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Your email address will not be published.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

  • 8 Signs You Need a Trust, Not Just a Will 8 Signs You Need a Trust, Not Just a Will
  • An editorial illustration showing a tropical resort popping out of a legal contract locked with a heavy padlock. 9 Signs a Timeshare Isn't the Investment It Was Sold As
  • A retired couple reviews their tax documents and budget at a sunlit wooden kitchen table in a warm, candid photographic scene. 7 Signs Your Tax Withholding Needs Adjusting in Retirement
  • An editorial ink and watercolor illustration of a person pulling scattered financial assets from distant clouds into one central account. 8 Signs You Should Consolidate Old Retirement Accounts
  • An ink and watercolor illustration of a magnifying glass over a contract revealing hidden red exclamation marks and caution signs. 9 Signs a Financial Advisor Isn't the Right Fit
  • An older couple calmly reviewing financial paperwork together at a sunlit wooden kitchen table, shot on warm 35mm film. 7 Signs Your Emergency Fund Needs a Retirement-Era Update
  • An editorial illustration of an hourglass where golden sand representing wealth quietly leaks out of small side cracks, symbolizing fees. 8 Signs You're Paying Too Much in Investment Fees
  • A retired couple reviews physical financial statements together at a sun-drenched wooden table in a cozy home setting. 9 Signs Your Investment Portfolio Needs Rebalancing in Retirement
  • A cozy room with a vintage suitcase decorated with international stickers next to a sunlit armchair. 8 Countries Where Work History Can Combine With US Credits
  • An active retiree couple reviews a Southwestern map on a sunny wooden deck with distant hills in the background. 7 Mid-Size US Cities Seeing the Fastest Retiree Population Growth

Newsletter

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

Related Articles

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

Discover ten fulfilling and completely free activities for retirees, from college auditing and premium fitness…

Read More →
retire

Free Tuition? 8 Colleges That Offer This to Seniors

A smiling senior woman uses her laptop in a bright library, proving that curiosity and…

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

Can You Live on Social Security Alone in 2025?

As millions of Americans near or enter retirement, one crucial question continues to dominate the…

Read More →
pool

Pool Regret Is Real! 7 Reasons Not to Invest in One

A stressed man sits with his head in his hands, overwhelmed by the mounting costs…

Read More →
Work From Home, change 2023

10 New Jobs That Pay You Daily (Anyone Can Do This!)

5. Handy If you’re good at cleaning or doing small home projects, it’s likely worth…

Read More →
Social Security

The 4 Worst Ages to Claim Social Security (—and What to Do Instead)

Deciding when it’s the right time to start your Social Security must be one of…

Read More →
home-selling mistakes

6 Home-Selling Mistakes That Make You Lose Money

5. Not waiting to negotiate We know that everyone thinks that the price they list…

Read More →
name as a brand

6 People Who Used Their Own Name as a Brand

A visionary leader overlooks the city skyline, reflecting on the powerful brand legacy she built…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Contact
  • Editorial Policy
  • Advertiser Disclosure
  • FAQ
  • Subscribe
  • Unsubscribe
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • Do not sell my personal information
  • Request to Know
  • Request to Delete
  • CA Private Policy

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.