Consumer Payment Card News

Card Bewilderment

A recent consumer survey shows that one-third of consumers don’t read or don’t understand the credit card disclosure chart in the mail offers they receive. More than 20% of respondents had trouble locating critical terms and other pertinent information. Nearly 44% of the respondents did not know the APR charged on their credit cards and 20% of cardholders did not know their credit limit. About 70% were unaware of “universal default” policies. The survey was released by Lynnette Khalfani, author of “Zero Debt: The Ultimate Guide to Financial Freedom” and other books. The research was conducted by Braun Research. for more information visit: “”:

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