Credit Card Myths

AZCentral.com has a story on understanding credit cards.

It answers some questions on some common credit card myths :-

• Myth: “As long as I make my credit-card payment, the interest rate won’t change.”
• Myth: “Card issuers need my consent to change key terms.”
• Myth: “Interest rates on credit cards stay the same for people who pay their bills promptly.”
• Myth: “It’s important to report lost cards immediately to minimize financial liability.”
• Myth: “The federal government caps the amount of interest that can be charged on credit cards.”
• Myth: “My credit-card problems won’t affect my ability to buy insurance or other services.”

While some of the points are only valid for my North American friends, quite a few apply to Australia as well.
Read the full article Here