Sib5944

Credit Card Fool

We allow the credit card business to make fools folks and we do nothing about any of it. When someone told you that you were being made a of, wouldnt you address the matter? I know I'd. Credit card companies have revenue of $76.03 billion dollars and nearly all this revenue arises from late penalties and over control and advance loan fees. $29.2 billion came from late fines, $15.2 billion from over credit limit fees and $3.04 billion from cash loan fees. This amount is 62% of the credit card issuers income and finance charges does not be included by this. Nice gain! The above may be the reasons why credit card companies are able to afford to mail more than 5 billion credit card offers per year. This equals to 6 gives per household per month. Probably the $2 million in postage alone is just a reason why our government does not check out the credit card market significantly. Every bank and dealer wants one to have their credit card. Having their bank card allows them to produce huge profits. In 2001 equally Circuit and Sears City reported that over 50% of their corporate profits were from financing associated income. Do you think this might be the key reason why retailers will have an employee in front door of the shop offering you to register due to their charge card and inturn you receive a special gift or extra so called discount? Most particular gifts and additional discounts wind up costing you a lot more than the initial purchase as a result of finance charges. I could maybe not be able to confront these organizations that are trying to make a fool of me, but I can react by believing that Cash is King and using money instead of credit will save you money to me in the end. Personal money management and Its a Brand New Year must certanly be on top of your list for 2006. car finance bad credit discussions