Banks and Fintechs Target Customers with Pre-Approved Offers

Banks and fintech companies are sending lots of pre-approved loan and credit card offers to people's inboxes.

They do this by buying consumer data or using credit bureaus to find people who might be interested.

If you have a good credit score or an active bank account, you might get these offers.

While some people find these offers useful for buying things on credit, others worry about the high interest rates and the risk of debt.

Banks make money from the high interest rates, even though some people might not pay back their debts.

There are also concerns about how credit bureaus decide who is creditworthy.