Pre-Approval Often Comes With a Catch (as reported by Charles Passy via Marketwatch.com)

Even as an increasing amount of consumers are being preapproved for credit cards, experts say this offer is often too good to be true. Preapproval does not guarantee a competitive interest rate or even acceptance; the rejection rate for preapproved applicants can be as high as 30%. Consumers should be aware of this clever sales pitch and always make an informed decision when selecting a new credit card. To read the full article, click here.

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