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Your email address will not be published.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 warm, textured paper collage showing scissors trimming a receipt alongside icons of a house, car, and grocery basket. 7 Purchases Retirees Are Cutting Back On
  • An illustration of a classic mailbox with an envelope reading 'Social Security Update: Proposed Boost' under warm morning light. Congress Is Considering a Bigger Social Security Raise Than the COLA - Here's What We Know
  • A stylized screenprint illustration of a geometric shield protecting a glowing compass and home from abstract red lightning bolts. 5 Places People Turn to Protect Their Money During Global Conflict
  • An illustration of a senior couple protected by a large canopy shaped like a tax document, representing savings. Social Security Tax Elimination: Who Could Gain $1,500—and Who Could Miss Out
  • A close-up photograph of a person at a kitchen table reviewing their bank accounts on a phone next to a notepad of calculations. Using Autopay? Avoid These 6 Common Mistakes
  • A collage showing a person's silhouette made of shredded medical forms and a Medicaid card, with a padlock symbolizing protection. Find Out If You Were a Victim of Medicaid Fraud!
  • A minimalist ink illustration of a June 2026 calendar with the 15th circled in bold red ink and a fountain pen resting nearby. Don't Miss These Important IRS Tax Deadlines in June
  • A navy folder labeled 'Vital Financial Documents' sits on a kitchen table next to a coffee mug and a secure fireproof lockbox. The Safest Places to Store Your Financial Documents
  • An editorial collage featuring a brass compass, financial documents, a family photo, and a metal key, representing a financial roadmap. 8 Financial Details Loved Ones Need to Know
  • A senior man smiling at a laptop in a sunlit public library with books on the table and a park view through the window. 10 Simple Retirement Joys That Cost Nothing

Newsletter

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

Related Articles

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

An older couple reviews a DMV notice together to stay informed about more frequent license…

Read More →
A retiree in a cardigan sits at a sunny kitchen table, carefully reviewing bank statements with a red pen and a magnifying glass.

9 Bank Fees Retirees Still Pay Without Realizing It

Learn how to identify and avoid the nine most common bank fees that drain your…

Read More →
A calm retiree sitting at her kitchen table looking out a rainy window, symbolizing peace of mind during market volatility.

8 Ways Retirees Are Protecting Their Nest Egg From Market Swings

Discover eight proven strategies retirees are using in 2026 to protect their savings from market…

Read More →
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

Discover the seven undeniable signs that it is time to downsize your home, cut monthly…

Read More →
Debt Free Lifestyle Habit

10 Best Debt Relief Programs for Seniors

6. Mortgage Assistance & Reverse Mortgages Housing costs are one of the highest expenses seniors…

Read More →
Risks, Emergency Fund

8 Risks of Not Having an Emergency Fund

A couple reviews their finances on a tablet, ensuring their cozy home is protected against…

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 →
lower prices

These Items Will See SHOCKINGLY Lower Prices in 2024

A smiling woman holds a price tag in a modern showroom, highlighting the trend of…

Read More →
Make Money While You Sleep

15 Ways to Make Money While You Sleep

Start your day with a steaming latte and a laptop screen showing your financial investments…

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.