| You have been bombarded with them. You get them | | | | obscene interest rate to return your own money to |
| through the postal service; they arrive in envelopes | | | | you. |
| from seemingly genuine banks and state that you are | | | | Then they claim they can also fix your credit report. |
| pre-approved for either a Master or a Visa card. Even | | | | Credit reporting agencies will be notified of timely |
| if you have bad credit, haven't paid all your bills on time, | | | | payments. Really! Whenever you apply for a line of |
| or have declared bankruptcy, you may be able to get | | | | credit, your credit rating will be checked. Credit |
| a credit card. | | | | reporting agencies will list any outstanding debt, unpaid |
| The companies are scams therefore these do not | | | | loans and bankruptcy. On the upside, they also view |
| matter. Do you really think these firms just want to | | | | your timely payments to creditors. Big deal. The |
| help you out? Do these companies really have your | | | | ultimate factor will be your previous bad credit history. |
| best interests at heart, and want to help you through | | | | They make 22% interest because you use their card! |
| your tough times? Not a chance! These people are | | | | No matter what, they are guaranteed the money that |
| after your money. They don't care about you. | | | | is owed given the fact that if one defaults on their |
| This is how it works. You are asked to send some | | | | payment to them, they will simply take the money that |
| money to receive an application that will provide you | | | | was deposited, as well as, any interest that was |
| with names and addresses of financial institutions willing | | | | accrued. Talk about having it both ways. |
| to issue you VISA or Master card without any credit | | | | Do you really want to pay $100 for a credit card that's |
| approval. Why pay for something as worthless as a | | | | only worth $100? Just purchase what you want with |
| piece of paper? You get an application containing | | | | your $100. That way you own it outright without |
| information about what to do next. | | | | interest payments and all the hassles. |
| Once you have been approved for a credit card by | | | | It is wonderful to have credit if you use it wisely. Credit |
| the issuing bank, you will be told to open an account | | | | is a must in certain circumstances to establish credit |
| there. This is when they hook you because you feel | | | | worthiness. Unless you can place the charge on your |
| you have finally found a bank willing to give you a | | | | credit card you cannot place a telephone order. There |
| credit. You are offered a credit card with a line of | | | | are reputable financial institutions that don't charge an |
| credit equal to your deposit of $200 or more. | | | | arm and a leg. You just have to look around for the |
| You need to think about it with an open mind. Would | | | | best deal. |
| you let a person borrow $5 if they gave you $5 to | | | | I hope this article informed and helped you. |
| begin with? Only a con artist would charge you an | | | | |