are eighteen plus why do you need a credit card now ITS JUST A WAY TO GET YOU IN DEBT!! I am assume you are still in highschool and living at home right??