How to avoid being victimized by a secured credit card marketing scam
According to bbbsilicon.org, Beware of offers of easy credit. No
one can guarantee to get you credit. Before deciding whether to
give you a credit card, legitimate credit card processing
service providers examine your credit history through a credit
report. Think twice before making a call to a "900" telephone
number for a credit card. Be wary of credit cards offered by
"credit repair" companies or "credit clinics." These businesses
also may offer to clean-up your credit history for a fee.
However, you can correct genuine mistakes or outdated
information yourself by contacting credit bureaus directly. But
remember; only time and good credit will repair your credit
report if you have a poor credit history.
Credit Reporting If you are considering a secured card as a
means to build or re-establish a credit record, make sure the
issuer reports to a credit bureau. Your credit history is
maintained by companies called credit bureaus that collect
information reported to them by banks, mortgage companies,
department stores, and other creditors. If your card issuer does
not report to a credit bureau, the card will not help you build
a credit history.
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