No. of Recommendations: 3
As consumers get more and more educated, those "Pre-approved" offers are going into the trash more often than not I believe.

Today, however, I received a whole new kind of credit application. I received a physical "credit card" from CCA Credit Service Division. "Your card is now ready to be activated," it said directly on the card, which had my name and a number stamped on it.

The large print of the offer states that I have a credit purchase limit of $6,500, and no interest rate. hmmmm

Upon further inspection, I see that this card is only available for purchases made through CCA (Catalog) Shopping. For nearly $200 per year my "membercard gives you membership to the CCA catalog shopping club composed of multiple catalogs without finance." All I have to pay is a 30% down payment!

Apparently, by reading the fine print, this offer is made in conjunction with Transunion and Equifax credit marketing.

As another Fool suggested, one can opt-out of these types of pre-approvals by calling 888-5-OPTOUT (888-567-8688). (The number is also listed on the fine print of my offer) Based on this mailing, I fully encourage everyone to do it.

I assume our favorite Credit Card Companies will soon be sending similar cards to potential subscribers. The final approval (rate and credit limit decisions) won't be made until the card is activated. Hopefully our congressmen/women won't let it get that far.

And just when we thought they couldn't get any more sneaky...

Fool On,

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