Is credit card "fine print" too complicated for consumers? A 2016 study from CreditCards.com argues that's the case.
"An analysis of more than 2,000 current card agreements shows they're written, on average, at the 11th-grade reading level - better than five years ago, but still too hard for at least half the population to readily understand," the report says.
Why are credit card contracts so mind-numbingly laborious? It's intentional, as card issuers really don't want you to know how their rate, fee and cost structures are tilted in their favor. Change that equation by getting wise on credit card contract fine print - especially these ten "gotcha" items.
More of What's Trending on TheStreet:
- This Part of the U.S. Jobs Market Recovery Has Been One Big Mystery
- This Company Has More Than $450 Billion in Sales and Has a Shot to Take Down Amazon, Jim Cramer Says
- 10 Best-Performing Stocks in the Dow: Cramer's 'Mad Money' Recap
- Tesla Headlines This Lineup of 12 Amazing New Cars for 2018
Watch More with TheStreet:
- 5 Ways Companies Are Using AI to Secretly Change Your Life
- The People Who Love Tesla's Cars Buy the Stock, Jim Cramer Says
- Why the Bull Market Could Run for Another Decade
- These Foreign Car Companies Have Pretty Big U.S. Manufacturing Plants