10 most readable credit card agreements
CreditCards.com analysis of major card issuers contracts finds best, worst
Unlike the 10 most unreadable credit card agreements, these 10 are a breeze to read.
Experts in readability say that contracts should require, at most, a ninth-grade reading level if they are to be widely understood. These credit card agreements easily met that test, as measured by readability programs in a CreditCards.com analysis of more than 1,200 credit card contracts
in a new Federal Reserve database. The agreements were analyzed using the "FOG Index" -- a mathematical formula that determines how many years of education readers need in order to understand the content.
See related: MAIN STORY: Credit card agreements unreadable to 4 of 5 Americans, 10 most unreadable credit card agreements, 10 wordiest credit card agreements, Readability of credit card agreements from biggest 20 banks, How credit card agreements' readability compares to familiar documents, Quotable: What lawmakers, consumer activists, bankers say, 3 language experts try to make sense of a card agreement, Federal database of credit card agreements not user friendly, Video: Consumers try in vain to understand credit card agreements
Published: July 22, 2010