Money tips for the new year

I like to think I'm in the know on how to be financially smart but this tip from Ms. Suze Orman's top 10 tips for a prosperous year was new to me. I've got to do my research on my credit cards - have you heard about this?

Dump 'Universal Default' Credit Cards

The term may not ring a bell, but "universal default" could be costing you a lot of money.
Under the universal default policy, your credit card issuer scours your accounts every month, looking for any instance where you've tripped up. If they find a blemish, they'll use it as an excuse to change the rate on your credit card.

A car payment that's a day late can be enough to jack up a zero-percent intro rate to 15 percent, 20 percent, or more. In some cases, the default policy can even be triggered by an application for a new credit card or mortgage.

Almost half of credit cards issued use the universal default policy. Call customer service to find out whether yours does, and if so, seriously consider transferring to a card that doesn't. (http://finance.yahoo.com/creditcards)