Ask the Experts: Credit Cards | WalletHub

Pepperdine Graziadio Associate Professor of Finance, Maretno Agus "Augus" Harjoto, PhD, is part of WalletHub's "Ask the Experts" series. He answers common questions about credit cards and offers advice on applying and selecting the right ones.

Dr. Harjoto notes that credit cards have become one of the most lucrative revenue generators for financial institutions. He specifically advises consumers to read the "fine print" regarding benefits, interest charges, annual fees, hidden fees (foreign exchange fees, transaction fees, cash advances fees, late payment/overdue fees, etc.), and card cancellation policies. He also warns against paying only the minumum due each month, as this is incentivized by the card-issuing banks and not necessarily in the best interest of the consumer.