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Do you know what’s on your credit card contract?
I agree that it isn’t much fun trying to make sense of the fine print on credit card contracts. But ignore them at your own peril because there are clauses in that contract which can drown you in debt if you are not careful with your card. Of course, if you don’t feel like reading those boring paragraphs, don’t worry, you are not an oddity. According to a recent survey, only 44 percent of us actually read every word of our credit card contracts.
But if you do read the fine print, then well, you can take pride in the fact that you have managed to keep on top of your finances. And if you already have one or a couple of credit cards, here are a few tips that will help you make the most of your card. Firstly, stay alert to changing trends. You must keep yourself updated to higher rates or changes in rewards programs. Courierpostonline.com reports:
Some issuers are raising the minimum monthly payment required. Others are switching fixed rates to variable rates that rise with short-term interest rates.
Read more: Credit card notices need careful read
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