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03/05/2012 8:54 pm
Not a question, more like a mild rant!
I signed a trust deed in February this year and was surprised to receive a letter from one of my creditors (I had a credit card with them) telling me that I have been pre approved for a credit card with them! Apparently due to my circumstances I am "ideally suited for this new credit card product designed to help people rebuild their credit rating".
Now, I'm sure I would be grateful of this card once the TD is finished and I want to start rebuilding my credit rating but I can't quite believe they would offer me more credit while I am in a trust deed to repay the credit they gave me in the first place!
I know I am to blame for getting myself into debt but I honestly wonder sometimes if less people would get in to debt problems if credit wasn't thrown at them!
04/05/2012 9:20 am
Hi misslinds.
The way credit is advertised certainly plays a role in encouraging people to get into debt. However, even though you received this letter I'm sure any application would then be subject to their usual credit checking and application criteria. Getting the letter doesn't necessarily mean you'll get the credit card (probably mentioned in the small print?).
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
10/05/2012 12:07 pm
Agreed Trust Deed Assistant - offer in principle is different to actually obtaining creditor and in most cases, a good creditor would undertake the necessary credit checks to ensure that you are in a position to afford monthly repayment to creditors. Almost all do this apart from Credit Unions that surprisingly base their decision on trust!
