I receive more credit card mail a month after my credit score drops than when it is high. It’s been low for a while and I have received dozens more mail than I have ever before. When it goes up I will see if it slows down and report back.
Why do you get more credit card offers when your credit score is low than when it is high?
#1 by Jo Blo on June 8, 2008 - 12:04 pm
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cuz they know you will use the cards,, like offering a recovering alcoholic a drink
#2 by chelebeee on June 11, 2008 - 5:23 pm
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They are hoping you will want to use them in order to get your score up. Usually they come with a super high interest rate after the initial period.
#3 by spifiman1 on June 12, 2008 - 12:48 pm
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Because credit card companies pray on people with bad credit. That is where they make the most money and let’s face it, that’s what their business is all about.
#4 by iceman on June 15, 2008 - 3:56 pm
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Typically people with scores in the 600-680 range get the most offers. Score is low enough that you may be using credit cards to build your score, but high enough that you are not looked at as a major risk.
#5 by Matt on June 17, 2008 - 5:53 am
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These are are the worst of the worst when it comes to credit cards.
They typically target those people who are trying hard to raise their credit scores or rebuilding their credit after bankruptcy, etc.
They are hoping you will sign up and pay the outrageous annual, processing and application fees. Once you sign up they will hit you with a monthly membership fee.
Avoid these cards at all costs.
Good luck
#6 by YSIC on June 18, 2008 - 3:04 pm
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Unfortunately, many credit card companies “prey” on people with less-than-perfect credit.
CC companies don’t really make a lot of money off of people who manage their cards responsibly, pay off their balances quickly, pay on time and never overdraw their accounts. Nor do they make money off of those who open credit, charge it and then let it go to collections w/o a second thought. No. They make money off of people who *sometimes* make bad credit decisions. They don’t go for the people who are deadbeats – those with tons of collections on their accounts. They’ve proved that they are not to be trusted. The CC companies go for people who fall behind and try really hard to catch up – people who have been delinquent in the past, but ususally show good faith of paying what they owe. Those are the people who will pay the late fees and over-the-limit fees. They cc companies can justify charging this customer a higher interest rate b/c of those issues. That’s how they make their money…off of honest, hard-working people who have stumbled in the past. Sad but true!