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Strange times are these in which we live, when old and young are taught in falsehoods school. And the one man that dares to tell the truth is called at once, a lunatic and fool. - Plato When you apply for a creditcard online, there are several things that are helpful to know. In this credit card debt article we'll give you information on how to get... the best credit card rate and how to do a credit card balance transfer. As a credit card user, there are several things you should know about companies issuing creditcards . Number one is that even if you make your credit card payments on time each month, the credit card companies can raise your interest rate automatically if youre late on payments elsewhere. This means that if you are late on another credit card payment, or the phone bill, the home loan, or simply because the bank thinks you have taken on too much debt, they can raise your interest rates. This is known as the universal default clause and is becoming a standard clause in credit card agreements. Banks think that if you are neglecting bills elsewhere they dont want to risk not getting paid either. Here's the credit card industry's jargon for its customer categories: "Revolvers" roll credit card balances over month to month, never paying in full. "Deadbeats" pay their balances off in full every month. "Rate Surfers" or "Gamers" shift usage between credit cards based upon interest rates. There is no limit on the amount a credit card company can charge a cardholder for being late on a payment, even if its an hour late. Before 1996, late fees ran $5 or $10. Then in 1996, the U.S. Supreme Court in Smiley vs. Citibank lifted the existing restrictions on late penalty fees, causing them to soar, reaching upwards of $30. Credit card companies have almost doubled their revenue from charges for late fees, over-the-limit fees, and fees for returned checks. It is possible these penalty fees could rise as high as $50. Always read the fine print on your credit card agreement. Tucked into the fine print that people ...Read More