Credit Card Fool

We permit the credit card industry to make fools people and we do nothing about any of it. When someone told you that you were being made a of, wouldnt you address the matter? I know I'd.

Credit card issuers have revenue of $76.03 million dollars and the majority of this revenue arises from late penalties and over limit and cash loan fees. $29.2 billion came from late fines, $15.2 billion from over credit limit fees and $3.04 billion from advance loan fees. This volume is 62% of the creditors income and this does not include financing charges. Great income!

The above mentioned may be the reasons why credit card companies are able to afford to mail more than 5 billion credit card offers annually. This equals to 6 offers per household per month. Probably the $2 million in postage alone is really a reason our government does not check out the bank card industry significantly.

Every shop and bank wants you to have their credit card. Having their bank card allows huge profits to be made by them. In 2001 both Sears and Circuit City reported that over half their corporate profits were from money associated revenue. Do you think this could be the key reason why retailers will have a worker at the front end door of these shop giving you to sign up for their bank card and inturn you be given a special gift or extra so called discount? Most particular presents and extra discounts find yourself costing a lot more than to you the initial purchase because of financing charges.

I might perhaps not manage to address these organizations that are trying to produce a fool of me, but I can fight by believing that Cash is King and using money instead of credit will save you money to me in the finish.

Personal money management and their a Brand New Year should really be on the top of one's record for 2006.. Personal Money Network Offers Cash Advance Regardless Of Credit Score contains further about the meaning behind this activity.