Read, Read and Then Read Again

Read every piece of paper in your credit card statement envelope even though it looks like a throw away advertisement. I opened one of my credit card statements the other day and this rag tag looking piece of paper fell out onto my desk.

I almost tossed it but remembered my own advice. As I read it, I was greeted with several changed terms. Nothing so drastic as to roll on the floor in a froth but revised terms nonetheless.

Credit card issuers are resorting to all kinds of tricks and wizardry to hide the mandatory notice of change they must give each card holder. So far this year, and it is only March 1st, I’ve seen rates rise, fees rise, grace periods shortened and a few I can’t remember.

Read every piece of paper. That is the only way you will know what these buggers are doing to you.

This is good advice. They send so much junk you never know when it's something important.

Excellent advice. I had something similar happen to me only a couple months ago. An extra bit of paper, folded into the statement, telling me that fees and rates had gone up. I thought it was just 'junk mail' and was going to throw it out. I'm glad I took the time to read it now.

My wife and I were surprised at what the agreement was when we missed a payment due date. We paid a penalty for the next two months.

When we inquired, of course we were told that was the agreement.

I was reading a loan application and it mentioned the fact that if you missed one payment the interest rate will go up 100%

Wow MHJ, I wonder what company was offering a loan under those terms?

It sounds like a deal you could find down at the docks after hours.

A great resource for dealing with Credit Card Debt is American Freedom Financial they lowered my current interest rates and gave me a more affordable monthly payment - I’ll now be out of debt in a quarter of the amount of time.

You can give them a call at 877-513-7863 to speak to a debt specialist.

Thanks American Freedom Financial!!!!

I did do what you advised. I read the credit card terms and condition booklet that come with the card. I am very angry when the officer over the bank told me that some of the terms in the booklet are outdated and were replaced by what they have in the new application pamphlet. I scold the girl profusely on this unprofessional practise and demand to see the bank manager. Lucky for him, he was not around. If not, he will get a good lesson from me.