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Research Card Companies Before Accepting
Pre-Approved Offers |
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If you have good credit, then you're probably
one of millions who receive countless pre-approved credit card
offers in the mail. On average, during the course of a year, you'll
receive around 30 of these offers.
Many of
these offers are sent from well-established institutions, but what
if you receive an incredible offer from an unknown bank? Would you
continue to pursue the offer? Or, would you want some background
information on the bank before signing on the dotted line? You can
get the information, and with the growth of the Internet, it's
quicker and more convenient than ever.
There are countless ways to search over the Internet, but for
starters, study the card offer closely. Make sure you agree with all
the terms before investing any time in further research.
Once you're sure the terms are good, log onto any search
engine, such as Infoseek or Yahoo, and type in the company name.
There should be a number of sites displayed referring to the company
you've inquired about.
Another tack to take is to log onto the web site that the card
is branded with. For example, if the card is a Visa, you can obtain
information at http://www.visa.com. Click on the link "get a
card" and select the country you live in. Then click on the
first letter of the banking institution, and you'll see a list of
institutions. Then click on the institution you're interested in,
and this will lead you to an overview of the company. Similarly, http://www.mastercard.com will link you to
institutions that carry the MasterCard logo.
The organization that sets the standard in determining
businesses credibility with customers is the Better Business Bureau
(BBB). You can access the information this agency provides over the
Internet at http://www.bbb.org.
Since there are BBB offices located
throughout the United States, you may need to look up your local Bureau to receive further information.
What's in a BBB Business Report?
Business reports contain information found in the BBB's
database. Usually, the report will consist of:
- The length of time the company has been in business or known to the Bureau;
- A company's complaint history, particularly whether or not there are unanswered or unsettled complaints, or other problems;
- Special information developed through Bureau investigations;
- BBB's can also report whether the company is a member of a particular Bureau, or participates in any special Bureau programs.
If you wish to obtain more information from the BBB, contact
the Council of Better Business Bureaus online at http://www.bbb.org or by mail at 4200 Wilson Boulevard, Suite 800, Arlington, VA 22203-1838.
There are a variety of ways to obtain information about businesses, including grantors
of credit. In addition to the options above, you can contact the
State Attorney General of the state the company resides in to see if
there are complaints. If you're unsure of where the institution is
based, read the fine print; it is often in a different location from
the billing address.
With all of these strategies for learning about a company that
offers you credit, you can be sure that the next pre-approved card
you accept comes from a trustworthy source that will be a solid
credit partner for you.
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