How do credit card companies take advantages of costumers or the effects of having one?

Need help writing a paper, i need some topics/points on how credit card companies take advantage of Americans? Or like the effects of having a credit card.


I have no knowledge about credit cards what so ever.|||Most credit card companies take advantage of their customers by offering "teaser" rates and then hiding damaging clauses in the fine print of the ten page agreements. Others, hit you with hefty fine if you miss a payment even for just one day. Others, lure you in using balance transfer offers. Ultimately, it lands of each individual to prepare themselves and read all of the fine print. It may not be fun, but it takes care of being caught off guard.



The worst thing I have seen credit card companies do is to change the terms of the agreement after getting the customer. I think this is the most repulsive of all things a credit card company can do.|||First, you need to learn some basic info on credit and credit cards. Educate yourself: http://www.credit.com/credit_information鈥?/a>


http://www.ftc.gov/bcp/edu/microsites/mo鈥?/a>





Credit cards are a useful tool, IF you use them correctly. Like anything, misuse creates problems. A knife is a very useful till if you use it correctly. However, some folks use knives to kill or injury themselves or others. Same with credit cards.