Four Credit Card Company Tricks
A Credit Article Contributed by Mistie Cauley
Credit Card Company Rate Increases Caused by Just about Any Thing
A credit card company can increase your interest rate for any thing they choose at the time. The companies look at your credit report often and use the excuse of a late auto payment to raise you interest rate. They can charge you more in interest rates just for being a minimum payment person every month. The credit card companies can make up their own reasons for raising your interest rate, and tell you nothing. It is in the contract you signed. Read the small print. They can do it and you can do nothing.
The Credit Card Company Tries to Sell Credit Card Theft Insurance
Credit card companies try to sell credit card theft insurance. It is not necessary to have theft insurance. If your credit card is stolen you are only liable for a minimum of fifty dollars. So why do you need credit card theft insurance? Well you do not, but the credit card company will try and make you believe you do so they can make more money off of you.
The Credit Card Company Charges More in Fees Then They Give You in Credit
Have you noticed all the fees you are charged by your credit card company? They charge annual fees, interest fees, finance charges and what ever else they can charge to you. If you have a credit card limit of four hundred dollars, and your fees are three hundred and sixty dollars, you have a forty dollar balance before you have even received your credit card.
The Credit Card Company Changes Their Mailing Address So Your Payment is Late and They Can Now Charge You a Fee
Many credit card companies change their P O Box number frequently so if you send a payment to the old address, more than likely the payment will be late and now the credit card company can charge you a late fee. To avoid this from happening to you, always use the envelope provided to you with your credit card statements. You could also pay your credit card bills online or by phone. If you have been a victim of credit card company mail box trading and have been charged a late fee, you can call the company and demand this charge be taken off.
Credit Card Company Tricks, are You Getting Tricked?
Credit card companies have many money charging tricks up their sleeves. Are you getting tricked? Be sure to check your credit card statement very carefully every month. Call the credit card company to complain about any discrepancies. The company may put you on hold over and over again, but hang in their, persistence pays off. If you are not satisfied with the answers from the credit card company they have to provide you with a number or address to appeal your credit card charges. Use this number or address to your advantage.
