Industry Tips
Credit Card Offers
Many third party credit card offers involve a fee just to get an application.
You may also need to deposit money in an out-of-state bank before getting your credit card. This money will serve as a credit limit or collateral for your account.
Other companies may send a credit card, which can be used only to make purchases from the company's own merchandise catalog, rather than the expected Visa or MasterCard.
As with any credit card firm, consumers should read and understand the original agreement prior to signing. Consumers should note in the agreement clauses that contain information regarding any possible sale of the account; difference in rate changes due to consumer credit issues and how/when an account may be closed. The BBB recommends consumers keep the original copy of their written agreement and not discard any future information sent from the company prior to reading. As a matter of law, if a credit card company denies or closes your account, they must provide you with information on how to obtain a copy of the report they used in making their decision.
Further Information - Send Self-Addressed-Stamped-Envelope to BBB, 408 N. Church St. Suite C., Greenville, SC 29601. Request Tip Sheet - Third Party Credit Card Offers
Obtaining and Using Credit Cards
Tips on Consumer Credit
