It’s so easy to go into debt credit card companies merely look at a credit score if it deems acceptable they bestow credit and unleash the gates of hell. Sure I know a person needs to be responsible for thier actions quard themselves from going to far into debt, but when you are raising a family and those pop up problems arise like cash needed for something in everyday life a small piece of plastic sure does come in handy right? Problem is when it comes to paying that plastic back, then the fees and this and that’s next thing you know you are online trying to find another card to cover the first card thinking you can get a better deal lower your interest rates the new card offers so many monthes interest free then at the end of the period wham you are hit with huge interest rates the cycle never ends, so many American families are barely hanging onto thier sanity because they have so much stress by be enslaved by the credit card companies who make it far to easy to open several accounts and rates and interest are so high you can barely make the minimum payments each month, while you are trying to find ways to pay these cards off they lower your credit scores and that only digs your graves deeper into debt. Owe as little as $1000 on credit debt and you will pay for years and years to clear this debt. It should illegal for credit card companies to charge such large fees for using thier credit they go unchecked and families struggle to meet everyday needs. I’m sure thier are some that take advantage of the credit system and over spend not caring about thier own credit scores but most people care very much and try very hard to keep thier expenses in check, but when you have to pay so many fees to even use the cards it’s very hard to have extra money when lives problems hit families so they continue to use the cards to help keep thier life’s afloat.
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yeah. I heard many families ruined themselves by going into credits on their card. They could not come out of their debts and finally even addicted to drugs. They became slaves of so many people and even losing their families. The ultimate thing responsible for this problem is Credit card, debit card etc.,
I myself, though not an American paid a lot for the credit card. Finally, with a great hectic effort could come out of the problem. Later, informed the Bank to close down my account and tared off the Card and kept it in the mail box.
Yes. I agree with you.
Indeed, even I have suffered by spending more on credit cards and not paying back full amount on time. Sometimes, these cards do help in staying afloat, but at a huge cost.
I surrendered my credit card because of its high interest. It takes our credit to double every two years. Credit is good but surcharges when fails to pay is more than killing a person.
Indeed, credit cards can give us purchasing power that we never have considering that our salaries are just more than enough for our needs.
We should be very careful in using our cards. See to it that whatever you purchased through it, should be immediately paid before it earns an interest.
You should know when the cut-off is for their billing. That way, you can purchase after they have made their cut-off and pay it before they will again do the billing. That way, you will not pay any interest.