Credit Card Offers Still Too Complex To Decipher: Study

Credit Card Offers Still Too Complex To Decipher: Study

NEW YORK — It’s becoming a little bit easier for credit card holders to understand the interest rates and penalty charges they face. That’s because regulations that took effect earlier this year are having an impact. But a study released Monday said credit card offers are still far more complicated than a decade ago, which makes it harder for consumers to comparison shop.

The greater complexity didn’t arise from a requirement that banks disclose more information to consumers, said Josh Frank, a researcher at the Center for Responsible Lending who authored the study. “It was mainly due to more complexity in terms, more fees, more complex fee structures,” he said in an interview.

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