Screening Services

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93 Castle Court
Brunswick, Ohio 44212
Phone: 330-460-3347
Fax: 330-460-6170
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Credit Card Alert!

Did your bank ask you if you are a "professional" or if you "wanted a professional credit card?"  Our suggestion is to say "NO!"   Most people don't know that those "professional" credit cards follow the previous credit card laws.  If you have received a letter in the mail offering you a "professional" credit card, think twice before accepting it.  Professional level credit cards may not follow the new Credit Card Law.  The old laws allow credit card companies to increase fees, apply extra payments to your balance with the lowest interest rates, set restrictions and penalties without notice.   Some banks don't really care if you own your own business and settle for you just saying you are a "professional."  They are easing the application process for professional cards as well. Be sure you know what you are signing up for before you do it.

Letters are in the mail from your credit card company.  In very small letters on the back of the form, the companies are informing you that you no longer have a "credit high limit".  Sounds great, right?  Not so fast!  Your "credit high limit" is taken into account when adjusting your score.  As long as your balance is low and the balance available is high, it is a positive point in assigning the score.  Changing your account from a credit high limit to a revolving account will have a negative impact on your credit score. 

If this happens to you, be sure to call the credit card company and ask what available credit line they are placing on the credit report.  If it is lower than you currently have, tell them no thanks.

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The content of this website is intended for general informational purposes only. Always verify pertinent information with your real estate attorney, broker, county, state and federal authorities before acting responsibly. The Screening Services staff is made up of seasoned Landlords, not attorneys, who are ready to answer your questions and brainstorm your tenant/landlord problems.