Credit card traps you should know

Now a days there are lot of bad stuffs is happening with credit card industries. Right now the credit card insurers are playing very adroit game with their consumers and the consumers have no option to get out of these traps. So you should know these traps to save yourself from these tricks of credit card insurers.

Most important and popular trap is the interest rate because the consumer didn't know the interest rate . If you are making payment on that time you didn't know the interest rate so they can even charge more than the actual rate.

The grace period is another trap you must know. Sometimes it may be happen that if your grace period is of 15 days and you are preparing your payment according to that but on the last time you get to know that your grace period was less than that .

First of all you always need you check your credit account , billing date as well as the grace period so that no body can cheat you.Watch out for the changes with the rules of the credit card companies, the Government and the Federal Reserve. You should have a clear knowledge over the credit card agreement, mostly the section of fine for default payment.


  1. Its very easy to get a credit card, but managing a credit card is not an easy task, especially their hidden charges and taxes are very expensive. Every other day banks used to charges you for something that you don't know.
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