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Your email address will not be published.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

  • Mature couple sitting at a wooden kitchen table reviewing retirement planning documents and budget folders. 6 Key Risks That Could Drain Your Retirement Savings
  • A woman and an elderly man sitting at a wooden dining table reviewing a medical care and budget binder together. Can You Actually Get Paid to Care for an Aging Parent?
  • An older woman sits at a kitchen table writing in a ledger surrounded by receipts and a steaming mug. Latest Inflation Data Drives Down 2027 Social Security COLA Forecast
  • Donald Trump Money Secrets tax plans tariff Social Security Now Poised For Big 'Trump Bump' in 2027
  • 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

Newsletter

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

Related Articles

Donald Trump Money Secrets tax plans tariff

Trump’s 2025 Tax Plans: What He HIDES From You

It shouldn’t come as a surprise that Donald Trump’s second presidency represents completely different things…

Read More →
A retired couple confidently reviews financial documents together in their sunlit, cozy living room.

How to Protect Your Retirement Income From Inflation

Learn practical, actionable strategies to protect your retirement income from inflation, including TIPS, I bonds,…

Read More →
side gigs

5 Side Gigs You Can Do from Your Smartphone

Hands holding a smartphone over a wooden table with coffee, demonstrating how easy it is…

Read More →
IRS refund

IRS Pandemic Refund Window Extended: See If You Qualify!

How to Check If You’re Owed Money The first step is simple: review your tax…

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 →
healthcare wealth

Here’s How to Cover Your Healthcare Costs in Retirement in Your 50s

Learn more about Medicare Many adults think that Medicare will take care of most of…

Read More →
stimulus checks

Stimulus Checks 2023: Which States Are Still Sending Payments?

Illinois Who’s Eligible: Here’s another state that authorized two tax rebates in 2022—one for property…

Read More →
tricks to build wealth

How to Build Wealth: 7 Ways the Top 1% Do That

5. Protect your house from unexpected, costly repairs Home repairs are everything but cheap. Whether…

Read More →
A senior citizen sits at a desk, reviewing paperwork and ignoring a ringing phone, with a computer displaying a secure website.

7 Common Financial Scams Targeting Seniors and How to Avoid Them

Scam #4: The Romance Scam The romance scam is a particularly cruel form of financial…

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.