Tuesday, April 16, 2024
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Beware of abusive terms on these credit cards!

credit cardThis financial tool, considered by many to be an ally in daily life, can become a trap in your pocket if you are not careful.
National Council for the Protection and Defense of Users of Financial Services (Condusef) has alerted consumers to abusive clauses that some financial institutions include in contracts for these cards, which can have a significant impact on personal finances.
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Credit card terms
Terms you should look at with a magnifying glass Some allow banks to collect past-due debts from other accounts without specifying terms or balances., or a person who authorizes the receipt of partial credit in other bank accounts without the prior consent of the owner. In addition to being abusive, these practices can create considerable financial imbalances.
Other problematic provisions include the requirement to notify the bank before advance paymentand banks impose arbitrary criteria for applying these payments to debts.
Additionally, some entity restrictions Availability of deposit account balances while credit is validwhich limits users’ financial freedom.
But that’s not all, there’s also Terms that may be vague or unfairsuch as determining the date a check payment is credited or determining the reason for an early credit expiration related to other loans from third parties.
What can we do about these abuses?
first, A thorough review of your credit card agreement is critical before signing.
Don’t let bank staff force you to sign Not understanding all the terms first, especially those in fine print. If something is unclear, please feel free to ask and ask for a detailed explanation.
If you notice abuse of the Terms, Kondusev will protect you. Please feel free to file a complaint with the institution so that they can take action against the financial institution concerned.
Bottom line, protect your money and your rights as a consumer. Don’t be surprised by abusive clauses in your credit card contracts. It is important to know and understand your rights to avoid becoming a victim of unfair financial practices.

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