Make money work for you!

  • Home
  • Personal Finance
  • Budgeting
  • Shopping
  • Taxes

12 Important Secrets Your Bank Would NEVER Tell You

May 4, 2023 · Personal Finance
Bank
Photo by GreenOak at Shutterstock

Every time you swipe, banks cash in

Did you know about this? Each time you spend money or pay for anything using your credit or debit card, you pay a price. The store is charged a fee for processing your transaction. And most of that amount goes back to your bank.

So even when you’re spending your own money, the bank still cashes in as a result.

A graphic illustration of credit cards falling like dominoes, symbolizing how one missed payment can trigger a universal default.
A red credit card triggers a domino effect ending with a heavy weight labeled default crushing cards.

Beware of the universal default clause

You might be itching to sign up for a credit card with your local branch. But before you do that, make sure you inquire if it has a “universal default clause.” This is also commonly referred to as “the ultimate poison clause in credit cards.”

If you find out that it does, run for the nearest exit sign. This clause allows your bank to look through all your credit accounts, and if it notices that you’re delinquent in paying a bill on a different card, it gets to jack up the interest rate on the one you have with them.

Pages: 1 2 3 4 5 6 7

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A person sits at a sunny kitchen table reviewing bills with a pen and coffee, embodying a proactive approach to household budgeting. 7 Household Expenses Worth Reviewing Today
  • A senior man in a knit sweater sits at a sunny wooden desk at home, organizing legal documents and folders in a quiet morning setting. 9 Things Retirees Should Put in Writing
  • A person holding a phone at night showing multiple scam notifications about packages, banks, and tolls. 9 Everyday Messages You Should Never Respond To
  • Close-up of house keys on a wooden table with moving boxes and a sold sign in the blurred background. 7 Signs It Might Be Time to Downsize
  • A woman in her 60s working peacefully at a desk in a sunlit home office with garden views. 9 Flexible Retirement Jobs Paying More Than Most Seniors Expect
  • A man in his 70s sits at his kitchen table reviewing a 2026 retirement distribution on a tablet next to his Social Security statement. Your 2026 RMD Could Affect Social Security Benefits - Here's How
  • 9 Retirement Communities With Surprisingly Low HOA Fees
  • What about stop-and-go traffic? Can I save some gas by turning off my vehicle? Seniors: Will You Have to Retake Your Driving Test This Year? What You Should Know About DMV Rules
  • A woman in her late 50s joyfully works on a woodworking project in her sunlit garage, representing a vibrant lifestyle. 5 Smart Ways to Use Your Life Insurance While You're Still Alive
  • An infographic titled 'The Subscription Leak' showing a funnel of money with data points about household subscription costs. 8 Subscription Services Americans Are Quietly Replacing With Cheaper Alternatives

Newsletter

Get money-saving tips and personal finance advice delivered to your inbox.

Related Articles

small business

Top 7 Best Small Business Ideas to Start After 50

6. Invest in Real Estate Another small business idea that might work is real estate,…

Read More →
low interest rates

15 Tips To Lower Your Interest Rates

A woman reviews documents and makes a call in a cafe, taking proactive steps to…

Read More →
No-Spend Challenge

Are There Benefits to a No-Spend Challenge? We’ll Give You 3!

Neatly stacking linens into a wooden drawer is a great way to appreciate your belongings…

Read More →
A high-end desk setup with a Social Security card and a gold pen, representing presidential financial benefits.

Is Trump on Social Security? A Look at Presidential Benefits

Does Donald Trump collect Social Security? We break down presidential benefits, the $250k pension, and…

Read More →
Social Security checks, money mistakes and retirees buffett

10 Worst States to Live on Just a Social Security Check

6. Maryland Cost-of-living index: 124.0 Average one-bedroom rent (January 2022): $1,397 Hugging the Chesapeake Bay…

Read More →
pay

Never Pay for These 14 Things With Your Credit Card

“SALE” items If you feel like you will miss out on savings if you don’t…

Read More →
overhyped collectibles

6 Overhyped Collectibles That Are Now Worthless

Most of us have that dusty shoebox of baseball cards or the old coins that…

Read More →
A mature couple sits at their kitchen table with a laptop and paperwork, appearing focused on their retirement planning in warm morning ligh

8 Retirement Money Moves Americans Wish They Made Earlier

Discover eight critical retirement money moves to maximize your wealth, lower your lifetime taxes, and…

Read More →
Ink drawing of a person cutting a giant price tag to reveal a lower price underneath, symbolizing the power of negotiation.

10 Things You Should Always Negotiate but Most People Never Do

Learn how to negotiate everyday expenses like medical bills, credit card rates, rent, and insurance…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Subscribe
  • Unsubscribe
  • Newsletter
  • Terms and Conditions
  • Do not sell my personal information
  • Privacy Policy
  • Contact
  • Request to Know
  • Request to Delete
  • CA Private Policy

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.