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Credit Card Red Flags to Avoid
Manage episode 341676016 series 3390705
Вміст надано Jasmine Kaur. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Jasmine Kaur або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
If you're new to credit or trying to rebuild, checking a credit card's terms and conditions before you apply can help you spot red flags that are likely to cost you more and help you less.To end up with the right card in your wallet, it's important to steer clear of predatory options. Here are five red flags to look out for.
For more information read: https://www.launchora.com/story/credit-card-red-flags-to-avoid
Excessive Fees: There are credit cards specifically designed for people who are working to build or rebuild credit, and most do not charge fees for setup or monthly maintenance fees. Before you apply, check to be sure that you won't be paying fees that you can easily avoid.
Partial credit reporting: Cards with incomplete credit reporting can be problematic because you won't necessarily know from which bureau a future lender might be pulling your credit report.
High interest rates: If you don't carry a balance month to month, then a credit card's interest rate is irrelevant; you'll never owe any interest. But financial hardship and other factors can make it necessary to carry debt, which can be convenient but expensive.
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