Complaint Review: First National Credit Aliso Viejo CA/ Pre-Approved Gold Card

I received a letter guaranteeing a gold credit card with a $15,000 line of credit. All I had to do was sign and mail in the certificate along with $37. I found this offer to be odd. There was no web address or phone number to contact them for questions. The envelope mailed to me had a stamp but it had not even been canceled out by the post office. I found that to be slightly strange. There was a line below Mr. William Roberts from the Approval Department stating "This approval is fully enforceable under applicable federal law and the laws of the state of California. No application or credit check is necessary when you sign this acceptance certificate. Please see terms and conditions included in your membership package." There was NO membership package to refer to for this information. In addition, the blue box at the bottom stated "$15,000 line of credit and a 12-month 0% Annual Percentage Rate (APR)*" I found 0% for a year to be pretty unbelievable so I looked at * here's what that part said "*After 12-month period, an APR will be charged at prime plus, or approximately 11.24% based on the prime of 4.75%" There are no credit terms at all given for this credit line. The statement that the APR will be charged at "prime plus" is omitting very important information. Prime plus...WHAT? If you assume by what they are saying, then the plus would be 6.49%. However, they do NOT state that the additional amount is 6.49% so I would be very wary of this. They could possibly charge a higher rate since they did not specify the difference. I'm not filling this out and sending it in. It sent up too many red flags. I'm glad I looked it up on the internet and found this site since their web site does not work. It's nice there's a place out here where you can get the truth! Angie Charlotte, North Carolina