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Whose Reading the Fine Print on Credit Cards?

Credit cards can be very easy to sign up for. As long as someone has good credit, fills out an application, and signs his or her name on an agreement, a credit card is going to be issued. A credit card is not even all that difficult to use.

So, why is it so difficult to understand what is in the credit card agreement? Amazingly, a sOKignificant amount of people really do not know what comprises their credit cards’ terms.

One reason pointed out is the reading level on the terms is beyond the average reading level of the equally-average person. There may be a grain of truth to this, but the greater reality would be people do not even try to read the terms. Many become too enamored with being able to purchase whatever they want without serving up cash to care. Others look at rewards or gift points and focus on what they may get for free. Unfortunately, they do not always look at the interest rates or annual fees. Being too thrilled over getting a very high line of credit on the card clouds attitudes towards terms. Sadly, this leads to using a card a bit too freely. Debt amassing tremendously when such an attitude is left unchecked.

The drafters of the terms do, however, have a tendency to bury the less-than-appealing aspects of the terms in the proverbial fine print. Things that might not be very appreciated by those who are considering procuring the card are published on the last page.

Of course, someone who has no desire to read the terms at all won’t be worried about what is in the fine print or even the large print. Again, being too thrilled over the ability to procure a new credit card is not going to necessarily contribute to the cause of being fiscally safe.

Consumers should be protected by reasonable rules and regulations, but there does have to be some responsibility taken by those same consumers on their own behalf. Reading all the terms and conditions associated with a particular credit card deal is a must. Otherwise, paying ridiculous amounts of interest becomes unavoidable.