I just received a spam email with the headline "Relax immediately and pay later with a credit card." It shows a picture of a woman, usually in a spa, with a green mask on her face and cucumber slices on her eyes. This is obviously a credit card advertisement and I quickly deleted it. From my point of view, credit cards do not relax; in fact, when I think about getting and using new credit cards, I feel the opposite of relaxation - I feel very nervous.
I'm not an idiot, okay? I usually classify myself as economically cautious. I try not to spend more than my cost, and I earn decent money. However, a few years ago, I gave up my full-time job to implement an Internet license. I thought I had everything to succeed, but it quickly left me. Before I knew it, I had already applied for a $50,000 loan to keep my business going, and I paid my monthly operating expenses through my credit card.
I absolutely made some mistakes, such as putting down a print ad in a national magazine and spending 20,000 dollars. I learned a lot from these experiences and think that the time spent in the "difficult knocks" was good. The problem is that I also spent a lot of money on school tuition. I will pay this sum in the future, and there is no low-interest government loan available for payment.
You may get credit card debt in a similar or very different way. Others have other unexpected financial issues, such as illness, major family support, loss of family or business, and so on. These stories are not pleasing, and they put the family in a position where they think their choice is limited. As a whole, they are dark and hopeless. I know that I also feel it myself.
Credit cards are not what you want. It started so innocently... I collected the cards in the mail. The start times are good and I don't need to activate them. Because I have a good reputation, so I got a discounted price. I have a United Airlines visa that allows me to fly to frequent flights. I don't mind the higher interest rates, because I get profits from my business every month, repaying the full balance of about $3,000 a month. Once I had to start using profits to pay for my living expenses, this spiral decline began.
I don't know how credit card companies can raise my interest rates quickly or brutally. Even though I keep paying (most of the time) every month and even pay extra fees, I began to receive notices that the rates on many of my cards are rising. The excuse for this is like a late payment, using a credit line close to me, and so on. When I make a big deal and have some extra money, I send a lot of changes to the card company. You would think that they might reward me by lowering my interest rates or other things, but that way they would reduce my available balance!
Their reason is that after checking my credit report, I am no longer as "worthy" as before. I am in a situation where I use too much credit and damage my credit. When this happens, I stop transferring new offers to lower interest rate cards, stop receiving notifications about consolidation loans, and borrowing from my family is no longer an option.
In addition, the minimum payment required by the card company has recently increased, which adds up to a world of harm. I have a card with a 30% interest rate. Even if you don't use these cards it seems like a little help. I received a minimum $300 bill and saw that I was charged $295 in interest. This is frustrating and frustrating.
Last year I started tracking each of my card accounts and found that if I didn't at least understand the severity of the problem, I would never be able to control it. I saw my total balance slowly decline until something happened and I returned to something. I have been able to transfer some balances to a single lower interest card, which helps solve the problem. I also finally qualify for a consolidation loan. This helps to pay monthly, but my total balance has increased by about $2,000. After a year of doing so, my total balance has not changed significantly.
I need relief, I need fast. Before writing this article, I hope to wait until the problem is solved, because everyone likes a happy ending. I haven't been there yet, but I feel fortunate that I just recently found a way to improve my credit score. The thing is that, although I tried to separate business and personal expenses, some of the cards I got earlier were based on my personal credit.
"dings" now appears as a negative in my personal credit report. I believe that if I can improve my credit rating, I can qualify for financial products and services, which will help me get rid of this loophole. I don't expect a relaxing journey. I have done everything I can to stop the bleeding and now I need to recover. I hope to get a better credit score to help me do this, and let me and my family recover the correct financial situation.
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Orignal From: "Relax immediately, pay later with a credit card," and soon you need to eliminate credit card debt
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