Article: Avoiding Credit Card Traps
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Avoiding Credit Card Traps
The next time you open your credit card statement, take a closer look at the small insert titled ?changes to your credit card agreement?. You know the one I?m speaking about. It?s that small, folded paper written in legalese that you promise to read some other time (but of course that time never comes) or you just discard it with the other ?junk? inserts.
First and foremost you must understand that using your credit card after you?ve received this notification results in your automatic ?agreement? to the new terms in the notice. To prevent these new terms from affecting your account you must stop using that credit card immediately or by the date given in the notification statement.
The most common modifications to credit card agreements include new APR?s (a...
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