5 credit card tricks to avoid

>> THANK YOU SO MUCH, JENNIFER COMING UP ON THE "TODAY" SHOW, WE GO TO TO TALK TO FIRST AMY COMING UP ON THE "TODAY" SHOW, WE'RE GOING TO TALK TO AMY FIRST ABOUT WHAT'S GOING ON IN WE'RE GOING TO TALK TO FIRST AMY ABOUT WHAT 'S GOING ON IN CONSUMER NEWS

ABOUT WHAT'S GOING ON IN CONSUMER NEWS THE AVERAGE US HOUSEHOLD HAS CONSUMER NEWS THE AVERAGE US HOUSEHOLD HAS ABOUT 5,700 DOLLARS OF CREDIT THE AVERAGE US HOUSEHOLD HAS ABOUT 5,700 DOLLARS OF CREDIT CARD DEBT, BUT YOUR CREDIT CARD ABOUT 5,700 DOLLARS OF CREDIT CARD DEBT, BUT YOUR CREDIT CARD COMPANY COULD BE TRICKING YOU CARD DEBT, BUT YOUR CREDIT CARD COMPANY COULD BE TRICKING YOU INTO PAYING EVEN MORE COMPANY COULD BE TRICKING YOU INTO PAYING EVEN MORE >> AMY DAVIS IS HERE TO TELL US INTO PAYING EVEN MORE

>> AMY DAVIS IS HERE TO TELL US WHAT TO WATCH OUT FOR >> AMY DAVIS IS HERE TO TELL US WHAT TO WATCH OUT FOR THEY'VE GOT THE TRICKS, AMY WHAT TO WATCH OUT FOR THEY'VE GOT THE TRICKS, AMY

>> WE ALL KNOW THERE ARE CARDS THEY'VE GOT THE TRICKS, AMY >> WE ALL KNOW THERE ARE CARDS THAT WILL SUCK YOU IN WITH IN WITH PROMOTIONS IN WITH PROMOTIONS THERE ARE WAYS THAT CREDIT CARDS PROMOTIONS THERE ARE WAYS THAT CREDIT CARDS COMPANIES KEEP YOU IN A CYCLE OF THERE ARE WAYS THAT CREDIT CARDS COMPANIES KEEP YOU IN A CYCLE OF DEBT

COMPANIES KEEP YOU IN A CYCLE OF DEBT BEWARE OF LOWER MONTHLY DEBT BEWARE OF LOWER MONTHLY MINIMUMS BEWARE OF LOWER MONTHLY MINIMUMS MINIMUMS USED TO BE AROUND 5% MINIMUM

MINIMUMS USED TO BE AROUND 5% GOAL COMPANIES FOUND LOWERING MINIMUMS USED TO BE AROUND 5% GOAL COMPANIES FOUND LOWERING THIS AMOUNT TO TWO TO 3% MADE PURPOSE COMPANIES FOUND LOWERING THIS AMOUNT TO TWO TO 3% MADE THEM MORE MONEY THIS AMOUNT TO TWO TO 3% MADE THEM MORE MONEY IF YOU PAY LESS PER MONTH NOW, THEM MORE MONEY IF YOU PAY LESS PER MONTH NOW, YOU ARE UP PAYING MORE INTEREST IF YOU PAY LESS PER MONTH NOW, YOU'LL UP PAYING MORE INTEREST IN THE LONG RUN YOU END UP PAYING MORE INTEREST IN THE LONG RUN

ANOTHER GOTCHA, SOME CARDS OFFER IN THE LONG RUN ANOTHER GOTCHA, SOME CARDS OFFER TO BIG BONUS FOR SIGNING UP, LIKE ANOTHER GOTCHA, SOME CARDS OFFER TO BIG BONUS FOR SIGNING UP, LIKE AIRLINE MILES FOR OPENING AN A BIG BONUS FOR SIGNING UP, LIKE AIRLINE MILES FOR OPENING AN ACCOUNT, GOAL THERE'S USUALLY A AIRLINE MILES FOR OPENING AN ACCOUNT, THERE'S GOAL USUALLY AT CATCH, LIKE HAVING TO SPEND A ACCOUNT, THERE'S GOAL USUALLY AT CATCH, LIKE HAVING TO SPEND AT CERTAIN AMOUNT IN A SPECIFIC CATCH, LIKE HAVING TO SPEND SOME AMOUNT IN A SPECIFIC TIME PERIOD SOME AMOUNT IN A SPECIFIC TIME PERIOD WATCH OUT FOR BALANCE TRANSFER TIME PERIOD WATCH OUT FOR BALANCE TRANSFER FEES

WATCH OUT FOR BALANCE TRANSFER FEES THESIS CAN RUN FROM 3% TO 5% OF FEES THESE CAN RUN FROM 3% TO 5% OF THE AMOUNT TRANSFERRED THESE CAN RUN FROM 3% TO 5% OF THE AMOUNT TRANSFERRED CHECK TO SEE IF YOUR CREDIT CARD THE AMOUNT TRANSFERRED

CHECK TO SEE IF YOUR CREDIT CARD COMPANY LOADS ANNUAL FEE CHECK TO SEE IF YOUR CREDIT CARD COMPANY LOADS ANNUAL FEE BEFORE YOU SIGN UP COMPANY LOADS ANNUAL FEE BEFORE YOU SIGN UP SOMETIMES THE PROMOTIONAL OFFER BEFORE YOU SIGN UP SOMETIMES THE PROMOTIONAL OFFER WILL ADVERTISE NO ANNUAL FEES SOMETIMES THE PROMOTIONAL OFFER WILL ADVERTISE NO ANNUAL FEES BUT WHICH ONLY APPLIES FOR THE WILL ADVERTISE NO ANNUAL FEES BUT THAT ONLY APPLIES FOR THE FIRST YEAR BUT THAT ONLY APPLIES FOR THE FIRST YEAR

LASTLY, THIS HAPPENS TO A LOT OF FIRST YEAR LASTLY, THIS HAPPENS TO A LOT OF PEOPLE, IF YOU DECIDE TO CLOSE LASTLY, THIS HAPPEN TO A LOT OF PEOPLE, IF YOU DECIDE TO CLOSE YOUR ACCOUNT, MAKE SURE THERE PEOPLE, IF YOU DECIDE TO CLOSE YOUR ACCOUNT, MAKE SURE THERE ARE NO PURCHASES PENDING BECAUSE YOUR ACCOUNT, MAKE SURE THERE ARE NO PURCHASES PENDING BECAUSE JUST ONE SMALL REMAINING CHARGE ARE NO PURCHASES PENDING BECAUSE JUST ONE SMALL REMAINING LOAD THAT YOU FORGOT ABOUT CAN LEAD JUST ONE SMALL REMAINING LOAD THAT YOU FORGOT ABOUT CAN LEAD TO RESIDUAL INTEREST AND THAT YOU FORGOT ABOUT CAN LEAD TO RESIDUAL INTEREST AND A FINANCIAL NIGHTMARE TO RESIDUAL INTEREST AND FINANCIAL NIGHTMARE >> IT HAPPENS A LOT FINANCIAL NIGHTMARE

>> IT HAPPENS A LOT >> YOU KEEP SAYING, I PID