People who are having bad credit can be trapped by the shady credit card deals.

Some of them are downright dishonest, and such products are being offered by some of them that really don’t stand up when you put a spotlight on them.

And if you have decided to sign up, than you should make sure that the company offering the deal is the right one i.e., have they come directly from the card issuer? And if they don’t, then you should immediately contact the card company to ensure that the cards are authorized.

Offers of "Debt suspension"

How does it works:

This can be offered by the Banks without having to use insurance companies. It is commonly offered with your card as an extra, and generally it is sold as a way to keep your head above water if you would be unable to make monthly payments due to a job loss or disability.

But if you take such insurance then it does not means that you don’t have to pay your bills while you can’t, what it simply do is that it puts your bills on hold. During the period when you are out of work, you will not be able to use your card, and although interest is not being applied, the total balance is lurking in wait for the time when you will again get back to work.

Pay fees in advance

How does it works:

 

Some scammers would promise credit cards that have such terms that really sounds good. The is just one catch in it and that is the only way by which you can get that card is through a fees that is paid in advance, and they justify this by saying that this is to help with the paperwork or "to get you pre-approved" or some other lines of this kind.

Once that a fees is paid by, you won’t hear from them or you will not be able to find them again. A person who is desperate for a card with great rates and terms are the main target of such advance -fee scammers.

Buy credit protection you don’t need

How does it works:

Many people have been duped into buying protection for preventing them from any risk in case their card is stolen and the thief runs up a big bill. But card users are already protected by the federal law. Consumer liability is capped at $50, and if you have promptly reported the card missing or stolen then it is rare case if a credit card company even ask for that money.

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