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Credit Card Plans and Services; Read Your Agreement
If you’ve wondered for quite some time about your credit card
plans and services and their effect on you then this
information is for you. You are probably not aware of it but
there are thousands of institutions that mail their credit card
offers to more than 6 billion people each year. Credit cards are
in general bad business and should be avoided at all cost.

Debt is a product that is being sold each of us by banks and
credit card service companies. Last year credit cards
produced more than 150 million dollars in profits. Most of this
money was taken from people who least could afford to pay it.  
As we have said credit cards are very bad business. Proverbs:
states that “borrower is the slave to the lender” and the
American people have become slaves to the banks and credit
card companies.

It would be far wiser to obtain a debit or check card tied to
your bank account than obtain a credit card. Better yet would
be to live on a cash basis. However modern society is tied to
the use of plastic money so a debit card will do nicely.

If you are financially fit and have the genuine need of a credit
card you should choose your card carefully. Take the time and
read your credit card plans and services agreement carefully.
If you can really understand it you will be amazed at what it
says. Basically they can change the plans rules any time they
feel like it.

Recently a business associate found that he was having
trouble keeping up with his monthly credit card payments.
When he took the time to exam his monthly statement he
found that the credit card company had raised his interest rate
to a whopping 31 percent. They had done this without even
notifying him of the change. He has never missed or been late
on a payment and calls to the credit card company produced
no explanation for the rate increase.

When this happens you should contact the credit card
provider and try and I say try to get the rate reduced to its
former level. It goes without saying rate reductions are rare.
The best option is to pay off the credit card debt entirely and
use a debit card. Then you can search for a friendly credit card
provider if there is one.  If you are carrying too much debt to
pay it all off at once then you should consider transferring the
debt to another lower interest credit card.

Again before you sign up for a new lower rate card you should
take the time to carefully review the credit card plans and
services agreement before you even think about signing your
name to it. In general most credit card plans and services
agreements have the same language that allows them to
arbitrarily raise your rate without notice. You can easily see
that credit card companies have replaced mafia loan sharks
and now collect over 90 billion dollars in fees and late
payments each year. It is their major source of income
especially after causing the home mortgage crisis.

Failure to manage your credit card debt will hurt you and your
family. Some experts have stated that credit card debt is the
number one cause of divorce in America. Credit cards are bad
for you and all your loved ones. Just say no to credit cards.

                 Credit Card Plans and Services
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