Credit Cards
recommended by
our experts

Get Cards
Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

Credit Card Deals - Make Sense of the Fine Print!

2008-02-12

That's no surprise that credit cardholders avoid reading the fine print on their credit card agreements. Even if you start reading it, you can hardly get the idea. Although you credit card agreement is written in English, it makes absolutely no sense! Reading the fine print is like guessing the riddles of the Sphinx. Once you fail to find the proper solution, you have to pay for it, and sometimes it may cost you dear.

The problem is, credit card language is all about legalese. Lenders admit this fact, but they are not so willing to change anything. Credit industry is all about hidden icebergs, and credit issuers make money on our mistakes. Protect yourself from foolish mistakes - make sense of the fine print on your credit card agreements!

It's worth saying that most credit cardholders do not read the fine print. Making another credit card deal, you may get tempted with those zero interest rates, or exceptional rewards. However, there's no guarantee you will actually get it. All the truth about credit cards is hidden in the lines of the fine print. The question is: who reads it?

According to the statistics, approximately 30% of cardholders read their credit card contracts, or at least they try. Information is a power when it comes to plastics. Once you are aware of all the terms and conditions on your plastics, you are protected against unexpected changes that may lead to financial difficulties.

Let's start with interest rates on your cards. Like it or not, different interests apply to credit card purchases, balance transfers, and cash advances. And don't forget about penalty rates that hit you every time you make a late payment, or exceed your credit limit, or right after your score has suddenly dropped.

Pay close attention to interests on your cards. Your lender may change fixed rates to variable and vice versa. If you see this statement in your credit card agreement, keep an eye of your interest rates on a regular basis.

Would you like to take advantage of your balance transfer card and pay off the higher-rate balance? Slow down, and read the fine print carefully. Most lenders state that your credit payments will go toward the lowest-rate balance first. So, make your choice wisely!

Some credit issuers may also state that your minimum payment may hike to 4% of the balance. By all means, for some credit users it may become an unwelcome surprise. But in fact, it's not so bad in view of the fact that it will help you pay off your debt faster.

Credit card fees are also of great importance. Most obviously, credit issuers won't specify all credit card fees on this or that card, but you are sure to find all the necessary information about credit card fees in your credit card contract.

Pay attention to late payment fees and the amount of grace period. What do they have in common? Nowadays, credit issuers have a tendency of cutting grace periods up to 20 days. It means that the evidence is great that you can miss your payment. So try to make your credit payments on time. You may pay your bills online in order to save your time and energy. And if you feel like you are short of money, contact your creditor and discuss this problem with credit professionals.

Share Opinion:
del.icio.us   digg   Furl   YahooMyWeb   Propeller   Reddit  
Comments not found
 

If you have something to say, please leave your comments below.

Your Name: *
Your Email:
Your Comment: *

Enter Number from Picture: * number

* - Required Fields Add Comment
[Sunday, December 18, 2011]
Chase Bank recently announced the redesign of its Visa credit cards - allowing more space on the front for the Chase logo. This new design is in trial mode currently but Visa has pans to roll out its new design to other financial institutions in order to increase the branding and logo visibility of the individual issuing banks.
Comments (0)
[Friday, October 28, 2011]
Debit and credit: they`re both plastic, why not consolidate them? The Cinncinati-based Fifth Third Bank, is the first to offer the DuoMasterCard which consolidates both a checking and a credit card account into one card.
Comments (0)
[Wednesday, September 21, 2011]
It really pays when you do the right thing. Take credit cards for instance, having a clean credit profile really does help. Those who managed to maintain a squeaky clean credit report during the recession can now jump with joy, as they will get some of the best deals from credit card issuers.
Comments (0)
* The CreditCardSpecialist.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. CreditCardSpecialist.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the CreditCardSpecialist.com website are property of their respective owners.
We do our best to maintain the information accurate at CreditCardSpecialist.com. However, all the credit cards information is subject to change and presented without warranty. See the up to date credit card terms and conditions on the secured credit card application page. Note that CreditCardSpecialist.com may be compensated by credit card issuers when visitors apply for a credit card through the links on this website.
CreditCardSpecialist.com, an independent, advertising-supported website, receives compensation from the companies whose offers appear on the site. This compensation impacts where and how credit products appear on our site, including, for example, the product listing order in which they may appear on separate pages. CreditCardSpecialist.com does not present or review all available credit or financial offers.
Disclosure: Not an access card.