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.
|10 MOST READABLE CREDIT CARD AGREEMENTS
||Reading level (years)
||Number of words
|1.||University of Illinois Employees Credit Union||6||280|
|2.||ESL Federal Credit Union||6.4||490|
|3.||Affinity Federal Credit Union||6.5||395|
|4.||MidFlorida Credit Union||6.5||309|
|5.||Associated Credit Union||6.6||421|
|6.||OnPoint Community Credit Union||6.6||528|
|7.||S.C. State Credit Union||6.7||424|
|8.||State Department Federal Credit Union||6.8||615
|9.||University of Michigan Credit Union||6.8||447|
|10.||Bank Fund Staff Federal Credit Union||6.9
|Source: CreditCards.com analysis of the credit card agreements contained in a database maintained by the Federal Reserve. Under the Credit CARD Act of 2009, all U.S. credit card issuers with more than 10,000 credit card accounts must submit their agreements to the Fed every three months.|
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
- Experian fined $3 million for deceptive credit score marketing – Experian falsely led people to believe they were buying credit scores actually used by lenders, consumer protection bureau charges ...
- 'The Aisles Have Eyes' author talks privacy and data in shopping – Author Joseph Turow discusses coupons, data collection and privacy in the personalization of the shopping experience ...
- APRs on the rise as Fed steps up rate hikes – Credit card users will pay higher rates on existing balances as the Federal Reserve votes to hike a key rate -- and predicts more to come ...