Credit Cards
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Wednesday, March 21st, 2007Watch out for hidden credit card fees.
Federal law dictates that credit cards can’t hide fees from customers.
But does that mean you’re not paying any fees you don’t know about?
You could be missing the fine print — and the many fees that come with everyday transactions (or blunders).
In fact, Americans pay about $31 billion in credit-card [...]
Beware of credit card cash advances
Tuesday, February 27th, 2007Hello-
This article addresses an issue with credit card advances. Basically, avoid them as much as possible. The interest rates are very high and the fees are crazy too. The rates on a cash advance can easily be 23% or more. And the fees at 3% can get pretty expensive.
For example let’s [...]
Beware of credit card universal default clauses
Tuesday, January 9th, 2007Beware of credit card universal default clauses
Sounds like something bad that could happen to your car or your computer.
In fact, it’s something harmful that could cost you lots of money and harm your credit rating.
Universal default is a clause contained in the fine print of credit card offers and agreements stating that if you are [...]
The universal default clause
Thursday, December 14th, 2006Credit Card Universal Default Clause
This is a nasty one you need to watch out for. Unfortunately many credit card companies have this in their terms now.
Here’s why it’s so bad:
Many credit card agreements now contain a universal default clause
that means your creditor can raise the interest rate on your credit
card for a variety of [...]