Protect Yourself And Your Credit Score When Applying For Online Offers
Print View - Published: Wed, 2 Sep 2009 at 4:53 PM
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It can be almost too easy today to apply for instant credit card approvals online. Just about everyone can have an answer on their application within seconds, right from the comfort of home with the click of a mouse.
The danger is that you may be damaging your credit score with too many easy credit applications, and some of these "instant credit" offers come with high, and often nearly hidden fees.
Application fees, annual fees, higher interest rates... the list of ways that some credit lenders will try to separate you from your hard earned cash is almost endless.
That's why it's vital to only apply for offers from trusted sources. Never apply for credit on a web site just because it "looks professional". When dealing with your credit rating and personal finances, stick with true banks and known sources.
It's also vital that you read all of the terms and conditions of the offer you're applying for. Don't be blindsided by charges or fees after you're approved. Take the few extra minutes to read through the terms of the offer before agreeing to it and submitting your application.
One recent study suggests that less than 7% of Internet users read the terms and policies that they agree to with web based form submissions, that means up to 93% of browsers online are leaving themselves wide open to surprise charges and unwanted uses of their personal information. Don't be among that group.
Just be sure you know what you're getting into before accepting any offers online, and don't over do it with the number of offers you submit. Each one posts a lookup to your credit history, and too many lookups can lower your overall credit score substantially.
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How to avoid damaging your credit rating or paying unnecessary fees when applying for online credit card offers
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