Before you ever sign up for a credit card you should read the disclosure box at the bottom of the credit card application. The information you read in the disclosure could change your mind about whether or not you even want the card.
Even if you’ve been pre-approved for a credit card you need to check out all of the terms and conditions associated with the offer.
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Paying any of your bills late may now be more costly than ever before.
Thanks to a little known “universal default” clause in many credit card agreements, one late payment to any biller you owe money to can automatically cause your interest rate to skyrocket up to 24 percent or higher on some of your credit cards.
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Use your credit card to make a purchase and you may end up paying a lot more for your purchase in the long run.
Sometimes you can’t resist using your card. You see an item on sale that you want right now. Maybe you’re a little strapped for cash and need to make a purchase that can’t wait until tomorrow. Regardless of your reasons for using credit, the longer you wait to pay off your purchases the more expensive they’ll become.
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Credit card offers are practically falling out of the sky these days. You can hardly go out in public anymore without seeing credit cards promoted by many of the places you may shop at.
The perks many store branded credit cards may offer aren’t always all they’re cracked up to be.
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Many credit card companies now offer a variety of insurance policies that offer limited account protections to consumers under certain circumstances.
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Going above your credit limit on any of your available lines of credit could be a very costly mistake.
Many consumers aren’t even aware that a credit account can be overdrawn. What you don’t know can hurt you. The penalties can go far beyond the typical overdraft fees you’ll pay with a bank account.
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If you ever lose a credit card, time is probably not on your side.
Chances are the card will be long gone before you even notice it’s missing. It could have fallen out of your wallet, you may have forgotten to get it back from the server at the last restaurant you dined at - or it could be stolen.
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Regardless of what you may think, you don’t have to be at the mercy of credit card companies.
You may be paying much more for your credit cards than is even necessary.
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Pre-approved credit card offers can sometimes be a classic example of bait-and-switch marketing. When it comes right down to it, pre-approval means little, if anything at all.
If you’re like most consumers, you probably get several of these pre-approved credit card offers in your mailbox every year. The better your credit is the more offers you’ll get and the better the offers may seem at first glance.
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If you use a credit or debit card to make reservations, preorder merchandise online or even start a tab at a bar, a hold may be placed on the card to cover the estimated costs of the transaction. This “blocks” the funds from being used until the final bill is charged to your card.
By blocking the estimated funds needed to cover the final bill, businesses ensure that they’ll be paid before a customer makes use of various goods or services.
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