Nice try credit marketers...but no thanks.
You should know that when we talk about reading every offer carefully and looking for the “between the lines” meanings of marketing offers, we are talking specifically about terms such as this.
Note, the marketer is using the term “you’ve been pre-approved,” or, sometimes they use “you’ve been approved” to apply. The key words are “to apply.” So, while you’ve been pre approved, you still must apply just like everyone else who has not been approved.
It is simply a marketing trick to get you excited and insinuate that you have some special status when, on the back of the piece you’ll see the magic get off the hook words “if your credit history is verified as acceptable,” or “if your credit meets the criteria for this offer;" or some other term that basically says you must qualify based on your Credit Report and Score.
There is nothing special in this offer except it is an offer to apply for credit or a loan of some type. Don’t be fooled by buzz words. Folks who've been turned down for credit a lot get very excited when they see the words: “You’ve been approved.” Don’t get too excited about applying for credit.
These techniques are generally used to target people who are struggling with debt and most of these marketers are looking to prey upon unsuspecting folks who simply think they can borrow their way out of debt. Don’t make another financial mistake. If you receive an offer and you aren’t sure if it is a legitimate offer, let us see it and we’ll coach you on whether it is something you should pursue.
We’d love to see some of the Marketing Buzz Words lenders are sending you. Email them to Mike@mikeaboutmoney.com
See you in the Money Pages!!