Credit Cards

Be Sure You Know What is in Your Credit Card Agreement

Before you sign up for a new credit card, make sure you understand all of the terms. A credit card rate, especially a 0% credit card, might look attractive initially, but once you start reading the fine print, you might change your mind. After all, there is a lot of stuff in that fine print. Information about what could happen to your rewards points, as well as what could make your credit card interest rate go up without warning.

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You will want to make sure that you read your credit card agreement, looking for surprises that might create some unpleasantness for you down the road. Another consideration is the fine print that tells you how your interest rate is calculated. You want to make sure that you understand the process — especially if you carry a balance. Getting the best deal from your credit card is about being careful of what you do, and doing your best to navigate the fine print.

Keep Up with Changes to Your Credit Card Agreement

It is important to note that your credit card agreement is not something set in stone. Indeed, your card issuer can change it almost at will — provided, of course, that you are given proper notice under the Credit CARD Act. So it becomes important to read everything a credit card issuer sends you. Changes to your rewards program, interest rate, and other changes all come in separate envelopes that sometimes look suspiciously like junk mail.

If you want to stay on top of things, and avoid unpleasant surprises related to your credit card account, you will need to make sure that you read everything you are sent, and pay attention to any fine print that you see. If there is something you do not understand, you can call the credit card issuer for clarification or ask someone you trust. This can help you find out what to expect from credit card issuers.

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