I got a letter in the mail today and it stated i was preapproved for a visa credit at a 0 %. However, it was linked to my old visa card. They state in the letter old balance will be transfered for no cost, if i accept. Its part of a fresh start solution. Heres what is stated word per word" transfer balance with lifetime arp 0%, of 1468.00, suggested payments over 12 months is 367.00. special debt reduction statment credit of 440.00. new balance after suggested payments and credit 661.00. PREAPPROVED CREDIT OF 734.00, availabe credit after suugested payments 73.00". I look at my credit report today my score is at 443 and this old credit card i got this letter for comes off report due sol on 8/2007. so what should i do take the credit card or just wait it out till next year? i need to build up my credit again.
Yikes!!! They are trying to suck you back in!!! Don't do it. If you think you can afford to make payments on that new credit card for that old debt, then go ahead and make payments to the CA (if that's what you want to do). But for goodness sake, don't even think about accepting that "generous offer" of a new credit card that comes with an old debt.
