Top 16 Dirty Secrets To Know When Using Credit Cards

Credit card dirty secrets. Mysterious person holding a credit card.

(5) Fine Print Secret

It is another ridiculous credit card dirty secrets for hiding various facts about its use. Fine print is an easy means of hiding or stipulating normal or actual rate of interest from customers.

It helps them to hide introductory or teaser rate as well as other terms & conditions. As very few customers ever read those fine prints to dig up the reality in promotional traps.

You should always read & understand all those top secrets or facts of using them. These fine print secrets may include purchase protect, lifetime warranty coverage, travel discounts, promotional rate of interest, change of Annual Percent Rate (APR) at any time, etc.

Thus, if you are smart enough then you will not be surprised at a later stage.

[Read Also: 10 Amazing Tricks To Maximize Cash Back Rewards Without Over Spending]

(6) Cash Advance Secret

It is another most important yet hidden credit card dirty secrets to know. If you need cash to pay off a bill that doesn’t accept credit cards then you may have to go for cash withdrawal process using your card.

You can withdraw cash from your card either at a bank, or an ATM, or by using a check linked to your credit card account.

Most credit card issuers charge a special fee on the transaction amount (2% to 5%) without any grace period. It means you have to pay interest every day until you repay cash advance.

Cash advances are always having highest interest rate then ordinary rate on card purchases. Banks also rearranges balances so that highest interest balances are paid off last.

You should take cash advances only for real emergencies. If taken, you can only stop paying highest interest rate by repayment of entire credit card debt.

Image Source: Shutterstock

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