Watch Out for Hidden Fees in Credit Card Offers, Attorney General Says

April 25, 2000

Credit card offers touting low annual percentage rates, no annual fees and user bonuses may look tempting, but Attorney General J. Joseph Curran, Jr. says many consumers have complained to his Consumer Protection Division that they were hit with high fees and high rates after switching their credit card balances to cards that promised low rates.

"Some credit card companies boldly offer attractive low rates while hiding in the fine print terms that make the rate much less attractive, such as that the low rate will only be good for three months, or that there is a fee for transferring balances from other credit cards," Curran said in his monthly publication The Consumer's Edge.

Curran says consumers should carefully read the fine print details to make certain the terms are as attractive as the impression made by the advertised claims, including details on the following:

Curran's office distributes The Consumer's Edge through more than 800 businesses, agencies, schools, and community associations. Groups interested in receiving a monthly issue should call 410-576-6956.

Media inquiries: Sean Caine (410) 576-6357