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When credit card companies are trying to get you to sign up for their card, they are often quick to tell you about the benefits of using the card. However, what they are telling you is not as important as "what they aren't telling you." This in my opinion is more important, because it is often the factor that causes cardholders to end up giving the credit card companies their hard earned money. Before you get a credit card, it is important for you to know what they won't tell you. Knowing these things will save you both money and headaches. Here are the top ten things that credit card companies will "forget" to tell you.

1. They will often forget to tell you that they may close early on the day your payment is due.

2. They will forget to tell you that if you fail to make your payments on time even once, they will put you in universal default and charge you a higher rate of interest.

3. Even if you have read and understand the agreement, the credit card company can change their policies whenever they like, as long as they give you a 15 day notice, which isn't much.

4. If you go over your credit limit, the credit card company may not decline your purchase, but by the time you get your billing statement, you will understand why.

5. When you are not responsible, the credit card company will profit.

6. They are one of the primary causes of identity theft. They like to share you information with other banks and credit agencies.

7. They are quick to give cards to your children, because children tend to be more irresponsible than adults.

8. Their "free" rewards programs may not be free at all.

9. Credit cards are more secure than debit cards, because unlike debit cards, the money on the credit card belongs to the bank, and they have a vested interest in protecting it.

10. Depending on the amount you owe, it may take you years to pay off the balance, and they will earn billions of dollars from all their combined customers in the form of residual income.

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