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Think about it.. have you ever heard of the term fraud? That is what is usually invoked when a "Dead Person" obtains credit and uses it. This happens a lot with credit cards where a person dies and usually a family member or close assocaite fo the dead person decides to open an account in that persons name and use it to his or her advantage.
This type of behavior is called credit card fraud and is usually found out by the credit grantor and dealt with accordingly. Usually the crime carries stiff penalties including jail time but for first offenders probation and restitution usually is what is ordered. This is also based upon the dollar value of the crime usually the degree of the felony charges are based upon how much money the creditor was cheated of or was charged to the card. You have to refer to your states criminal code for that answer.
Incorrect. It is not fraud if you make all your payments and don't skip out on your bill. It is identity theft, which has not been illegalized in all jurisdictions. Stop lying to these people.
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∙ 13y ago
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What financial requirements have to be met to obtain and use a Sears Credit Card?
There doesn't appear to be any requirements financially that need to be met by a person to obtain a sears credit card. The website actually offers cards without credit checks.
How Credit distinguished from credit volume?
Credit is the power to obtain goods and services in exchange for a promise to pay for them later while credit volume is the amount or in some other cases the maximum amount that an individual is able to obtain. For example, a person who has a credit card with a credit limit of 50,000 will not be able to use the card for credit purchase higher than 50,000. Thus, ten persons with a credit card limit each of 50,000 will have an aggregate credit of 500,000.
Where can one obtain a merchant account credit card?
BluePay is a huge credit business that many businesses use and get information from to help pay and/or get money for their business. It is almost always businesses that obtain and use merchant account credit cards.
Is it fraud to use fake name and number to obtain credit?
Yes
Free credit report with out credit cards?
Credit reports determine your credit score based on your credit card usage. Without a credit card, you'll be unable to obtain a credit report. If you are of age, it is best to obtain a credit card and use it responsibly in order to build good credit. Good luck!
What if person uses deceased persons credit cards?
The use of a deceased person's credit card would constitute credit card fraud. Unlawful use of a credit card is a criminal offense.
Is it legal to use a child's name to obtain credit?
No, it is illegal to use a child's name to obtain credit. This is considered identity theft and can have serious legal consequences.
Where could someone in need of a loan but with bad credit obtain finance?
There are a few ways that someone with bad credit can obtain finance, The first is to use a home equity line of credit and you could also apply to credit unions or receive a peer to peer loan.
What is the maximum credit score one can obtain?
According to the FICO the highest possible credit score you can obtain is 850, but if you use another credit scoring formula Vantage Score the credit rating can go all the way up to 990. FICO is the mostly widely used
How can I build my credit with a score of 0?
First, credit scores don't go down to zero. The only way to improve credit score is to obtain credit, use it wisely, pay it on schedule.
When might one want to use a credit card?
A person might want to use a credit card for making various purchases. For example, a person might use a credit card to purchase a TV or pay for his/her bills.
How does one go about obtaining your credit score?
There are a number of websites one can use to obtain one's credit score online. One can get their credit report from 'AnnualCreditReport', 'Experian' and 'FreeCreditScore'.
