Getting lots of pre-approval offers in the mail? Here's how credit card companies select you for special offers.
Credit Card, it states that for a card with a $300 credit limit, cardholders are charged a one-time program fee of $95, plus an annual fee of $75 in the first year , and a monthly fee of $6.25 after the first year. These fees increase as the credit limit goes up.charge a monthly maintenance feeSaying yes to these offers can be risky, says Harris. You should turn to them only when you have a clear plan for how you'll use them to build credit.
If you qualify for good terms, a 0% APR card can be very helpful for budgeting large purchases over time or paying down debt. But you'll need to feel confident in your ability to make your payments in order to make these incentives worth it. Every offer is selected on an individual-by-individual basis. Even if your issuer extends an offer to your friend or spouse, you might not see the same opportunity.
Harris thinks it could be an issue of seasonality and when card issuers market to their members. Since she applied for her card seven months before her husband, she believes they are in two different marketing cycles. Card issuers are known for mailing offers for different customers at different times based on the length of time that person has been a cardholder and how well they've followed the borrowing agreements.
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