Lots More Information

Related HowStuffWorks Articles

• How Credit Cards Work
• How Revolving Credit Works
• How Debt Works
• How Debt Consolidation Works
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• How Credit Reports Work
• How Credit Scores Work
• How Banks Work
• How Mortgages Work

More Great Links

• Watch Frontline's Secret History of the Credit Card
• AnnualCreditReport.com
• myFICO

Sources

• CFA. "Push To End Unfair Credit Card Interest Rate Hikes and Fees Gains Momentum." Consumer Federation of America. Press Release. Feb. 14, 2008. (Aug. 1, 2008) http://www.consumerfed.org/pdfs/Push_to_End_Unfair_Credit_Card_Interest_ Rate_Hikes_Gain_Momentum.pdf
• Frontline. "Secret History of the Credit Card." Frontline. Public Broadcasting Station. Nov. 23, 2004. (Aug. 1, 2007) http://www.pbs.org/wgbh/pages/frontline/shows/credit/view/
• Burt, Bill. "'Universal Default' rules explained." Bankrate.com Updated Jan. 25, 2007. (Aug. 1, 2007) http://www.bankrate.com/brm/news/credit-management/20040120a2.asp