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Avoid Common Card Tricks
Experts have identified several common credit card tricks played by card issuers.
UW Credit Union doesn't play these games. To avoid these card tricks,
switch to a UW 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
- 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
- Many companies have started shrinking their grace periods (time before your payment
is due) to 20 days or less.