Disclosures on credit card applications improve, study finds
We here at WalletPop tell you over and over again to read the fine print in anything you receive from your credit card company, but a new study aimed to figure out just how forthcoming card companies are before you even get to the fine print. Website CardHub.com evaluated credit card applications from America's top 10 issuers to discover if you know what you'll be getting yourself into before you start squinting or have to pull out a magnifying glass.
"It's improved relative to what it used to be," Odysseas Papadimitriou, CEO and founder of CardHub.com, told WalletPop in a phone interview. Motivated by a combination of regulatory changes and consumer demand for easy-to-understand information, issuers today are responding by being more up-front about things like rates and fees.