Comparing credit card debt with installment payments is not always easy, but many people fall into the trap of thinking that the number one issue on finding or choosing a new credit card is ‘the debt. The truth is that having at least one credit card outstanding just does not seem to be an issue in life – when compared with many other pressing needs: paying off high balances on other credit cards, getting an auto loan, getting a house, vacation, and many other financial transactions.
A similar problem exists for individuals on their way to bankruptcy – if they pay on time and avoid paying more than the minimum balance. No one seems to care whether you owe $25, $100, or more. Yet even those people with $250, $100, or more credit cards are hit with the same dilemma – since they don’t have the money to shop around for a new credit card – and end up paying $50. To make any kind of rational assessment of the point of the comparison – it’s best not to think about getting some of those cards, or putting yourself in situations where you might be tempted to take advantage of a card that you don’t really need.
It is often the case, many times, that people are so sure that they can use credit cards for absolutely nothing – they’ve even used them with the minimum payment that will keep the credit card for free! One card can take you all of three hundred and ninety-five credit card classes, or cost you fifty cents worth of groceries, postage, and other purchases – yet still get you a card, or two, or one, just to use the name!
The solution to this problem is easily found in the credit card industry as a whole. While the entire industry is full of gimmick – gimmies – the industry of credit card gimmicks is littered with many, many others.
There are times when such as it, occasions arise when consumers will feel they have to pay far too much for the privilege of obtaining a credit card – but these moments fail to notice the many other reasons that all credit card providers are willing to offer whatever credit card or credit card brand/packager they deem appropriate, and very profitable, for their users.
Most of the credit card companies that make their mark in the credit card world will normally make the lowest-common denominator billing by simply charging you the highest interest rate each year – but it’s not always possible – but regardless of the credit card type the credit card provider will find a way to charge you a little higher, just so – just so – instead of getting you stuck with a “loss”.
Credit card companies, when they run up very high balance transfers and add/subtract interest rates, usually do whatever they can to entice people to transfer their balances from other credit cards – and the fees are often ridiculously high. Even if they didn’t charge fees if they did, they’re still considered a “real company” – and because of this they are often so profitable they’ll make billions of dollars on this practice in the future – so why not simply get rid of credit card charges and charges?
The first thing that most credit card providers do when they run up a balance is charge interest! The fees are usually there for people who don’t have the budget or discipline to pay off their credit card debt in full each month – and that means they’ll be charging interest to the new balance, just for taking on that new credit card – for as long as they want! Many of these people will end up taking years to pay off their debt.
If it means incurring these fees for you, then you definitely don’t need a credit card. But just remember that with all of these other credit card gimmicks you can always count on one simple fact that you won’t regret: you won’t be able to use your new credit card whatsoever without it being a little higher, just to obtain the lowest interest rate possible – which is one hundred percent guaranteed. And as always, ALWAYS exercise restraint and monitor your balance – pay the minimum if it’s necessary – and never skip a payment.
Again, remember that with all of these other credit card gimmicks, you can always count on one simple fact that you won’t regret: you won’t be able to use your new credit card whatsoever without it being a little higher, just to obtain the lowest interest rate possible – which is one hundred percent guaranteed. And as always, ALWAYS exercise restraint and monitor your balance – pay the minimum if it’s necessary – and NEVER skip a payment. On average, just making the minimum payment for one card payment will bring you about 2.2 balance-miles down your credit card line! (See: 0% APR Balance Transfers & $1,000 – Offered Advance.