Credit Card Shocker

Have you ever looked at your credit card statement? I’m not talking about just making sure that all the transactions are correct. I’m talking about looking at the finance charges. I daresay that sometimes that figure is almost as great as the minimum monthly payment you’re making. After all, as long as you can keep the creditors at bay by paying the minimum, that’s all you care about, right? If you agreed, I urge you to reconsider.

I’m sure that by now, many of you realize that you lose money by buying on credit. Still, I don’t think many of you appreciate just how much your credit cards are costing you. I’d like to really drive that point home.

Let’s say that Joe decides… Read More..

Credit Card Penalties: A warning regarding your interest rate in the new year

I received a email recently from an old client the topic was regarding Credit Card increases. Due to the latest legislation that was past earlier this year, credit card companies are trying to do anything and everything they can before the new rules are implemented on February 22, 2010. As we know the average consumer should never agree with “Big Business” at face value. So what are the big credit card companies trying to pull before February 22, 2010, first they have raised the bar for who they deem as “good consumers” in-turn marginalizing the majority of credit card holders. Second, research is showing from the Pew Health Group, that these unjust credit card practices have become even more rampant. Pew research, has also reported that not one of… Read More..