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Beware Of Credit Card Scams
If you are one of those people with bad credit or no credit at all, the ads that offer credit card approval can seem like a dream come true. However, that dream can soon turn into a nightmare if you don’t read the fine print before signing the contract.
Lots of times, the scam starts with a phone call, letter or postcard, which claims that you are eligible for a major credit card. Most of the time, the offer says that you are pre-approved and that you can receive the card without a credit check. They will then charge you an upfront fee that tends to range anywhere from $30 to $50.
When you finally receive your card, you find out that it can only be used to pay for orders from a specific store or catalog. Usually, the company that issued you the card is the owner of the store or catalog. The merchandise that they offer may not even be of any interest to you.
The problem is that these credit card offers are very misleading. The applicant is lead to believe that they will be receiving an all-purpose bankcard when in fact they are not. The merchandise in the catalog tends to be extremely overpriced.
However, you can protect yourself from these shady credit card offers by being careful before signing up for a new credit card account. If you have poor or no credit, be suspicious if you are offered a pre-approved credit card with no credit check. Always ask questions and DO NOT pay the upfront fee until you are aware of all the terms and conditions of the agreement.
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To avoid becoming a victim of credit card scams, look for the following signs:
1 - A call to a 900 number for a credit card. You will definitely end up paying for the toll call and may never receive a credit card.
2 – Offers of easy credit. Any legitimate company will have to review your credit before issuing you a credit card. Don’t be lured into 
companies offering credit cards with no credit check.
3 – Companies offering credit repair. These kinds of companies will charge you a fee to clean up your credit. However, the end result is usually you paying a fee and them pocketing your cash and doing nothing for your credit. You can correct errors on your credit report yourself by contacting the credit bureaus directly. Keep in mind that only time and being responsible with your credit can restore your credit worthiness.
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