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Time To Get Good And Angry About That Credit Card Debt

Author : Bryan Simpson

There's something strange about what occurs to all of us psychologically when we see our credit debt just maintain climbing and climbing with no end in sight. For some reason, our emotional reaction is usually one of ambivalence or even acceptance as though having a mountain of debt to credit card companies is really a part of life and no massive deal.

But it really is a huge deal. When a massive portion of your monthly budget goes to servicing debt, it's a big deal due to the fact that cash might be going toward a greater house, a new car or even just for some thing fun for you or your family.

Whatever it may acquire is really a lot greater than it just being thrown away as interest on a ridiculously high credit mountain.

So as significantly as we all do strive for peace and keeping a positive attitude about life, in order to get some motivation to get out there and defeat this monster we call credit card debt, it may be time to get good and angry about the way credit cards deal with our accounts and uncover the guts to finally locate a method to just up and fire them.

In the retail world, it is a crime to use false advertising or pull off hat is referred to as "bait and switch". Bait and switch is a tactic where they advertise a price for a retail item and then whenever you get to the store, the price is wrong on the shelf or for some other reason (like, we ran out of the ones at the sale price), they bilk you into paying the non-sale price.

That's cheating and it's wrong.

Credit organizations are the international grand champions of bait and switch. When they send you those glossy, well worded invitations to low interest, "no cost" credit cards, they have no intention of honoring that provide. Oh positive, they may set up the accounts that way. But in the event you read the fine print of what you might be signing when you apply for the card, they retain the correct to change the rules of how your credit bill is handled with out notice and without restrictions.

That means that even if they said there will be no annual fee, they can impose one and there is not a darn thing you'll be able to do about it.

Even far more outrageous is the reality that creditorganizations can and typically do raise the cost of what you might be paying for the goods or services you bought utilizing your credit card, once more with out any notice at all. So in the event you bought a refrigerator on your credit card which at the time was charging 8% interest, the credit card company can up and raise your interest level to 20% overnight, with no reason for doing so and with no notice to you. So what just happened is they jacked up the price of the refrigerator you bought and you might have to pay it. If that doesn't get you good and mad, well, it should.

In case you watch how the credit organizations handle your accounts, it is possible to tell they are seeking any excuse to raise your rates. If your payment comes in an hour late, they can double your rates. And guess what? They're the ones who decide if your payment came in late. So in case you mail it a week and a half a head of time, they can still claim it as late and jack up your interest rate and impose a enormous penalty for late payment.

It's just incredible and entirely outrageous that credit card companies are able to change the rules of how you do business with them with no respect for you as a customer and with no intervention by any federal agency.

In reality, the concept that the federal government is within the pockets of the credit card companies is reinforced over and over once more.

Obtaining great and mad about credit card debt can mobilize you to do some things that are long overdue. It could be overdue for you to contact your congressman and begin putting them on notice that we aren't going to take this anymore. But it really is undoubtedly overdue for you to see the credit card companies for what they're and fire them by obtaining rid of that credit debt once and for all.

Author's Resource Box

Bryan Simpson is really a respected author and speaker on numerous consumer and environmental problems, and now runs a productive media publishing agency. Bryans passion is researching topics and writing articles on a broad range of subjects such as Credit Card Debt and other issues associated with Credit Card Problems

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Tags:   credit card debt, credit card problems, get rid of credit card debt

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Submitted : 2011-01-16    Word Count : 550    Times Viewed: 173