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Don’t fall for
promises that you’ll get a credit card even if you have bad credit.
Fraudulent credit card offers often target people who are having
credit problems and haven’t been able to get cards elsewhere. They
may promise to get you a card, but legitimate credit card issuers
generally don’t do business with people who have bad credit
histories.
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Don’t pay upfront.
Legitimate credit card issuers don’t usually ask for a fee upfront.
If there is an application or processing fee, it should be very small,
not the hundreds of dollars that con artists request. If there is an
annual fee, it appears on your first credit card statement.
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Be cautious about
emails offering to get you a credit card. Many unsolicited emails
are fraudulent.
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If your credit history
is bad, your best bet is to get a “secured” credit card. This
requires you to place a deposit in an account at the issuing bank
equal to your credit limit. If you don’t pay your credit card bill,
the bank will use your deposit to cover it. You may not get interest
on the account, but it’s a good way to start rebuilding your credit.
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A “gold” or
“silver” card may not be what you think. Sometimes fraudulent
credit card offers promise “gold” or “silver” cards from major
card issuers. What you receive – if you get anything at all – is a
gold or silver-colored charge card that can only be used to buy
overpriced goods from the company’s own catalogue.
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Apply for credit cards
directly from the issuers. It isn’t necessary to pay another
company to help you get a credit card, nor will it improve your
chances of obtaining one.
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If you have credit
problems, get counseling. Fraudulent credit card companies may
also claim that they can repair your bad credit for a large upfront
fee. But you can correct inaccurate information in your credit files
yourself for free, and no one can erase negative information that is
accurate. Your local Consumer Credit Counseling Service (CCCS) can
provide advice about how to build a good credit record. The CCCS may
also be able to make payment plans with your creditors if you’ve
fallen behind. These services are offered for free or at a very low
cost. To find the nearest CCCS office, call toll-free, 888- 388-2227,
or go to www.nfcc.org.
