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  #1  
Old 10-15-2006, 02:24 PM
tater03 tater03 is offline
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Default Credit Card offers coming out of the woodwork?

This just drives me nuts. I currantly don't have any major credit cards and don't want any. The last time I applied for a credit card I was denied do to bad credit. The thing that gets me is I just recently bought my first home and everytime I go to the mailbox there is another credit card company that wants me to sign up for their card. What do they think that because I have a house that I will now be able to afford to have a credit card? That I magically have become better at my finances. I am so glad that I have learned my lesson when it comes to credit cards or I might be enticed to accept one of them. But I know that I am not good with them so I just stay away and don't even put myself in the situation of getting in debt to credit card use.
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  #2  
Old 10-18-2006, 10:26 AM
katharina katharina is offline
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Default Re: Credit Card offers coming out of the woodwork?

I've been getting more than the usual amount of offers lately, too. I suppose this time of year it's because they think people will apply for the card to do Christmas shopping. I'm expecting another onslaught of offers the first couple months of the new year when many struggle with paying off the holiday bills.
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Old 10-26-2006, 12:40 PM
bangfor bangfor is offline
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Default Re: Credit Card offers coming out of the woodwork?

If you've bad credit it's tough to get mortgage loans if not impossible, and if you pass that hurdle the signal is your credit rating is good to apply for a credit card.
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Old 10-30-2006, 08:09 AM
brian brian is offline
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Default Re: Credit Card offers coming out of the woodwork?

You can get loans and credit if you have a bad credit rating - the problem is, you get absolutely screwed for interest rates. Bad credit loans are actually one of the most profitable areas of finance, because

a) The lender wouldn't lend if they didn't think you would probably pay up
b) The lender can hit you with higher rates because of the (often slight) increased risk factor
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Old 10-30-2006, 03:03 PM
tater03 tater03 is offline
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Default Re: Credit Card offers coming out of the woodwork?

That is what confuses me on the whole thing though. I had been denied for a Walmart credit card do to bad credit but then three months later we get a mortgage loan. Go figure. But you are so right on the interest rates. You really have to make sure you don't get shafted on the interest rate.
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Old 11-24-2006, 11:48 AM
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kelkat kelkat is offline
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Default Re: Credit Card offers coming out of the woodwork?

Great site about credit cards, the interest, and the traps.

Just as the holiday season gets ready to kick into high gear, Consumers Union is warning shoppers about the increasing number of credit card traps that can trip up consumers and lead to spiraling debt. To help get out the message and mobilize support for reform, the group is releasing "It's Always Christmas Time (For Visa)," an animated satire that takes aim at abusive credit card fees and practices.

"You can find yourself buried in debt if you aren't careful to avoid the credit card gotchas," said Michelle Jun, Staff Attorney for Consumers Union. "Too many credit cards are deisgned to get you in debt and keep you there."

A must read for anyone looking to get into credit cards

Fraud, Phishing and Financial Misdeeds: Consumers Union Calls for Credit Card Reforms on the Eve of Black Friday
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Old 11-28-2006, 01:30 AM
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sweet_mayhem sweet_mayhem is offline
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Default Re: Credit Card offers coming out of the woodwork?

Quote:
Originally Posted by katharina View Post
I've been getting more than the usual amount of offers lately, too. I suppose this time of year it's because they think people will apply for the card to do Christmas shopping. I'm expecting another onslaught of offers the first couple months of the new year when many struggle with paying off the holiday bills.
my mother has been recently getting endless calls from various banking companies, enticing her to accept their credit card offers. besides the good credit history she has, i guess it's because of what you pointed out--the nearing of christmas day.
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Old 11-28-2006, 04:36 PM
riskey58 riskey58 is offline
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Default Re: Credit Card offers coming out of the woodwork?

I get credit cards in the mail all the time. I just throw them away. Years ago I really got into a mess by accepting all the credit cards, not looking at the high interest that they were charging, and it got me in a real bind. I will never do it again.
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Old 11-28-2006, 08:24 PM
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kelkat kelkat is offline
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Default Re: Credit Card offers coming out of the woodwork?

Quote:
Originally Posted by riskey58 View Post
I get credit cards in the mail all the time. I just throw them away. Years ago I really got into a mess by accepting all the credit cards, not looking at the high interest that they were charging, and it got me in a real bind. I will never do it again.
Don't just throw them away. There are people who dig through the garbage just hoping for some of these "to activate your account" kind of cards. We shred or burn any thing that we don't want to use!
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Old 11-29-2006, 06:05 AM
burfi burfi is offline
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Default Re: Credit Card offers coming out of the woodwork?

This is a great stance, if you know how disciplined you are. If you think you can't handle them then you should not be trapped in their lure.
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Old 01-23-2007, 05:50 PM
Chris Chris is offline
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Default Re: Credit Card offers coming out of the woodwork?

I know what you mean Tater, everywhere you go they are trying to offer you a credit card, at the mall, in the mail, etc. The other day I went to get money out of the bank and the teller would not let me leave until I heard her give a mini credit card presentation, I'm like can I just have my money, geez, give me a break!
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Old 01-24-2007, 11:03 AM
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taiarain taiarain is offline
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Default Re: Credit Card offers coming out of the woodwork?

We've had that happen at the ATM. We couldn't get our card out after completing the transaction without either opting-in or opt of a CC offer. It didn't last long, though. I think a lot of people complained rather loudly.
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Old 01-24-2007, 02:30 PM
4silverstrea 4silverstrea is offline
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Default Re: Credit Card offers coming out of the woodwork?

Quote:
Originally Posted by burfi View Post
This is a great stance, if you know how disciplined you are. If you think you can't handle them then you should not be trapped in their lure.
They are giving you credit cards thinking that you need to buy stuff for your house...then they make scads of money on the interest! Thatís a good point about throwing them out. I rip mine up first...but thatís only if my name is on it.
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Old 03-25-2007, 01:48 PM
Dru Dru is offline
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Default Re: Credit Card offers coming out of the woodwork?

Credit card invitations are generated by different events, one of those being a new home purchase. As a home owner, you are now a better credit risk because you have equity which can be tapped, either through a HELOC, or through sale of the property. Believe me, they have no problem suggesting these options when you get behind.
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Old 03-31-2007, 11:24 PM
tater03 tater03 is offline
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Default Re: Credit Card offers coming out of the woodwork?

I would agree make sure to alway shread them up before you throw them away. You are so right about being offered them at your bank. That just happened to me the other day. I am like no thank you anyway.
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