Tag Archive | “misleading statements”

Top 5 Misleading Statements by Credit Card Companies

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Isn’t that true? That credit cards companies decoy you in with big promises but most of the time back off form the promises they made.

It would be difficult enough to find any people that would not agree to this sort of behavior by credit cards companies. It is really unfortunate to know the common opinion that when credit card companies approach you and you have the attitude of being fully agreed to their terms and conditions then they will be surely take full advantage from you.

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But I guess you believe in getting rich slowly, likely to be more careful about your finances and adequately careful when you are spending your money.

So let me tell you five specific guidelines to keep in view both while getting a card and using it, to avoid any trap that incurs losses.

“As low as 9.99% APR!”

Your interests could be as low as 9.99% or as high as 20.99% or whatever determined by the company.

The Facts:

You must lead the “Schumer box” (where the interest rate is shown, mostly on the backside of application).If the company is offering you interests rate which is beneficial to them. Then you have to watch out that you might not be incurring any losses, or you may choose a credit card that offers a single take it or leave it rate. In that way you might be approved or rejected but you don’t have such feelings that someone cheated you.

“Up to 5% Cash back”5_percent_cashback

Several credit card companies offer you much less than 5% rebate until you spend a certain amount per year. Their rebates may fluctuate from 5% rebate for the first $300 purchases per month to 1% or less.

The Facts:

Don’t accept cards that offer a rebate “up to” a certain percentage and accept those only which offers a full percentage and keep a check on monthly or yearly rebates.

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September 2011
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