Debt Advice Helpline admits that one of the biggest mistakes that people make when they are taking out any sort of credit – loans, credit cards, anything, is that they don't read the small print. People are often so happy to be getting the credit that they want that they will sign almost anything. For others it is simply not caring, trusting that they have a good deal. Others are blinded by the 'special offers' that caused them to sign up in the first place.
But why is it such a big mistake?
The Small Print
In almost any deal that involves credit or debt you ALWAYS need to be considering the small print. We could talk generalities but it might be more illuminating to consider specifics for a second. With the help of Debt Advice Helpline, Let us take a look at credit cards:
With credit cards you might think that you are getting a great interest rate... but that is often just a cover charge. Many credit cards offer a wonderful interest rate for the first 6 months, but after that you will revert to the 'normal' interest rate which is far less attractive and will, in fact, be likely to cost you money.
Many credit card companies try to hide their fees. Everyone will miss the occasional minimum monthly payment – even if for nothing less suspicious then forgetting to make the payment. Very few companies are prepared to admit just how much they will charge you for this kind of problem.
Monthly payments are something that is creeping into every day life for such things as credit cards. We're not talking about minimum monthly payments for money that you owe, what we mean here is monthly payments for using their services. This information will usually be hidden in the small print, that is why calling Debt Advice Helpline will best assist you with money you owe.
Debt Advice Helpline will teach you that many companies will be happy to tell you that there is insurance on the card and any purchases made by it – but they are less forthcoming about what it actually covers. Credit cards, as in this example. And debt in general, can have a lot of hidden extras. Always read the fine print before signing up – otherwise you are playing fast and loose with your finances.
Brought to you in part by Debt Advice Helpline
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