When you read or watch ads of credit card companies, you are every time convinced in the fact that they lost sleep over thinking about your needs and problems. Plastics they issue have the lowest imaginable rates and fees, you will receive rewards that will double-cover your expenses. Do you usually believe that? And can this sometimes be really true?



It is a fact that even the most reputable banks can send their customers card offers with suspicious perks. On their way to big profit, credit companies locate their operation centers in such states as South Dakota or Delaware (known for having less restrictive consumer protection laws). Plus, they promote credit card offers which can at first attract you with the absent interest rates and breath-taking rewards. What are the tricks those dirty offenders use and how can one show them up? There are some tips for you to consider.

* Fishy teaser rates. You may be offered a super-low or absolutely zero APR, but they in most cases come out of effect very soon. Such king of deals can be very appealing, especially for those who are eager to transfer the existing debt to a less expensive card. There are two most dangerous consequences of applying for these cards.

The incredibly low interest rate can end in several months quite unexpectedly, or can be applicable only under certain circumstances. So it is of vital importance to read the fine print. Besides, after the low APR ends, with a considerable balance on now expensive card, you can be offered another alluring deal. Regular balance transfers are sure to lower your credit score and are costly, as fees are often charged for this service.

So, here is the conclusion: read the fine print and find out what interest is charged for purchases, balance transfers etc. After several minutes of calculation you will easily understand whether the deal is worth taking or not.

* "You are pre-approved!" Mind it that credit card companies can be very tricky with their pre-approved offers. On the one hand, a person with very bad credit can be pre-approved for a card with a sky-high interest rate and huge fees. On the other hand, you can be pre-approved for a credit card you are not eligible for: the bank looked through the credit reports, but not very thoroughly.

* Fees that suddenly change or appear. Some lenders start to charge fees under certain circumstances you can find described in tiny letters. So, even if the application terms do not speak of a balance transfer fee, it can be charged is, for example, you transfer the balance from a card issued by another bank. Don't be lazy and read everything in detail.

* You were cheated about the credit limit, grace period or the like. First of all, check the terms and conditions of your credit card deals – probably, your grace period is disabled in case you pay off the balance on a monthly basis. If you simply cannot receive the services you were promised, wait no longer and cancel the card.

As you see, there are different tricks offenders use to make fast money. And when you see your card is not the one you were promised to be given, think: is this deal worth the fees and rates you pay?