7 surprising facts about credit cards
By Melissa Lambarena | NerdWallet
Using a credit card to make purchases is straightforward, but understanding the ins and outs of how exactly they work can be more complicated.
On the back end, credit card issuers can take certain liberties that impact your cards’ features. If you dig into the fine print, you’ll find that card issuers generally mention they can make certain account decisions at their discretion. There are also unwritten liberties issuers can take, potentially in your favor. For instance, an issuer may be cooperative when you request lower interest rates, a higher credit limit or a switch to a different card entirely.
The more you understand your credit cards, the better you can navigate them.
Here are a few facts about credit cards that are good to know.
1. Some credit card terms can change with little if any warning
You may become accustomed to certain perks, rewards, fees or even interest rates over time, but those features can change — some more quickly than others. You’ll often find language supporting this in a card’s terms and conditions.