The Most Stupid Thing People Do With Credit Cards
It is unfortunate that many people find themselves stuck in loans and debts with credit cards.
They are under bad credit but having bad credit loan is only partially the reason.
Credit cards are very powerful, it's a source of money that anyone can use to get anything they want.
Do the rich and wealthy people like Donald Trump use their own physical cash to get the things they want? No, more often then not, they use credit cards.
Why then are so many people stuck with bad credit card debts then? For a really simple reason - they buy things that are depreciative in value and they don't pay it off immediately when the bill arrives in the mailbox! People who don't pay off their credit card bills quickly end up paying something called idiot tax; which is the most stupid thing that anyone can do with credit cards because it's basically extra interest that should have never existed! The ultimatum with bad credit debt management is bankruptcy.
A simple way to not land in such a situation is to pay more than the minimum amount required, this helps in more ways than one.
If minimum payments are made for a $1,000 credit card debt, it takes over nine years to have it paid off! Not to mention the amount of idiot tax required for failing to pay the minimum over the repayment period.
Also, different credit cards have different interest rates.
So, pay off the bills or debts which have higher interest rates first before settling the ones with smaller interest.
The sooner higher rate debts are rid of, the more money saved and the faster the rest of the debts can be paid off.
The smartest thing anyone can do to deal with credit card debts isn't to head over to a debt consolidation company, it's to learn how to deal with credit cards properly through free or low cost counselling services which recommend specific services, tools, programs to address the exact issue at hand.
They are under bad credit but having bad credit loan is only partially the reason.
Credit cards are very powerful, it's a source of money that anyone can use to get anything they want.
Do the rich and wealthy people like Donald Trump use their own physical cash to get the things they want? No, more often then not, they use credit cards.
Why then are so many people stuck with bad credit card debts then? For a really simple reason - they buy things that are depreciative in value and they don't pay it off immediately when the bill arrives in the mailbox! People who don't pay off their credit card bills quickly end up paying something called idiot tax; which is the most stupid thing that anyone can do with credit cards because it's basically extra interest that should have never existed! The ultimatum with bad credit debt management is bankruptcy.
A simple way to not land in such a situation is to pay more than the minimum amount required, this helps in more ways than one.
If minimum payments are made for a $1,000 credit card debt, it takes over nine years to have it paid off! Not to mention the amount of idiot tax required for failing to pay the minimum over the repayment period.
Also, different credit cards have different interest rates.
So, pay off the bills or debts which have higher interest rates first before settling the ones with smaller interest.
The sooner higher rate debts are rid of, the more money saved and the faster the rest of the debts can be paid off.
The smartest thing anyone can do to deal with credit card debts isn't to head over to a debt consolidation company, it's to learn how to deal with credit cards properly through free or low cost counselling services which recommend specific services, tools, programs to address the exact issue at hand.