The language contained in some credit card agreements is written at a 27th-grade level, according to a new report by the U.S. Government Accountability Office. And many cardholder agreements today contain language requiring a minimum of a 15th-grade education, the equivalent of three years of college.
Yet with only about half of U.S. adults reading above an eighth-grade level, the report said, credit card disclosures may be meaningless to millions of Americans.
