Texts from Mongo2500 at 545454

Did you receive a text from 545454 telling you that you were approved for a loan? You may want to read the fine print before entering the code they give you!

The text came from Mongo2500.com because you probably filled out an online prepaid credit card application.

A common text they send out reads: u r approved for $2500credit line!no credit checks!visit your2500.com to activate.approval code:(CODE) txtmongo321 to unsub. This text will arrive shortly after you’ve filled out a loan application online. The code being sent is unique to you and contains a link with personal information.

It should be noted that “your2500.com” and “mongo2500.com” are related. The “your2500.com” website is likely just a throwaway domain that Mongo uses to direct traffic to them. Indeed, after you enter your “Activation Code” from the text, you’ll end up at mongo2500.com.  

What is Mongo2500?
The website states that MonGo (short for “Money on the Go”) is a prepaid MasterCard that also offers rewards points. They claim that as a part of the approval process you’ll also receive a $2500 “Shopping Credit” which is where the “2500” part of MonGo2500 comes from. It isn’t clear what this shopping credit actually is or how you claim it. The website merely states, “$2,500 shopping credit to purchase 80,000+ name brand products at our online Rewards Mall.” So however the $2500 “shopping credit” works, it is only appears to be available when you purchase through them.

Membership Fees
If you continue past this point, you’ll be accepting a one-time $99.95 fee along with a $29.95 monthly fee for their “Money on the Go” membership, as stated in the terms:

By clicking the button below, I understand that I am enrolling into the Money On The Go membership program. I authorize Money On The Go to process a .07 cent ACH Credit and ACH Debit challenge transaction today to validate my checking account and to prevent fraud. I then authorize Money On The Go to ACH debit my validated account a one-time $99.95 enrollment fee three days later and $29.95 monthly thereafter for as long as I choose to remain a member. I understand that I may cancel my membership at any time by calling customer service at 1-866-263-2156. 

More Fees
Before you apply, take a look at the terms at the bottom, as there are even more fees listed. The prepaid “credit line” for which you are applying does not include a 25% required deposit. This means you’d need to put down a $250 on a $1000 credit line.

Mongo2500.com was created on 9/13/2010. Your2500.com was created on 9/14/2011. Curiously, both websites claim they are Copyright 2009-2010, though neither existed in 2009. Perhaps that is when it was designed, or an older template was used.

Unsubscribing
If you want the annoying texts to stop, their unsubscribe instructions may or may not work. It has been reported that texting “mongo321” to 545454 didn’t work for many people. You may want to try calling the phone number listed in the terms we included above. Unsubscribing from the texts should be of lesser concern than any other charges you may be paying – namely the $99.95 one-time fee along with the monthly charges – if you didn’t read the terms carefully enough. Some people fly through the application process without reading the terms, only to be surprised when charges appear on their bank statement.

Is Mongo a scam?
If you gave them information by filling out an application, it’s not a scam if the terms were clearly given upfront. It does appear that Mongo provides their terms and includes a number to call to cancel. That said, not everyone reads the fine print – which you should absolutely do when filling out forms online! Some people may have no problem paying the membership fees required by Mongo, though this writer certainly wouldn’t.

The inability to opt out of texts, however, is something Mongo needs to fix.

Be very careful with whom you share your bank information.

Have you received a text from 545454, Mongo2500, or Your2500? Let us know about your experience in the comments below!

Please DO NOT put your activation code in the comments below, as it will display personal information to anyone who enters it! Any comments including this code will be edited and the code will be removed.