• May

    How to Deal with Pay in Advance Credit Card Offers


    Here’s the pitch: You receive a message that you’ve been pre-qualified for a low-interest credit card or a loan. Another pitch is to repair your bad credit if you’ve been denied. The catch is that you have to come with a processing fee that could amount to hundreds of dollars. If you think about what’s been offered, you’ll probably realize it’s a scam. If you don’t think about it, you might get caught.

    The reality is you still have to fill out an application and you still might be turned down. If you paid that money up front, you’ve just been scammed.

    There are some fees that some credit card companies charge, but it’s rare that this happens up front. These fees would likely be paid to the bank, not to the person who arranged for the application and would happen after the application has been approved. Also, no lender will guarantee your acceptance before you apply so if someone says they can do this, avoid them.

    Forward unsolicited email containing credit offers to spam@uce.gov.

    © Nathan Segal

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