Are you one of many receiving unsolicited "pre-approved" credit card offers in your mail? What do we do with them all?
If you are looking for a credit card, this may be a relatively easy way to get one. But, don't be fooled by the words, "Pre-Approved". You still have to submit an application for evaluation before you receive the card. Also, see our Reference Library article entitled, "Credit Card Shopping Checklist" to make the best decision.
Caution: Don't be lured into another credit card if you already have reached limits or have unpaid balances on your existing cards. Even if you get approval for this card, It will further damage your credit rating and dig your financial troubles even deeper. Credit card companies make most of their money from your finance charges and they are happyt when you are paying high-interest on unpaid balances.
To learn more about protecting your personal interests in the use of credit cards, see articles in our Reference Library entitled, "How to Make Credit Cards work for You" and "Make Credit Card an Asset".
These unsolicited credit card offers arrive because your name is constantly being sold by one company to another. The credit bureaus sell lists of potential names to credit card or loan companies, and every time you buy something, your name gets onto some list that may be bought or sold. The result, in general, is "junk mail".
If you are not interested in these offers, you may simply throw them away, but either shred or tear up the information before tossing into the trash. If you find this really irritating, you may call toll-free 1-888-5OPT-OUT (1-888-567-8688) to get your credit file blocked from being sold by the credit bureaus.
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