Presented by Daniel Toriola
Credit cards are very useful. Normally there is no requirement of any collateral, and the amount of credit is fixed
on the basis of the perceived creditworthiness of the primary holder, which is usually dependent on the
person’s credit score.
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Debt Consolidation Loans And You
By Tim Renolds
Got credit card debt? You may be paying way too much every month in interest rates and fees
simply because you’re not able to pay it off in time. One of the warning signs is simply not being able to
completely pay off your credit card. Another warning sign is struggling to pay most of it off every few
months. The clearest warning sign is not being able to meet the minimum monthly payment required by
the credit card!
Whatever the case, you can “nip it in the bud” by paying off your credit card all at once.
How? It’s easy and it’s a smart financial decision for most people. In fact, if you have a credit card with
a balance, it’s probably a smart financial decision for you!
Why? Because credit card interest rates are among the highest rates of interest. Credit cards are
essentially short-term loans and the credit card companies have been able to keep raising interest
rates higher and higher and no one has done anything about it.
But you can. Did you know that many people who fail to pay off their credit card can really get stung by
how expensive the interest rate is? It’s true! In fact, a person who pays only the minimum balance on
their credit card each month will pay almost half again as much for their purchases simply in interest!
That’s a lot!
So what can you do about it? Easy! You can get a debt consolidation loan and pull all of your debts
together. Not just credit cards (although those should be your priority) but also other debts, such as
lines of credit, student l