credit-card issuers

If you look at the stats of people who are unaware of the fact that they’re paying a penalty interest rate on their balance then you will find that the numbers are shocking. There are 50% of American card holders who are unaware of that fact.

They may know about the inflated rate, but they don’t understand why that rate has been applied to their balance.  Studies has shown that, when we talk about credit cards, then what you don’t know can create a problem for your finances.

Changes to Interest Rates

Most of the people criticize the way that credit card issuers handle interest rate change notifications. They don’t make sure that the customer knows how much interest they’re paying or why.

There could be an increase in interest as a result of a late or missed payment, or that could just because the company increased their interest rates in general.

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Tagged as: American card holders, cash advances, credit card companies, credit card repricing, Credit Card Statements, Credit Cards, credit-card issuers, interest rate

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