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Be Mindful Of Credit Card Policy

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Credit card promotional mailings have increased over the past year. Since the Credit Card Accountability, Responsibility and Disclosure Act of 2009 became law, banks have doubled promotional mailings. As a result, it is important to keep an eye on account policies, especially if you have a history of credit card debt.

A total of 1.4 billion card offers were mailed to American consumers in 2010, which is more than twice the amount that were sent out the year before, according to Buffalo, New York, news source WIVB. Of those delivered, 80 percent were for rewards-based accounts.

It is important to not get caught up in a card offer that promises vacations, or other perks, as these usually are typically equipped with higher interest rates, the news source reported. If you have a history of credit debt, or do not pay your card off in full every month, these cards may not be the best choice.

Other cards, such as those that offer balance transfers, sometimes do not specify that these are for new purchases only, the news source added. These offers can be costly, and not something that is fit for you to help build your credit.

Timely articles written by the Editors at DRC

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