There are many credit card offers claiming they are free credit
cards. What they mean is that they do not charge you for the
card. It does not take much to figure out that can not be true.
Credit card companies do not make any money without charging
some kind of fee. These free credit cards are nothing more than
a play on words to lure you into huge fees and charges. The
truth about free credit cards is they do not exist. If they did
wouldn't everyone use them?
The main selling points for these free credit card deals are
they have no up front charges. They do not charge and
application fee or processing fee. This is often true, but where
they get you is with the other fees, like high interest rates or
transaction charges. Some also offer free interest. This may
also be true, but read the fine print and you will see that this
is for a limited time and in most cases, only applies to certain
purchases. These free offers are just a way to get you to sign
for the card and then slam you with charges later.
It is illegal for a credit card company not to disclose charges
and fees to you before you sign up for the card. They are not,
however, liable for the fact that you did not read all the
information provided. That is why reading everything is
important. The companies use small print for things they would
rather you did not read. That is why it is even more critical
you read these areas. The fine print almost always holds the
catch to the great deal they are announcing in the huge print.
Here is where you find out that the free interest lasts only six
months and only applies to balance transfers. Always keep your
eyes out for the small print so you can avoid falling into the
credit card companies trap. The old saying that if it seems too
good to be true then it is, really does speak the truth when it
comes to free credit cards.
The majority of free credit card offers are only a limited offer
to get you to get the card. The real fees kick in and you find
yourself in credit trouble. Credit cards are the main way people
fall into debt. They are easy to abuse because you do not have
to keep a running tally like with debit cards or checks. These
offers are often seen as a great deal because people do not take
the time to read all the information provided. It can be a
hassle to read through the legal wording while squinting at the
small print, but it is even more of a hassle to clean up a bad
credit record.
About the author:
Morgan Hamilton offers expert advice and great tips regarding
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