WHAT DO YOU REALLY KNOW ABOUT YOUR CREDIT CARD?

THIS IS A MULTIVU SPECIAL REPORT. A NEW BRAUN RESEARCH SURVEY ABOUT CREDIT CARD KNOWLEDGE FINDS AMERICANS KNOW LITTLE ABOUT THE CARDS THEY CARRY. 44-PERCENT OF RESPONDENTS DON'T KNOW THEIR CREDIT CARD'S ANNUAL PERCENTAGE RATE WHILE 20-PERCENT DON'T KNOW THEIR CREDIT LIMIT.

EXPERTS AGREE THAT SOME OF THESE PROBLEMS COULD BEGIN WITH CREDIT CARD OFFERS. SURVEY FINDINGS SHOW NEARLY ONE-THIRD OF CONSUMERS EITHER DIDN'T READ OR HAD TROUBLE READING THE FINE PRINT CONTAINED IN OFFERS.

PERSONAL FINANCE EXPERT LYNNETTE KHALFANI:

"Credit card offers with really tiny fine print or those hard-to-find credit terms are just confusing. The good news though, is that some companies are taking proactive steps to make these terms easier to understand. Capital One, for example, has just started using these new sets of disclosures for all of their mail offers. They spell out the key terms of the credit card offer like the APR and the credit limit."

KHALFANI SAYS THE MOST IMPORTANT STEP IN FINDING THE RIGHT CARD IS TO COMPARE OFFERS AND SHOP AROUND.

FOR MORE INFORMATION, VISIT http://www.capitalone.com/financialeducation.

I'M LARRY CARDARELLI.

AUDIO PROVIDED BY: Capital One

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