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Sunday, August 10, 2008

Free Credit Cards : The Truth About Free Credit Cards

Free Credit Cards

There are many credit card offers claiming they are free credit cards. What they mean is that they do not charge you for the card. It does not take much to figure out that can not be true. Credit card companies do not make any money without charging some kind of fee. These free credit cards are nothing more than a play on words to lure you into huge fees and charges. The truth about free credit cards is they do not exist. If they did wouldn’t everyone use them?

The main selling points for these free credit card deals are they have no up front charges. They do not charge and application fee or processing fee. This is often true, but where they get you is with the other fees, like high interest rates or transaction charges. Some also offer free interest. This may also be true, but read the fine print and you will see that this is for a limited time and in most cases, only applies to certain purchases. These free offers are just a way to get you to sign for the card and then slam you with charges later.

It is illegal for a credit card company not to disclose charges and fees to you before you sign up for the card. They are not, however, liable for the fact that you did not read all the information provided. That is why reading everything is important. The companies use small print for things they would rather you did not read. That is why it is even more critical you read these areas. The fine print almost always holds the catch to the great deal they are announcing in the huge print. Here is where you find out that the free interest lasts only six months and only applies to balance transfers. Always keep your eyes out for the small print so you can avoid falling into the credit card companies trap. The old saying that if it seems too good to be true then it is, really does speak the truth when it comes to free credit cards.

The majority of free credit card offers are only a limited offer to get you to get the card. The real fees kick in and you find yourself in credit trouble. Credit cards are the main way people fall into debt. They are easy to abuse because you do not have to keep a running tally like with debit cards or checks. These offers are often seen as a great deal because people do not take the time to read all the information provided. It can be a hassle to read through the legal wording while squinting at the small print, but it is even more of a hassle to clean up a bad credit record.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Free Credit Cards.

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