Dangers of Pre-approved Credit Cards

by DeLadurantey Law Office, LLC on May 18, 2011

As soon as we reach the age of 18, the credit card offers come pouring in. Credit card companies like to target people who are likely to open new accounts. Most companies research information on who would be a good candidate for a new card, and send a “pre-approved” notice out to those individuals. Although it is tempting to start a brand new line of credit with every offer, doing so can also be dangerous.

The Effects of Opening Pre-approved Credit Cards

Taking advantage of pre-approved credit card offers can be beneficial in some instances. For example, opening credit cards and keeping low balances can have a positive effect on a credit score.

However, irresponsibility with pre-approved credit cards can be dangerous. Opening many cards at a time is not looked upon favorably and accepting many offers can lead to high balances and financial difficulties in the future.

If you have found yourself suffering because of credit card debt, there is no reason to despair. Through debt negotiation, consolidation, or filing for bankruptcy, you can successfully recover from seemingly unmanageable debt. To speak with an experienced Milwaukee bankruptcy attorney about your options, contact the lawyers of the DeLadurantey Law Office, LLC, today by calling 414-377-0518.

 

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