What Triggers Credit Card Universal Default

I love my credit card. It earns me a free round trip from Japan to the US about once a year. I charge absolutely everything on it to earn the miles. Each year when I receive the renewal notice and the $50 fee, I call the credit card company and politely ask them to waive it or I will have to change cards. Every year to this point, they have. I always pay off my balance each month – automatic deduction from my bank account so there is no chance the payment will ever be late. There are some great advantages that credit cards can provide if you remember to always pay of the balance. For those that don’t, credit cards are probably one of the worst financial instruments that you can u


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One Response to What Triggers Credit Card Universal Default

  1. B. Durbin says:

    Another thing to look out for if you decide (for whatever reason) to carry a balance is if the minimum payment covers interest, because if it doesn’t, your balance increases while you’re paying every month! Discover is notorious for this, though I don’t remember if they were the ones who recently had to change that policy due to a lawsuit.

    Oh, and they charge you fees? Interesting… I’ve never had a fee card, but then ten years with one card might do that for you.

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