Credit Card Applications Offers are Piling Up - Other News

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Credit Card Applications Offers are Piling Up

Credit Card Applications Offers are Piling Up

Add to Favorites:
Credit Card Applications Offers are Piling Up

Lack of Coverage

The primary problem is that cardholders of these professional cards do not receive the same type of protection and coverage as consumer credit cards under theCredit Card Accountability and Responsibility and Disclosure Act of 2009.

Some of the protections these cards do not include are:

  • Interest rate increases
  • Shortened payment cycles
  • Inactivity fees

Taking Advantage

It appears as if business card issuers are taking advantage of the fact that consumers do not understand that the act protections do not extend to business credit cards. And, credit card issuers are taking advantage of this by inundating mailboxes with these offers. During the first quarter of 2010, 47 million professional credit card offers went out in the mail. According to the research firm Synovate, this is a 256% increase over the same type of offers that went out in 2009.

What to Do

It does not mean that you should not apply for one of these cards for your business. It simply means that you should be fully aware of the terms and conditions of the card before taking it on. This, of course, is true of any type of credit card or credit account that you open — be it personal or professional. It is also important that you understand that what you sign on for the business card may change over time, which are some of the restrictions that consumer credit cardholders do not necessarily have to worry about.

All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Small Business Saturday Resonates With Consumers

Posted: November 21, 2017

If you know that November 25 is Small Business Saturday you are in good company because 61% of consumers know it is taking place too, according to the 2017 Small Business Saturday Consumer Insights Survey. Continue reading
Chase Adds Two New Point Transfer Travel Partners

Posted: November 20, 2017

Chase has inked a new deal with the Aer Lingus loyalty program, AerClub, and the Iberia loyalty program, Iberia Plus, making them their newest Chase Ultimate Rewards point transfer partners. This new deal lets eligible Chase credit ... Continue reading
Small Business Owners Optimistic and Going Digital

Posted: November 17, 2017

Optimism is up and on track among small businesses this quarter according to the new The Q4 Wells Fargo/Gallup Small Business Index, also finding that hiring is in the air for some of these businesses, along with upping their game when it ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
For Excellent, Good Credit
Our application is quick and easy with instant pre-qualification available
For Fair / Good Credit