About credit cards

I recently called a credit card company to learn about the some of the details that they will not disclose.  These are the details that I have collected.

Q:  If I miss a payment, will my interest rate go up?
A:  If you default twice within 6 months, your interest rate will go up by an amount decided by the credit card issuer.

Q:  If I withdrawl cash from my credit card, will I be charged interest immediately?
A:   Interest will be charged as soon as the cash comes out of the machine. (Most banks)
A2:  Interest will be charged 30 days after the date of cash withdrawl.  (Some banks)

Q:  I am a few days late paying my bill.  Will I get charged interest and a mark left on my Equifax and Transunion credit center?
A:  There is a 7 day grace period after the due date.  If the payment is received after the 7 day grace period, you will get charged and the credit center will be notified.  It is not possible to have the default payment removed from your records.

Q:  If I lose my credit card, will I get charged for unauthorized transactions?
A:  No, you have to notify us that the card was stolen and tell us which transactions are false.

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