A J.D. Power survey of 14,000 credit card users found that just 47 percent of those polled completely understand their credit card terms, and only 59 percent completely understand their cards' reward programs.
However, among those who think they understand the card terms, 73 percent do not understand the interest-rate policies, and 31 percent do not understand late-payment fees. Additionally, the supposed benefits of their cards are unknown to 33 percent of respondents. Experts say a lack of knowledge about credit cards could affect consumers' indebtedness.