Common Credit Card Tricks Played by Card Issuers

Experts have identified several common credit card tricks played by card issuers. Heritage Credit Union doesn't play these games. To avoid these card tricks, switch to a Heritage Credit Union Visa® credit card.

Things to watch for:

• You may have seen a great deal on a card and applied. Look closely: If you didn't qualify, the company may have sent an alternate card with different terms. If you don't want it, don't activate it.
• Zero-percent offers can cost more than you think. The zero rate may end after you miss a payment or the introductory offer expires-and the permanent rate can be much higher.
• Card companies sometimes change their payment P.O. Box. If you've got the wrong one, your payment could arrive late, resulting in a late fee. Verify the mailing address or use the envelope provided in your statement.
• While your payment may arrive on the right day, it still may be late if it doesn't arrive on time. Read your statement to see if a time has been set, such as "must arrive before 1 p.m."
• Even if the company forgives a late fee, the company may raise your rate because you were late.
• Use the cash advance feature only in emergencies. This rate may be higher than the purchase rate, and there's no grace period so you'll start paying interest right away.
• Many companies have started shrinking their grace periods (time before your payment is due) to 20 days or less.