Tips To Avoid Problems When Applying For Credit Card Promotions

CreditKarma CEO Kenneth Lin recommends that consumers open new accounts over the Internet, taking and saving screen-shots of exactly what products they are applying for. Unless a call is recorded, applying over the phone leaves consumers without proof of what happened during the transaction.

Lin also urges people to take care when reviewing accounts online. Credit card companies, which save a bundle with electronic billing, can make it easy to "accidentally" switch a customer to any product or service that helps the their bottom lines.

Whenever possible, I avoid opening new accounts over the phone for exactly the reason cited, but unfortunately sometimes that is the only avenue offered.   The advice to take and save screen shots when opening an account online is very sound.  If the account is a reward checking account, I take a screen shot of the E-statement enrollment process as well.