There has been much talk recently regarding credit card companies and their strong armed tactics dealing with debt strapped consumers. No one will argue with the fact that credit card companies are alienating their client base by slashing credit limits, raising interest rates and closing inactive accounts. Many people consider these changes downright criminal yet the fact remains that no laws have been broken.

Credit card companies are making these changes in an attempt to lower the risk of default which from a strictly business perspective makes absolute sense. From a strictly emotional viewpoint it is also easy to see why consumers are outraged. Credit card issuers like any other business market their “product” to entice customers to try their product over others in the same industry. As consumers we must take responsibility for looking beyond savvy marketing to understand the real product. Be on the lookout for the following marketing strategies which some consider downright misleading.

Introductory Offers - Introductory offers are common in many industries to entice new customers and increase business. By their very nature, introductory offers will expire. Consumers should understand the default interest rates which will be applied after the low interest period has passed and determine if a great low introductory offer is better than a lower interest rate that won't jump in a few months.

Balance Transfer Offers - Transferring a high interest credit card account to low interest account has long been an accepted way of saving money on interest charges. Compared to a few years ago, balance transfers are not as lucrative as they once were. If you are considering transferring your balance, understand initial and long term interest rates and the cost of transfer fees which have doubled or tripled in price recently.

Miscellaneous Fees - Interest rates and APR's dominate the decision when it comes to selecting a credit card offer. The cost of various fees is often a rather costly afterthought. Understanding how quickly late, over the limit and cash advance fees add up should help you manage your account more responsibly.

The best way to avoid falling for clever marketing schemes is really very simple. Read the terms and conditions AND the fine print before you apply for and use a credit card. Once you accept the terms and conditions you are bound by them. Many may feel that signing a deal with a credit card company is similar to becoming an indentured servant. In many cases that is closer to the truth than many consumers want to admit. Keep in mind however both parties, consumers and credit card issuers alike enter into this agreement. Unfortunately the credit card companies are not really agreeing to anything besides extending credit, since their terms and conditions are liable to change on a their whim. Consumers need to educate themselves before entering an agreement with a credit card company. In doing so you can feel confident that you at the very least know what you can expect and take steps to avoid problems with your account in the future.