Last year people started getting a lot of credit card offers in the mail again. For some, I’m sure they thought that life was getting back to normal and that the economy was making its way back to where it had been before. Turns out not only is that not true, but the credit card companies are pretty sneaky in what they’re trying to do.

by The Consumerist

If you’ve paid any attention to most of the offers, it looks like you’re being offered a shot at getting a business credit card. This seems to be occurring whether you’re a business or not. Some people might not think it matters; after all, the initial interest rates are low, many cards say they’re waiving the first year’s fee, and they’re also still offering free interest balance transfers for six months or so.

What’s the problem then? The problem is that the credit card laws that were passed last year were for consumer credit cards. Business credit cards aren’t covered under the law, and there’s no specific wording on what constitutes a business credit card. Therefore, credit card vendors can market business credit cards to pretty much anyone.

What does this mean to you, the consumer? Just like before, you need to be cautious whenever you’re looking at credit card offers. Without the protection of the credit card act, your interest rates can go up at any time, your fees could go up at any time, and don’t even think about missing a payment. Remember, it’s not always wise to put in for every credit card offer you get.

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