Check That Pre-Approved Credit Card OfferPosted by Nick Niesen on October 29th, 2010 If you have received a pre-approved credit card offer in the mail make sure you read everything. There are good and bad offers and you need to know which credit card offer is for you. Look for: * The Annual Percentage Rate (APR). If the interest rate is variable, how is it determined and when can it change? The Fair Credit and Charge Card Disclosure Act require credit and charge card issuers to include this information on credit applications. The Federal Reserve Board provides a free brochure on choosing a credit card and a guide to credit protection laws at their web site. Comparing Cards * Bank Rate web site provides free credit card tips and information. Lost and Stolen Credit Cards Immediately call the card issuer when you suspect a credit or charge card has been lost or stolen. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. By federal law, once you report the loss or theft of a card, you have no further responsibility for unauthorized charges. In any event, your maximum liability under federal law is $50 per card. Complaints To complain about a problem with your credit card company, call the company first and try to resolve the problem. If you fail to resolve the issue, ask for the name, address and phone number of its regulatory agency. If the word national appears in the name or the letters N.A. appear after the name, the Office of the Comptroller oversees its operations. To complain about a credit bureau, department store or other FDIC-insured financial institution, write to the Consumer Response Center. Like it? Share it!More by this author |