We all have received credit card offers promising: You're Pre-Approved for a 5.99% or Pre-Approved for up to $10,000.pri
Well this big bold print is supposed to make us act just like Publisher's Clearing House announcing we could be a winner. We all know that isn't true, but we still send in hoping to win that million dollar prize. They do include a page on rules and possibility of winning, the "fine print"
Now credit card companies do the same and they have rules page with "fine print." Where do you find the rules page? Right on back of the application.
It is a small box broken down into segments. It describes the terms and conditions otherwise known as rules.
They all look the same. It discloses: Fees, Interest Rate, How long rate is good for, Default rate or Maximum Interest Rate, How interest is calculated.
This is a must read before applying for any credit card. "What the bold giveth, the fine print taketh away" Always remember that saying because it will save you money and trouble later.
The government regulates what must disclosed on each credit card application. Always turn over the application to see its' rules and terms.
Hope this helps.
Teddy.Danfield@debtstrength.com
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