BACK

Research and Statistics

10 most readable credit card agreements

Summary

Of all the credit card contracts posted online in a new Federal Reserve database, these were the 10 most readable, according to a CreditCards.com analysis.

The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we may receive compensation when you click on links to products from our partners. Learn more about our advertising policy.

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Please see the bank’s website for the most current version of card offers; and please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

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.

10 MOST READABLE CREDIT CARD AGREEMENTS
RankContract issuerReading level (years)Number of words
1.University of Illinois Employees Credit Union6280
2.ESL Federal Credit Union6.4490
3.Affinity Federal Credit Union6.5395
4.MidFlorida Credit Union6.5309
5.Associated Credit Union6.6421
6.OnPoint Community Credit Union6.6528
7.S.C. State Credit Union6.7424
8.State Department Federal Credit Union6.8615
9.University of Michigan Credit Union6.8447
10.Bank Fund Staff Federal Credit Union6.9441
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 banksHow 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

 

What’s up next?

In Research and Statistics

Credit card Interest rates fall for first time since May

Credit card interest rates fell last week for the first time in more than two months, according to CreditCards.com’s Weekly Rate Report.

Published: July 21, 2010

See more stories
Credit Card Rate Report Updated: December 11th, 2019
Business
15.09%
Airline
16.88%
Cash Back
17.38%
Reward
17.04%
Student
18.58%

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.