At present we can hardly imagine our life without credit cards. On the one hand, credit card deals can make your life easier and give you many benefits. But on the other hand, if you don't know all the rules of the credit card game, you can easily make a mistake and get into a trap. There are many different pitfalls about credit cards, and the worse thing of them ? most of them are legal. Many credit card owners even don't know about all these hidden credit traps. But it is so easy to fall into credit card companies? disgrace that can bring you a lot of problems.

One of the worst credit card traps is so called ?universal default?. Let's see what is it? And how can it affect your credit history?

Most Americans don't read their credit card applications from ?cover to cover?. They just look the agreement through without thinking the points over. In the pursuit of the we pay more attention to the benefits that credit cards can give us than to possible losses. And few of us find pitfalls in the fine print of an agreement. But these pitfalls are great in number!

Have you ever heard about clause? If no, you are lucky! But check your credit card agreement to make sure that there is no such clause in it! Otherwise you should be very careful about all the payments! Just think, in case you miss just one payment or make a late payment on your mortgage, car loan or even worse on your credit card, your low interests can jump two or three times high! The rule is, if there is the universal default clause in your credit card agreement, your bank or is entitled to raise your interest rates up to 30 percent. And be sure, they don't miss a chance to get more money out of you!

If this happens to you, unfortunately, you can do nothing but pay higher interests. Raising credit card interest rates is a legal action that is imposed on careless debtors. But still, there is a way to avoid such a situation!

First of all, keep away from that come with universal default. Read carefully your credit card agreement! If there is a point that you don't understand clearly, call your bank and get the necessary explanations. Make sure that you understand every clause in your agreement and it will be easier for you to avoid any credit card trap.

In case you own several plastic cards, study all your credit card agreements. Make sure, that neither of your credit cards implies universal default. If you have a card with this clause, transfer your balance onto another one that won't imply this clause. But be aware! Cancelling a credit card can affect your credit history. Contact your bank, to make sure that you won't spoil your credit history by cancelling one of your credit cards.

Keep track of your balance and credit card bills. Try to make all the necessary payments on time and check your credit report from time to time. In case there is a mistake in your credit report, call to one of four credit bureaus and clear up the situation. Don't neglect the points that play the leading role in your financial well-being! Use your credit card wisely and you are sure to enjoy all the benefits credit cards can give us.