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Posts Tagged ‘credit cards’

Facing surging bankruptcies, challenging times, and increasing credit card fraud you’d think the bank card industry could well be on the ropes. But that’s incorrect. Actually, last year the industry posted near record profits. How did they do that? Easy – by stealing you blind!

They run expensive TV ads in the middle of January tempting you with white sandy beaches and warm tropical sunshine. Or they show a couple happily sipping champagne on the deck of their cruise ship stateroom in the sunny Caribbean. It looks mighty good each time a bitter winter storm is howling outside your window!

Their purpose is simple: get you into debt and then keep you there as long as possible as they bleed you dry with a toxic blend of high interest rates and other hidden charges. The things they do really should be criminal simply because it clearly preys on the human weakness of desire. We want things for ourselves as well as for our family. It’s only natural. They provide what we want and then throughout the years they charge us three to six times the initial price. But don’t expect the administration to provide you with protection anytime soon. The credit card industry has much more influence over our law makers than we ever will. They make huge campaign donations therefore the government happily gives them permission to steal and throws us to the wolves. And so the madness continues.

Where will all of it end? Personal bankruptcies will top 1.4 million this current year. Total unsecured debt is currently well over two trillion dollars and headed for the moon. At some time this issue must be dealt with on a national level fo the time being – you’re completely on your own.

Essentially if you have a ton of credit cards and high debt and if you’ve been late with a payment or two you can anticipate that most issuers will notify the big three credit bureaus and you will probably end up with at least one negative marks against your credit report. Though those marks will remain for around seven years, the best thing is that you can begin to rebuild your credit without delay. Be sure that you make all of your minimum payments right on time.

Crizza Reyes
Crizza is currently writing for many women’s web sites and periodicals about issues regarding women. For more information about credit cards and high debt please see more at our web site or on Amazon.

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