Cardholder Agreement

When you signed up for a new credit card, did you ever stop and read the cardholder agreement? Probably not. But it can provide some important information that could come back to bite you if you don't know it. The most important tidbit to note is the annual percentage rate (APR), which is the amount of interest charged if you don't pay off the card in full each month.

You also want to see if there are any annual fees and if so, how much they will cost you. In addition, the agreement will state what you will be charged if your payment is late, your check bounces or if you go over your credit limit. There also might be some good news as well, like details about cash-back earnings, airline miles or points to buy products.