Credit buying power is a good deal if used wisely. It can help you to avoid issues in emergency situations where you don’t have the money on you at the time. Many places would rather do things this way. It also helps with big purchases.
The credit card is a great too,l but remember it is the allure of all the point rewards and promotional things designed to get you buying buying buying, and the monthly bill will soon come around. You see, the credit card companies are out to make money from the interest you are going to pay after they have convicted you to your card.
If the plan works well for them they will soon have you paying huge interest rates and have your account steadily reaching for the limit. If it goes over, then they make you pay through the teeth in penalties and charges.
Now they have you where they want you. You are providing them a source of income every month. They don’t want to help you out of this. They would lose their income.
If you have ever wished you could take the fight to these companies, you can. Now I’m not talking about bankruptcy. This is a bad idea. A better idea is debt reduction.
Beating these companies is impossible if you file bankruptcy. They will ruin your good name for a long time. Thanks to debt reduction, you can avoid all that and win yourself.
Reduction gives you the wrong concept. The main benefit of this is that you no longer have to deal with insane interest rates. Yes, the capital is reduced, but you save a lot in interest. You can reduce your capital by up to 45% and that is great. Just think of not paying back almost half of what you owe at a lower interest rate.
The way out of money trouble is not an easy road, but it can be done in about 3 years in most cases.