Barboza6417

Credit Card Fool

We allow the credit card business to produce fools people and we do nothing about it. When someone told you that you were being made a of, wouldnt you address the matter? I know I would.

Creditors have revenue of $76.03 billion dollars and nearly all this revenue originates from late charges and over limit and advance loan fees. $29.2 billion came from charges, $15.2 billion from over borrowing limit fees and $3.04 billion from advance loan fees. This amount is 62% of the creditors income and finance charges doesn't be included by this. Nice profit!

The aforementioned could be the reasons why credit card companies are able to mail more than 5 billion credit card offers annually. This equals to 6 provides per household per month. Perhaps the $2 million in postage alone is a reasons why our government does not research the credit card business seriously. bad credit cars

Every bank and retailer wants one to have their charge card. Having their credit card allows them to create large profits. In 2001 both Sears and Circuit City reported that over half of their corporate earnings were from finance associated income. Do you think this may be the key reason why merchants will have a worker at the front end door of their shop giving you to sign up because of their charge card and in exchange you get a speci

al gift or extra so called discount? Most special presents and extra discounts find yourself costing a lot more than to you the initial purchase due to finance charges. 

I may maybe not be able to confront these institutions that are attempting to create a fool of me, but I could react by assuming that Cash is King and using cash as opposed to credit will save you money to me in the finish.

Personal money management and Its a New Year should be on top of your record for 2006.