Pre-approval Offers

by Debbie Vasen | More from this Blogger

16 Mar 2008 09:50 AM

Are you getting pre-approval credit offers in the mail? Try not to let them tempt you! The best thing to do with these is shred them quickly and toss them in the recycling bin.

Many people falsely believe if they receive many pre-approved offers of credit that their credit scores must be high. Many of these junk mail offers are simply fishing scams, as most companies don't check your credit history until after you actually say "yes" to their offer.

Generally, credit card companies get your name from marketing lists. While they do look for certain criteria, an outstanding credit score is not always one of them. Therefore, when one of these offers draws your attention, make sure to read the fine print. Their low-ball interest rate offers or special terms are often not a guarantee, just a teaser to get you to apply. Make sure you truly understand the terms before you agree to take on another card.

Given this, most offers will likely be trash. However, these solicitations can be gold for identity thieves. Typically, an offer such as this can be opened in your name more easily than other types of new credit accounts. It is therefore extremely important you dispose of these offers appropriately. You want the application and information to be completely destroyed, ideally with a shredder. At the very least, you should rip it up in tiny pieces before you throw it away.

If you know you don't want to receive these types of offers, it is best to opt out entirely. This will protect you from mail theft and the potential that thieves may steal them before they even arrive at your home. Opting out it easy, simply call 1-888-567-8688 and request your name be removed. This should lesson your junk mail and even save a tree in the process.

Related Articles:

*Credit Scores and Life

*Victims of Identity Theft

*Identity Theft Prevention

Learn more about Debbie Vasen

Debbie Vasen is a published web content editor and writer, as well as a freelance writer for various print publications. In addition to blogging at Families.

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