The e-book Credit Card Capers tells you everything that the banks and credit card issuers do not want you to know.
After a short introduction to the history of credit, dating over 3000 years back, the author, Tom Koziol, goes on to explain what to look out for when choosing a credit card.
The book explains you what the fine print in the credit card agreement actually says, and you will learn how you can recognize any dirty tricks. The dirty tricks can vary from stuffing envelopes with so much garbage that you do not bother to read any of it, to hiding extra fees and charges behind complicated terms.
One question by the way; did you ever read and understand all the fine print of your credit card agreements? No? If not, maybe it is time to do so to avoid surprises.
The book explains you the difference between cards like affinity cards, secured and unsecured cards and what the different payment options like charge, revolving and instalment means. It also explains the pros and cons with Travel and Entertainment (T&E) cards and House cards (shops, malls etc.)
In the book there is a section dedicated to the explanation of all the different fees that come with using the card, and it is in this section some of the most dirty tricks are exposed. You also get a warning about unannounced “bonuses” from the credit card issuer and what these “bonuses” actually are.
Another question by the way; did you ever think about why salespeople from different credit card companies jump on you to sign up for their card? It feels like every time I go into a mall or I go to an airport, there is someone there to offer me “easy money”. I wonder if it has something to do with 18% APR and a mountain of fees?
The book is written with Americans in mind, but the information is valid for anyone using a credit card, anywhere in the world. A fee is a fee, and a dirty trick is a dirty trick no matter where you live. I live in Europe and I have learned a lot from this book.
Personally, I do not use credit cards, I use a debit card. It has the same world-wide usability as any credit card, but there has to be money in the account for me to be able to use it. That simply means that I have to make the money BEFORE I spend it.
Of course, I also get flattered and tempted when a young beautiful woman comes running after me and offers me a gold card with a sky high credit limit. I have managed to resist so far and, after reading this book, I think it will be even easier to say; No, thank you! No matter how beautiful she is.
My advice: Read the book, or at least read the fine print on your credit card agreement!
The book is only sold as an e-book and is not available at Amazon. It is expensive (27$), but it is well worth the investment if it can save you from consumer debt. Even if you do not want to buy the book you can still visit the website and read what Tom Koziol writes himself. [NB: This product is no longer available so the link has been deleted.]
The book comes with two bonus reports by Tom Koziol:
- How to avoid credit card fraud.
- How much is your mutual fund actually costing you?
I have posted more reviews of interesting books here on Blogcritics.