Advertised rate vs real rate
Loan ads show a low rate, but add all the fees and change the calculation method, and the real cost can be much higher.
COVER FIRST
Hide personal details
Cover your name and ID number on the loan papers, then ask a chatbot, an AI assistant you chat with, to explain each line.
METHOD
Original or reducing balance
Ask AI whether interest is charged on the original amount or on the reducing balance, and to list every fee.
CREDIT CARDS
Statement date and due date
For credit cards, ask AI to explain the statement date, the due date, and what happens if you only pay the minimum.
This article is based on the video Reading loan and credit card terms from the Mark học AI channel. Watch the video (in Vietnamese) to see the animations.