Credit Card Offers By Third Parties
SUMMARY: Many third party credit card offers involve a fee just to get an application. You may also need to deposit money in an out-of-province bank before getting your credit card. This money will serve as a credit limit or collateral for your account. Other companies may send a credit card which can be used only to make purchases from the company's own merchandise catalog, rather than the expected Visa or Mastercard.
For further information on this subject, contact DIAL-A-LAW at (604) 687-4680.
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When evaluating a credit card solicitation, determine if it is from a bank which actually issues credit cards or if it is from a company claiming to guarantee that it can get you a credit card, regardless of your credit history. If the offer is not from a bank which issues credit cards, but rather from a "credit card processing or procurement firm," you need to carefully evaluate what is involved in the offer.
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