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Credit card secret traps are the concealed side of plastic that maintains you in debt that is hard to pay off. The chief aim of credit card companies is for you to carry the largest balance you can possibly repay.

Trying to avoid these credit card secret traps is slippery because credit card companies constantly raise your credit limit, and offer you fringe benefits to get you to charge even more.

Credit card companies can get very originative with fees and interest rates and that's where you can get into financial trouble. To avoid this from happening here are some common credit card secret traps to be aware of when you compare credit card company terms.

Two Cycle Billing

The two rhythm balance method is where the interest on your average day-to-day balance is computed using both your purchases from that charge rhythm and charges from the calendar calendar calendar month before.

Even if you paid off your full balance from the month before, that figure is still used along with your current month purchases to cipher your average day-to-day balance. This credit card secret trap can maintain you in deep debt for decades.

Credit Card Grace Period

A credit card saving grace time period is the number of years before the credit card company starts charging you interest on new purchases. Most cards have got got a saving saving saving grace time time time period but mind of the cards that don't.

If you have a card with no grace period, you always pay interest on new purchases from the twenty-four hours you do the purchase, even if you pay your measure in full.

Cash Advances

You almost never get a grace period for cash advances, which intends you get paying interest on that advance right away. Also, the interest rates on cash advances are typically higher than the ordinary rate on card purchases. A cash advance is costly and one of the most common credit card secret traps.

Credit Card Late Fees

Credit card companies can enforce brawny punishments on any balance that you pay late or balances that transcend your limit. But the punishments of credit card late fees don't stop there.

If you go against even one of your credit cards terms, other credit card companies may also penalize you with punishment rates even if you have got never missed payments on them.

Interest Rate Changes

Credit card companies are allowed to change your interest rate anytime, provided they give you 15 years notice. So read what your credit card company mails you because some companies will mouse this by hoping you won't catch it.

The underside line is read the small black and white in the credit card terms provided by the card issuer regarding the credit card company regulations concerning the charge method, saving grace time period as well as the interest rates and fees.

Also, believe about how you will utilize the card, especially if you anticipate to carry a balance. Then, compare credit card company terms and seek to take the card that maintains you from falling into these credit card secret traps.

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