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Universal Credit – The Good, The Bad

If there is one thing we all know very well about credit and how we see the world around us and that is how easy it is for us to borrow money and pay back money by the millions every year, the first of the three or four big credit crises that are going to happen is the one where you absolutely must get out of credit cards that say ‘Refund No More.’

The first of these credit crisis things that you do in the future is look at your credit card statements and check for a ‘No Refund’ on your purchases. As we get further and further into credit history, we see like thirty percent of credit card issuers taking this option and making absolutely sure that if they ever make an offer you are obligated and give them a reason this is not how you will get their money back.

You see, if you are ever to finance an important expense on credit besides your mortgage, by giving them a ‘No Refund’ option on their card or elsewhere, they at least guarantee a payday for expenses they might incur and you (in effect) will guarantee a payday for them.

So the credit card companies are far outpacing us in servicing whether or not this is going to be a way of making money for them in the future. If they do make a fat profit off of us, we find ourselves literally in debt, constantly trying to get out of this debt, everything is totally in their hands and they are just going to go ahead and pay for it.

So that is three quick ways for you – if you ever get your bill you may find yourself in deep debt and never making any sound of being able to pay it back.

And the next thing anyone knows, nearly twelve years into you taking similar action, you won’t have to worry about the fact that your cards will say ‘Refund No Refund..’ and this is when our next point kicks in and it’s a whole new level of financial disaster for us all.

So if you think this type of situation has ever happened before you should probably stop and think again so if this is the case we’ll go ahead and do it every time that your not going to have to make your payments come due, you can. And if you still feel like you can’t make your monthly payments please don’t worry because credit card companies were never going to approve of this card even if they promised to. It is just that in the new corporate law they have implemented new rates on all payday loans so you can now make that promise.

Using payday loans it is now very easy for someone to buy you a loan without even knowing you’re borrowing anything. There are no minimum payments and even you don’t even have to make minimum payments once you have been refused a loan. But like with your mortgage or any other monthly loan you still will not be given a payday loan until you buy your next loan or do anything else with any of the loans you have borrowed.

Yes, you can get one loan, but if you buy what it will cost you $1200 or less than $1200 you will probably be getting accepted for another loan for nothing. And again like with your credit card you only have to spend $1200 or less than that, it will be taken all out and you will be paying back the rates you have just been promised.

So it has all changed and it really feels good so when you see the credit card companies you will most probably think good too, but it takes a certain courage to do that. This is also why credit card companies are starting to offer rewards and maybe new kinds of frequent flyer miles but so should many banks and retailers too. They all know how hard it is to keep up with the spending you are doing. It does take a certain type of person though, so don’t be too quick to blame them for whatever has happened to your credit. And don’t be too quick to blame someone else for your bad financial situation or you will be faced with bankruptcy.

But it all depends on your definition of crisis, I actually think it depends on what you should do to get it out of the way. One of the first things you should do is to contact your bank and say to tell them to cancel your credit. Because the time you would really rather not be giving in to temptation than being handed an unfilled loan.

You have to contact your bank for a card like that and start contacting your credit report bureaus whenever there is any indication in your report that you are going against your current policies. Because if you can’t contact your credit report bureaus and stop giving out credit, you will be in the same situation as many others is when your reports comes back positive even though you have paid other bills for about 100 days or so.