Most people are bombarded by credit card offers, whether through traditional “snail” mail or via e-mail. Sometimes, these offers can yield great interest rates on good credit cards. Other times, these cards are not the best deal and can wind up hurting your credit or costing you hundreds of dollars in fees each year. So, when should you ignore these offers from credit card lenders?
First, read the fine print. Determine what the fees and interest rates are on the cards you are being offered. If the costs associated with the card are high, pass on the offer. You should also researchthe lender that is offering the credit card, to make sure that they have a good reputation and treat their customers fairly. There are some credit card companies that prey on individuals with less than perfect credit, but the good credit card companies are much more numerous than the bad.
Another thing to keep in mind is the age of your current credit card and loan accounts. If you have recently opened a credit account, you should probably pass on opening a new account right away. Opening too many accounts at one time can have a negative impact on your credit score.
If you are looking to improve your credit so you can qualify for better credit cards, or you just have questions about your credit, CRE Credit Services can help. At your first visit, a member of our team of financial advisors will go over your credit file with you. We can then provide you with some free credit advice and education based upon your particular situation. We can help you understand your financial goals and how best to reach them, so you don’t have to wonder if you are on the right path. Call us today and schedule your appointment!