With all of the talk of fee and market transparency in the credit markets…Payday Pundit wants to remind everyone of the steps the payday lending industry has proactively taken to address the concern over hidden fees and fine print.

Last night on PBS, Frontline re-ran a program called: Secret History of the Credit Card. The show highlighted some facts about credit cards that make the criticisms about payday lending look like child’s play. 

What Payday Pundit found particularly interesting is that by paying only the minimum balance every month, it could take you 35 years to pay it off in full!

Also of note was the fine print found on all of the credit card agreements. The fine print is in stark contrast to the fees displayed on posters in large type in all CFSA member company payday lending stores. 

For consumers, Frontline lists ”8 Important Things a Credit Card User Should Know.”

It’s ironic that so-called consumer activists would advocate that credit card cash advances are a better option than payday loans.