We’ve all been there—at the movies. You order a medium-sized drink but are pressured into getting an extra-large jumbo jug for only a quarter more. Now, half way through the film, you need to use the restroom and miss the best part of the movie—all because you bought something you weren’t after in the first place.
You were upsold. Salespeople use this tactic to persuade people to purchase products and services they’ll never use. If you’re not careful, this type of unnecessary spending can affect your credit cards so drastically that you’ll need credit repair. To avoid falling under the upsell spell, follow a few precautions.
Be wary of extended warranties
TVs, computers, and other high-end electronic devices are pricey to begin with, so don’t let your retailer charge you more by adding on an extended warranty. Even if something were to break within the first year (which is unlikely), the cost to repair it will probably be the same or less than the warranty.
Extended warranties are also offered on new car purchases, but they are often riddled with small print stipulations that seldom benefit the consumer. In most cases, you’re best to go with the regular warranty. However, if you’re sure you’ll need an extended offer, be sure to find out how much your insurance deductible costs, what the warranty covers, and who is servicing it. Most importantly, shop around before making a final selection.
No deal on car dealerships
Speaking of cars, avoid overpriced undercarriage rust guards and other add-ons offered at a car dealership—where upselling can cost you thousands of extra dollars. If you’re sure you need undercarriage rust-proofing, it’s best to get it from a specialty shop that can deliver a better service at a lower rate.
Apply strategy when applying for store credit cards
If you sign up for a store credit card at the point of purchase, retailers will usually offer an initial, one-time discount. To fully take advantage of this offer, make sure your purchase is big. Then, to ensure you don’t get buried under high interest fees, pay it off all at once and don’t use the card again if you have other cards that provide better rates.
Monitor credit monitoring
The Consumer Financial Protection Bureau has fined many banks for selling credit monitoring services that fail to deliver on their so-called services. If you are being pressured into a similar service, do some online research before signing up. Make sure you’re going to receive a complete picture of your credit situation, at a fair cost. It would be too ironic if, in your quest to secure your credit, you got into greater debt for a service that wasn’t properly rendered.
Settle the score
If being upsold in the past has affected your current credit, then it’s time to repair it with an industry leader such as Ovation. Each of our knowledgeable representatives will work with you personally to build a credit repair and credit re-establishment plan that is tailored solely for you. Call us today for a free consultation.