General Warning about Revolution Money Exchange

[jkwest]

I wanted to post this here since some of the cross forum sellers and traders have started to offer Revolution Money Exchange as a way of buying and selling stuff online.

They have a special going on right now that if you sign up, they will give you $25 credit in your account. And, if you get someone to join using your invitation, then you get a $10 credit to your account.

Here's why I am posting this warning.

This company is an online credit card company! You are required to give them all of your information:
Name
Address
Phone #
SSN( yes, really)


They then run a credit check on you! This will show on your permanent record as a record check query. It is just like a credit card company checking to see if you have enough credit to open a card, or a car loan company. Please, do not be fooled into thinking that this is another company like PayPal. Paypal does not check credit history and they cover their customers by charging a small fee with every transaction.

If you are uncomfortable with your personal information getting into the wrong hands, I highly suggest against using this new service that was started up by a credit card company and is still in Beta testing!! If there was ever a chance of your personal information getting stolen online, then, I strongly feel that this could be a very easy way of it happening.

If you have had past experiences with this company that are fine, more power to you. Good luck in the future.

I just feel that this company is hiding its true roots from the General Public by not stating what they really are.

If the Mods feel that this does not serve a purpose here, by all means delete or move it.

Thanks.

[sunstar715]

thanks for the warning, but i had to give paypal all the same info, including ssn, but again thanks for the warning for new users so they dont get all the way to that part lol then realize they have to use their ssn

[TomSelleck]

http://prosperlending.blogspot.com/2...equire-my.html

[Chickengas]

They don't need your SSN. Paypal never asked for mine. Sounds like they want to do more than set you up with fast convienient way to transfer money.

I'm avoiding it.

[project-blu]

paypal doesn't HAVE to ask for your SSN, but to be verified, or to have a premier account, you have to, if i recall correctly.

anyways, i'm moving this into bargains. it is a relevant topic of conversation concerning purchasing of hdm, especially due to the 25$ free being called a bargain, and the referral system. but it isn't a trade thread, so, no harm, no foul, just a move!

[intoxicated662]

I closed my account. Yet, I tried to login and it worked. Weird! I figured once you closed an account, you wouldn't/shouldn't be able to access it at all or login.

[project-blu]

Originally Posted by intoxicated662

I closed my account. Yet, I tried to login and it worked. Weird! I figured once you closed an account, you wouldn't/shouldn't be able to access it at all or login.

actually, not so. AOL, you can close your account, but if anyone knows your password, if they log in, bam, you're being billed again as an active user. (least, that's the way it was when i left those jerks YEARS and YEARS ago).

another site i'm on, i deleted myself, kept getting the emails, clicked one, and magically, either i was undeleted, or never even deleted.

these sites don't want to lose members/users, so they sit it up this way. very smart, actually. when i'm done w/ a site now, i scramble a pw (keyboard jibberish), then copy it so i can confirm my jibberish, then clear my copies, so i lock myself out. but that doesn't stop an account from being active like an RME, just prevents anyone, including myself, from logging in.

[TomSelleck]

Well considering the co-founder of AOL started RME I can believe it is a hassle to actually close the account...lol. But still I think the site is legit and trustworthy.

[Flyfrnk1624]

"Account issued by First Bank & Trust, Brookings, SD, Member FDIC and part of the Fishback Financial Corporation."

There should be no question about the site being legit

[wg4ever]

It is the future of credit cards & safer than a regular CC. It is just young, but adding merchants all the time.

[jkwest]

I never stated that the site isn't legit. I just don't think people realize it's a credit card that they are pretty much signing up for. in the future, if they offer a card, bam...you just need to click ok. They have everything on file. You already have a pre-existing number and some younger people could get into serious credit issues fast if they aren't careful.

This thread was solely meant to inform people....

Thanks.

[Bill G]

I have checked my credit report recently and they never checked.

[RichGardner]

Yeah, you do not have to give Paypal your SSN unless you want to start earning interest on your balance.

[project-blu]

Originally Posted by RichGardner

Yeah, you do not have to give Paypal your SSN unless you want to start earning interest on your balance.

incorrect. there are numerous kinds of accounts on paypal, and some, not just the interest ones (due to tax purposes, a 1099-i), require a SSN. my SSN is on my paypal, and i don't do that interest crap, as, honestly, i've had problems w/ pp and don't trust them w/ my money, so i don't keep a balance often if ever.

[Lightbringer]

Originally Posted by jkwest

I never stated that the site isn't legit. I just don't think people realize it's a credit card that they are pretty much signing up for.

They actually offer a Revolution Card that is completely separate from the Money Exchange. Different process and a separate sign in. So, Revolution Money Exchange is not a credit card, since that would defeat the purpose of their Revolution Card. money Exchange is just their competitor to PayPal. If people don't feel comfortable signing up, then don't. Plain and simple.