Tips for Avoiding Popular Bad Credit Credit Card Scams

To avoid getting ripped off by prevalent bad credit card scams, we encourage you to keep the following tips in mind:

List of credit cards for people with bad credit-minDo your own research

An extensive research on the acceptable features of bad credit-credit cards can help minimize, if not completely get rid of, your risk of getting ripped off by popular scams. After all, your knowledge about the reasonable interest rates, fees and charges, credit limits, and application requirements imposed on credit cards for bad credit can surely assist you in steering clear from programs that carry suspiciously-good features.

Furthermore, your research on the prevailing rates and terms of bad credit-credit cards can surely boost your likelihood of finding one that will most definitely suit your needs, personal preferences, spending habits, and, most importantly, your financial capability.

Learn from the experience of other consumers

Bear in mind that reading the reports and accounts of consumers who got ripped off by credit card scams can help strengthen your resolve to avoid dealing with newly-established credit agencies as well as with illegitimate card issuers. Moreover, you can gain guidelines from their experiences, which you can eventually employ while scouting for and inquiring about the credit card deals offered in the market.

Search for companies that work closely with the credit bureaus.

After all, this won’t just help you achieve your goal of rebuilding your credit history, by means of employing responsible credit and payment habits. You should also remember that having close working ties with the credit reporting agencies can serve as sufficient proof that indeed the credit agency is accredited by the federal or state government to extend lines of credit, especially bad credit cards, to consumers, like you.

Run background check

Make it a habit to run background checks not only on your target card issuers, but even to the firms you wish to do business with. Always remember that conducting personal investigation on such companies can help you realize where it would be safe to disclose your highly-sensitive information both in credit application forms as well as in shopping sites. In so doing, you can avoid becoming a victim of identity theft and credit fraud. At the same time, you can safeguard your credit history and even your financial prospects.

Know your rights

A lot of scam artists and fraudsters today take advantage of cash-strapped consumers, who are desperate to find and receive urgent lines of credit. Apart from imposing very steep rates of interest on the credit programs they provide, some may also require you to make excessive payments on processing, administrative, application or activation charges.

Still, you should remind yourself that you ALWAYS have the option to turn down such offers. In fact, by invoking your rights as mandated by the federal laws, you can surely prevent predatory lenders from taking advantage of you.

So, research on your special privileges as a credit consumer, as soon as you can. Then, let your knowledge about them help you find card issuers that will not only provide you with the credit card program you need, but also those who will honor and uphold your rights, despite your fair or poor credit history.



Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

  1. Americans are creating more and more consumer credit debt, and it is sending them running for cover of payday loans, or ill-advised use of the credit cards, which gets them more credit card debt. However, many don’t know the difference between a good debt and a bad debt. Bad debts are when you purchase something on credit, and then after you’ve paid the creditor back, the thing that was purchased does you no real good. A brand new car is the worst of these offenders, as they lose thousands once off the lot. Good debt is debt that after incursion will make you money in the long run. The best examples are mortgages and educations. A college education guarantees that you will out earn those with only diplomas, and a home appreciates in value over time. The more you’ve paid down the mortgage, the more of the home you own, and the more equity that you have. Payday loans can be good debt, if by using one you stave off a late fee or overdraft charge.

  2. One of the biggest financial issues that most Americans face is the specter of debt. Having debt is part of our life but it has limitation. We should know how to pay our debts on time because if not, we will be having a bad credit record. And we might encounter problems in it. Credit consumer debt is at pandemic levels for Americans, and they are running for cover, be it with payday loans or by unwisely relying on credit and building up more credit card debt. There is a distinction that not many people are aware of, and that is between good debt, and bad debt. Buying a brand new car, for instance, or a huge credit card bill are both examples of bad debt, as new cars lose thousands once they are driven off the lot. Two prime examples of good debt are college educations and homes. Payday loans can be good debt if you use them, only during emergency, to make a payment that you would be late on and incur fees.

  3. thank you for this article

  4. there are always scam everywhere so we should always be very careful when dealing with others`,:

  5. This is a great post with alot of information. There are alot of scammers out there promising you what they cannot deliver. One person told me how she even was scammed to giving her information when a form was sent to her house claiming that she qualified for some credit only to have her identity stolen in the process of the scamm. Thanks for sharing this with us and many will benefit.

  6. Thank you for taking the time and making the effort to provide concise and correct information. As of late there is a mass amount of mumbled junk spreading throughout the internet and it’s requiring more and more work just to find useful information. I also started a blog/site on bad credit loans and credit cards. It’s a growing issue.

  7. Im looking to get a card but i whint with horizon is this a good card or what the thruet ples no ll ok.

    • I believe Horizon is a card that can be used only at their online store, not an actual credit card. They also charge a fee to get the card.

  8. It is quite unfortunate that there are so many poor credit cards and so many people jump at the opportunity. These types of credit cards can only hurt the consumer, especially with the outrageous fees and rates that are associated with these cards. People just need to learn to pay closer attention and realize that there are many credit opportunities can be very poor financial decisions.

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