WASHINGTON — In a move which some have criticized as too little, too late and self-serving, the American Bankers Association has rolled out a guide that it hopes will help consumers better understand their credit cards and better evaluate credit card offers.
The ABA said that the "Guide to Credit Cards" is designed to help cardholders and applicants better understand the specifics of credit card use, improve their ability to successfully benefit from credit card ease and convenience.
The guide addresses topics such as different annual percentage rates and how they work; what are grace periods and how best to use them; how payments are allocated to existing balances and how a consumer can choose the best card for their needs.
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