Credit card offers making rounds both online and offline promise you maximum benefits that you simply cannot ignore. But while they look attractive, they do not necessarily mean that you get what is promised. There are fraudulent offers that may take your finances away rather than help you out. Below are the common fraudulent credit card offers that you should be aware of.
1. You can get a credit card even with bad credit history. There are credit cards that are designed for people with low credit scores. But they usually require the applicant to make a deposit or choose a secured card. This is because in reality, issuers do not offer cards to people with bad history in credit since they are of high risk. To avoid falling as a victim to fraud, ask details about the offer and how they can erase the bad history.
2. Credit card companies repair bad history. The truth is you can repair your history on your own without paying high fees. Simply ask the Consumer Credit Counselling Services how to go about repairing your credit history. They provide free guidance or may require minimal fee for the services.
3. Upfront fees cost hundreds of dollars. Card offers usually do not require upfront fees. In case there is, it should be very minimal.
4. Agencies can give you high chances of obtaining credit cards. It is not necessary that you can get the best offers through brokers or agencies. You can actually get the best deal directly from the issuer.
5. You will immediately be qualified for gold and silver cards. Usually, gold and silver cards refer to increased credit limit or privileges if you have consistently managed your card. If ever you get one immediately, it is for the use of acquiring pricey items that you can get from the company’s catalogue. Most of the time, it is just about the color of the actual card, but not necessary the privileges that you have imagined.
Of course, there are also legitimate offers that may be right for you. You just have to research about the reliability and the legitimacy of the offer. Learn the terms and conditions that go with the benefit. Bear in mind that “too good to be true” may not be what it seems especially that companies are now cautious in lending money.
The next time you receive offers for credit card through mail, emails or call, do not fall for it easily. It is best to learn first the details. Also, see if you can manage more cards. Otherwise, you might end up in a struggling state in the long run.