Charges on Credit Cards

Do you check your credit card statement to ensure it’s accurate?  Are there any unexpected items on it?  Research indicates that, although we are responsible for our statements, we rarely, if ever, review it thoroughly.

Here’s why you should – you may encounter some unexpected charges.  For example, there are approximately three million people still paying a dial-up charge for AOL, most of whom no longer need it.   Other charges may turn out to be unwanted “automatically renewing” charges.  Such fees arise from a subscription that had an automatic renewal clause written in the contract that continues in spite of the maturity date unless you first provide them with written notification of cancelling the contract.

Other charges that may surprise you could be from “cost creep”, slowly increasing a fee for a service which seemed affordable some time ago but has now increased to dubious value.

So check your statements to ensure you are getting value from your credit cards.  Speaking of which, other items to check are interest rate and fees.  Check out UKFCU’s great credit card value, you can even design your own card!

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