10 Dirty Tricks Credit Card Companies Play

Written by Jeremy Zongker


The credit card companies make billions each year in legitimate interest charges and fees, but are under constant pressure fromrepparttar shareholders to increase their earnings. To make this extra moneyrepparttar 141637 credit card companies sometime adopt some dirty tricks to make this money. Asrepparttar 141638 credit card industry becomes more competative, less money is being earned from each client from interest charges andrepparttar 141639 number of these dirty tricks increase. To protect yourself against these unscrupulous procedures that steal your money we will list 10 dirty tricks credit card companies play to their clients so you’ll know what to expect and look out for. Of course that there are not only 10 dirty tricks credit card companies play to their clients but knowing at least these 10 tricks will help you to not be a victim.

The first one out ofrepparttar 141640 10 dirty tricks credit card companies play is alsorepparttar 141641 worst of them: not posting your paymentrepparttar 141642 day it was received. This isrepparttar 141643 oldest known trick:repparttar 141644 company receives your payment in time but it doesn’t process it immediately; this delay will bring torepparttar 141645 company a late payment fee. This is often due to legitimate reasons, butrepparttar 141646 policies of many credit card companies support a processing time that is not beneficial to you. A second trick is to make you pay late by changingrepparttar 141647 due date for your credit card payment. For being laterepparttar 141648 company will charge again a late payment fee and ifrepparttar 141649 situation repeats for few months in a row they can legally increase your interest rate. The third trick played byrepparttar 141650 credit card companies is a ridiculous one: you can be charged a penalty fee for not using your credit card a certain period of time. As unbelievable as it might seem, this is a new tactic ofrepparttar 141651 credit card companies to take your money. Another two tricks used are in connection withrepparttar 141652 client’s peace of mind. Both of them are connected with credit card protection andrepparttar 141653 fees that must be paid. One of them is protecting you in case your credit card is stolen, lost or used fraudulently. Almost all credit card companies do not charge a fee for this service, but there are others that do. The best thing you can do would be to avoidrepparttar 141654 latter ones. The second credit card protection fee is for protecting you in case you loose your job or die. For this protection, usually,repparttar 141655 fees are too high forrepparttar 141656 benefit received, but many customers purchase it out of fear.

What is a Credit Card?

Written by John Mussi


A credit card allows you to buy things even though you might not haverepparttar money to pay for it right away. The company that gave yourepparttar 141581 card lets you spend up to an agreed sum and then makes additional money available to you as you pay off what you've spent. You must pay at least a minimum amount byrepparttar 141582 due date, generally once every month. You will pay a finance charge or interest on any amount you do not pay byrepparttar 141583 due date.

Today our entire financial system relies on credit. Credit cards can help to make your life that little bit easier- you can use it to pay for goods or services, either overrepparttar 141584 phone, online or overrepparttar 141585 counter.

Credit cards can enable you to have that little extra spending power when and where you need it. In addition to paying for purchases you can also use your credit cards in order to withdraw cash from a cash machine, not only in this country but all overrepparttar 141586 world.

It is increasingly difficult to operate inrepparttar 141587 modern economy without a credit card. Credit cards allow people to manage emergencies, to shop conveniently inrepparttar 141588 High Street, by telephone or overrepparttar 141589 internet and are useful when travelling abroad.

With each credit card you will have a limit torepparttar 141590 amount of money that you can spend on it. This is known as a ‘credit limit'. You can withdraw money and pay for goods and services as much as you want up to your credit limit, effectively borrowing capital from your credit card provider.

Every month you will receive a credit card statement that will detail both your balance (the amount of money you have either withdrawn or spent) and any interest that has accrued upon it. You can then either pay offrepparttar 141591 full amount or makerepparttar 141592 minimum payment.

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