what do you think about these credit card facts?

Question

i found a link on www.wowspark.com

its the 1st one in the link section that
talks about the things credit card companies dont want you to know

what do you think?

Answer 1

I think this article isn't telling me anything new. That's how credit card companies make their money and they don't try to hide it. If you read the credit card agreement before you apply for a card it always says that if you default on your credit card payment or if any other credit card payment they have the right to raise your interest rates up to the state maximum as well as charge you an late charge fee on from $29-$35.

If you monitor your credit report regularly you will notice that some companies that you have credit accounts with are consitently inquiring on your credit history. For instance I have a Wells Fargo credit card and every month for the past year they have checked my credit to make sure I am paying all my accounts on time. Credit cards are just waiting for people to mess up. They don't make any money off of the small part of the population that pays their card off every month.

Answer 2

its ok, but i think ive done that sleep driving thing to the left of that link.