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While Credit Cards Can Be Very Useful, You Need to Use Them Wisely
American Express ConsumerFeature
Fully produced report in MP3 format:
48 kbps |
96 kbps
(60 seconds)
-- How Will You Use This Story? --
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READER SCRIPT
(DOES NOT FULLY MATCH AUDIO)
IN TODAY'S UNCERTAIN ECONOMY--WITH THE PRICE OF GAS, FOOD, AND TRAVEL ON THE RISE--CONSUMERS ARE TEMPTED TO STRETCH THEIR BUDGET WITH CREDIT. WHILE CREDIT CARDS CAN BE A USEFUL FINANCIAL TOOL, IT IS CRITICAL TO USE THEM WISELY. ACCORDING TO AMERICAN EXPRESS, TAKING A SMART APPROACH TO CREDIT IS ESSENTIAL TO BUILDING AND MAINTAINING YOUR CREDIT HISTORY. YET, MANY CONSUMERS DO NOT TAKE THE TIME TO LEARN THE TERMS AND CONDITIONS ASSOCIATED WITH THEIR CREDIT CARDS--OR EVEN UNDERSTAND WHAT'S IN THEIR STATEMENT. A GOOD PLACE TO START IS WITH YOUR A-P-R, OR ANNUAL PERCENTAGE RATE--WHICH IS BASICALLY THE FINANCE CHARGES THAT APPLY TO YOUR BALANCE, CASH ADVANCES, AND BALANCE TRANSFERS. IT'S IMPORTANT TO KNOW THE DIFFERENCE BETWEEN A STANDARD A-P-R, AND A CASH-ADVANCE A-P-R--AND TO UNDERSTAND HOW YOUR A-P-R CAN BE AFFECTED BY LATE OR MISSED PAYMENTS. PAYING YOUR BILL ON TIME--OR, EVEN BETTER, IN FULL--IS THE BEST WAY TO LIMIT FEES. LATE PAYMENTS CAN TRIGGER A HIGHER A-P-R--SO IT'S VERY IMPORTANT THAT YOU UNDERSTAND THE CONSEQUENCES OF LATE PAYMENTS. TAKING THE TIME TO REALLY UNDERSTAND YOUR TERMS AND CONDITIONS ENSURES THAT YOU ARE AN INFORMED CONSUMER--AND ARE IN CONTROL OF YOUR FINANCES. TO FIND OUT MORE, VISIT: "AMERICAN-EXPRESS"-DOT-COM-SLASH-"CONSUMER-RESOURCES".
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