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An easy way to opt out of credit card offers

David — Fri, 15 Feb 2008 17:52:32 +0000

Sick of receiving credit card junk mail? You can easily elect not to receive any further unsolicited credit offers by visiting Opt Out Prescreen.

Opt Out Screen wills stop most incoming credit card offers, although a few may still get through. Thatâ€™s because Opt Out Prescreen only stops credit solicitations that are based upon your credit report. Signing up on the website will opt you out of credit card offers for five years. You can also opt out forever in writing.

NH Attorney General Issues Warning on Credit Card Mailings

David — Mon, 22 Oct 2007 19:27:00 +0000

The New Hampshire Attorney General warned consumers Monday to scrutinize credit card offers that arrive with an unsolicited, ready-to-use credit card. Complaints have surfaced that a major credit card company aquired a department store credit card business and mailed customers of the department store credit card a new credit card without their knowledge. (Original article from Seacost Online). Many consumers mistook the new credit card for junk mail and discarded the live credit card, making them susceptible to identity theft.

The majority of consumers would have preferred the opportunity to opt out of receiving the new credit card.

If you receive an unsolicited credit card offer that you do not want, do not activate the card by calling the 800 number affixed to the credit card. Immediately call the issuing company’s customer service number to tell them you do not want the card and to cancel your account, then destroy the card.

Credit cards that are not activated will not appear in your credit report, but any card you do activate, even if you never use it, will appear on your credit history and could affect your credit score.

No pre-set spending limits explained

David — Sat, 20 Oct 2007 15:44:31 +0000

Many credit cards advertise “no pre-set spending” limits. But if you think you can just sign up for the card and go out and charge a Ferrari, watch out. No pre-set spending limit does not meet no credit limit. It means there is no pre-set spending limit.

The Fine Print

In fact, most no pre-set spending limit credit cards come with a credit limit. The card then gives the card holder the ability to exceed that credit limit in some instances if the amount of the balance over the credit limit is paid in full before the due date.

That means that credit cards with no pre-set spending limits will authorize each purchase on a case by case basis. Whether or not they authorize a particular transaction will depend on multiple factors including your account history, your current balance, your credit history, you income, and your financial assets.

Avoiding Your Limit

If you plan to make a big purchase on your no pre-set spending limit credit card, you may be in for a surprise, as the transaction can be declined.

To avoid an embarrassing situation, it’s best to call your credit card company prior to making any unusually large purchases or any purchases that will put you over your credit limit.

You can also negotiate a higher spending limit after using the credit card for a year or more. Your chances of getting a credit limit increase will be best if you charge a significant amount on your card each month and pay the balance in full. You’ll also need a clean credit history.

Compare and apply for no pre-set spending limit credit cards now.