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Financial Information

You think that I have learned my lesson about charge cards. Its so very easy to use them.Just pull it out of your wallet slide it in the machine and your done. Until your monthly bill comes. At first their monthly minimal payment doesn't look like much but what you have to understand is and I didn't at first by paying the monthly minimal payment, it would take me seven years to pay off a couple of thousand dollars. The interest rate is where they get you. At the time it was 9.99 that was cheap for a charge card. But over the years I had been one day late twice they jack me up to twenty one percent for quite some time.

I didn't even notice. I was so busy with all our life having our new born baby at the time. I was kind of focused on other issues. I was so ecstatic one day. The mail truck had gone by. I was expecting a package for Christmas for my son. In order to get the mail though we had to get dressed for the frigid weather. It was snowing and blowing a Northeaster storm out. When I got to the mailbox I realized the package hadn't come. But in there was offers for new charge cards at 9.9 percent that made me happy at the time. So I started filling out the paper work.

A few weeks went by I received my new cards with convenient checks the main clue about convenient checks is to watch the dates that the interest rate expires in the future. That way you know what to expect a year to down the road. I paid the high interest card off and closed that account. You see though years later, debt consolidation loans are the way to go. It was extremely easier to have one payment rather than all the charge card bills and the interest was so much less. I think everyone out there has probably learn this lesson.

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1 Response to "Financial Information"

  1. Joops says:
    October 26, 2009 at 12:55 AM

    Yup if you get late with one payment, credit card companies will ruined your credit hestory too!

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