Choosing A Credit Card, Credit Card Articles, Using Credit Cards - Tuesday, September 18, 2007 23:33 - 0 Comments

Pre Approved Credit Cards Offers

We’ve all seen it before. Every day the country is littered with millions of envelopes a day all touting the same message. “You’ve Been Pre-Approved!” The letters inform you that you’ve been pre-approved for a credit card and all you have to do is submit all your personal information to them either online or via the mail and you’ll instantly be granted access to a credit limit of multiple thousands of dollars.

But are you really going to get pre approved credit cards? Probably not.

Pre approved credit cards marketers that use these types of offers gain access to your information in many ways. Most use small print on forms that you fill out with your personal information that allow the form owner to “share” you details with “partner” companies… and that’s where they get you.

Pretty soon your mailbox is literally stuffed full of pre approved credit cards offers that claim you are magically pre-approved. For most, there is no way to stop them and even if you apply and are denied the letters will keep coming. The types of pre approved credit cards you are offered will depend on things like where they initially got your information. If you applied for a loan then the type of offers you receive will be based around your results (good credit score, bad credit score). Next it depends on your current income bracket, the pre approved credit cards you are offered will almost always be based around your annual income.

Notice: We recommend the Discover Business Card. To view all credit card offers click here.

The problem with these pre approved credit cards and secured offers is that most carry very high interest rates that are much higher than unsecured credit cards and most carry very few, if any benefits or rewards at all.

Whether or not you apply for any of these types of pre approved credit cards is your decision. If you do, be sure you research the company that sent you the offer so you can be sure that you’re dealing with an established and reputable company. Sometimes a simple Google search for the company’s name with the word “scam” afterwards can dig up any posts on the internet about bad customer experiences with the company in question. The last thing you want is to submit your information to a fraudulent company and put your safety at risk.