Credit Cards are Dangerous in the Hands of the Majority

Credit Cards are Dangerous

Credit Cards Are Dangerous in the Hands of the Majority

Hello folks! Credit card debt and bad credit is challenge many folks face. Today I wanted to go into this issue and offer resources for help and assistance.

Consumers get convenience and credit card companies make profit from the interest they charge. The vast majority of their income would not be created if credit card users simply accepted that convenience and paid off their statement balances in full at the end of the month. The card companies are delighted that the vast majority of credit card holders don’t do that! Therein lies the danger of credit cards. Holders are not required to pay off their bills in full; there is a minimum payment to be made printed on the statement. It allows consumers to buy things that they have insufficient cash to purchase by taking credit. It allows them to overspend in their daily lives to supplement their monthly income. The interest that card users pay for the privilege is high, some would say penal, and credit card debt is a major problem wherever cards are available and that includes every state of the USA. Continue reading Credit Cards are Dangerous in the Hands of the Majority