Credit Cards: Preapprovals & Solicitations
I received a letter stating that I have been preapproved for a credit card with a high credit limit and a low annual percentage rate. What does this mean?
Generally, when you are "preapproved" for a credit card, it means that a preliminary review of your credit record by the card company indicates you may meet the criteria it seeks in a customer. You are not absolutely […]
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The bank keeps calling me about applying for a credit card. I told them to stop, but they keep calling. What can I do?
Contact the bank in writing, requesting that they stop the solicitation calls. Another way to reduce solicitations is to register for the National Do Not Call Registry. However, please note that adding your number to the […]
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I was contacted by phone to apply for a credit card. I agreed to one rate on the phone, but when I received the credit card, the rate was higher. Can the bank do that?
A bank can call you and offer you a credit card, but the representative must tell you if the interest rate could be different when you receive the card. When the card arrives, if the rate is different from what was quoted, […]
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How can I stop receiving credit solicitations? How do I stop a specific bank from sending me solicitations?
You can stop receiving unsolicited "preapproved" credit card offers by having your name removed from the credit reporting agency mailing lists. Call (888) 5-OPT-OUT (that is, (888) 567-8688) or visit OptOutPrescreen.com. […]
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The bank sent me a credit card I did not request. Isn’t this against the law and what should I do?
The Truth in Lending Act prohibits a bank from issuing credit cards except in response to an oral or written request or application for the card, or as a renewal of, or substitute for, an accepted credit card. This […]
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