Pre Approved Credit Cards in the past were offered to anyone and everyone! However with the credit crisis and chaos in our economy over the past few years this term has changed dramatically!
In the past and true to today - being offered a preapproved card means that you meet 'general' approval requirements for a credit card. In other words the credit card issuer has gotten your information from a list and it now trying to sell you to at least apply for their card.
Being pre-approved really means nothing - you can be preapproved all day long but at the end of the day the credit card issuer makes the actual decision - regardless of your preapproval status. In short being preapproved is an easy way for credit card issuers to generate applications and business.
If you have a less than perfect credit history or just an out right bad credit rating then we encourage you to take action to fix your credit report. Contrary to what the experts claim you don't just have to live with negative items on your credit report.
In fact Congress, your elected representatives, passed a law the Fair Credit Reporting Act that protects your right not to have a negative item on your credit report for any longer than seven years. This law was passed to protect you from the credit bureaus, and collection agencies from ruining your credit rating for an unlawful amount of time - granted this law is broken on a very regular basis!
Don't believe me do a quick google search for the name of any collection agency and lawsuit or settlement - almost ALL of these agencies have been sued or settled due to breaking the law. If for some reason you don't find a specific agency on there just give it a little time - a way these collection agenecies have found a way around this law is by changing their business name on a regular basis. For example - NCO Group a popular agency has also gone by the names; NCO, NCO Financial, NCO Financial Group, NCO Financial Systems ...
Unfortunately this is the name of the game! You can either be a victim or take action and ensure that you are protecting yourself, your rights and one of the most crucial pieces of information about yourself your credit score! Just to put it in perspective it is estimated that roughly 25% of ALL credit reports have an error on them - is your's one of them?
For a free credit consultation with the credit repair experts call 1-800-483-0256!
If you are suffering from a less than perfect credit history - then I'm sure you have discovered how essential it is to have a major Visa or MasterCard. In today's economy you simply don't have the same purchasing power without plastic. We suggest either a prepaid card this will not carry a credit check and you will not run the risk of going in debt as you can only spend what you have deposited on your card. Additionally check our our page about credit cards for bad credit. This will describe the options availiable to you and what option will meet your specific needs!
At the end of the day it's important to realize you do have options. You can find a major Visa or MasterCard regardless of your credit history. Additionally you do have options to fix a damaged credit rating without waiting seven long years. This is your life and your money - do you really want to waste it on fees, interest rates ... when you don't have too? Instead take a vacation of spend the money somewhere else where it's needed!!