Your credit card agreement can be an intimidating piece of paper. Many people are tempted to skip over the jargon-laden fine print because they feel like they need a finance or legal degree to understand it. But misunderstanding your credit card agreement could end up costing you in fees in penalties and could also do some serious damage to your credit score.
It is important to know some of the key “credit agreement” buzzwords so that you know what you are getting into when you are signing the dotted line on your new credit card.
CreditCards.ca interviewed Jeff Schwartz, executive director of Consolidated Credit Counseling Services of Canada, to learn about the importance of the credit card agreement. The article also includes a must-read glossary of the technical terms you can expect to encounter when dealing with credit cards.
To read the full article, click here.
If confusing credit card statements or agreements have caused you financial turmoil, call to speak with a trained credit counsellor about how you can take control of your credit card debt and get your life back on track. You can also initiate the counselling process online by trying our Free Debt Analysis.