Educating Consumers About Universal Default
In an article titled 'What Credit Card Companies Don't Want You To Know", David Bach, author of The Automatic Millionaire, writes in his Yahoo! Personal Finance column about universal default - and how and why consumers should avoid credit cards issued with that provision. Bach recommends: "Check today and see if you have the universal default clause on your credit cards. If you do, be careful to stay on top of your debt. Better yet, find a credit card that doesn't have the clause -- you'll sleep better at night."
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