Letting Timeshare Resorts Open a Credit Card for You

Timeshare resorts will do anything to sell a property. For starters, they tell potential buyers they’ll experience a dream-like vacation—however, the reality is more like a nightmare. Some companies even offer to open a credit card for people to make financing more manageable. This article will describe the disadvantages of letting timeshare resorts open a credit card for you. In fact, you should run the minute a salesperson presents you with this option.

Manipulative Tactics

All a salesperson needs to open a credit card in your name is a driver’s license and a major credit card. Since the process is relatively simple, timeshare resorts are notorious for opening several cards at once. Moreover, these individuals can run several lines of credit. Finally, the interest rates associated with these cards are incredibly high. In reality, a timeshare is essentially a cash bait and switch. These people are just trying to trick you; they’re not interested in helping you.

They Want To Get More Money Out of You

Interestingly, 87% of timeshare owners want to cancel within the first year of ownership. For this reason, resort employees want to get the most cash out of you as quickly as possible. To them, the best way to do this is to open a credit card in your name and drain you dry. Unfortunately, this money is gone forever. Additionally, you’ll likely be responsible for paying back all the fees that are racked up in your name.

There are too many downsides to letting timeshare resorts open a credit card for you. In this scenario, credit cards don’t make financing easier. Instead, when businesses rack up debt in your name, your financial future could be put at risk. As a result, you should work with a transparent exit company to cancel your timeshare immediately. Preferred Cancellation Services is one of the best businesses in the industry. We’ll fight with integrity, and hopefully, prove that the resort company manipulated you in unfair ways. With our help, you can be free of this significant burden on your life.