It is typical for first-time buyers to be free of debt after saving for their home for many months or years.  Soon after they moved into their new home, they are deluged with pre‑approved credit card applications from banks and stores they have never heard of.  Before they realize what is happening, some new homeowners can get over their heads in debt.

The consumer credit agencies know that mortgage companies do thorough checks before approving a loan, and those who have passed through that process are considered good credit risks.  They also know that new homeowners often need to make major purchases of furniture and appliances at a time when they have depleted most of their savings accounts.  After years of disciplined savings, new owners may be faced with a tremendous temptation to just say, "charge it" for the things they need.  If you have just purchased a home, be aware--and wary--when those applications start pouring in!