National Debt Relief Analyzes If Credit Cards Are Friends or Foes
Miami, FL (PRWEB) November 10, 2015 -- National Debt Relief recently shared in an article published October 27, 2015, some insights for consumers to understand if their credit cards are their friends or their mortal enemies. The article, titled “Are Credit Cards Your Friend, Enemy or Frenemy?”, digs into how that small plastic card affects a consumer’s way of life.
The article starts off by highlighting the bad reputation of credit cards and how most people are afraid of them. But regardless of that fear, consumers continue use their cards in their everyday life. It plays a major role in their daily budgeting chore that, regardless how they feel about it, they need to use it.
Most horror stories consumers have about their credit cards revolve around battling seemingly unmanageable level of card debt. This stems from charging too much on their card but not having the ability to meet their payments. There are some who only makes the minimum payments and essentially pay much more for a purchase than they should.
The article shares that missing a payment is the number one culprit why consumers struggle with credit card use. One missed payment gives lenders the right to impose a slew of fees and penalties that increases the amount to be paid. Add the fact that payments that are 90 days late get reported and stay on a consumer’s credit report for seven long years.
On the other hand, consumers who are able to use their credit cards wisely are able to to enjoy the benefits it brings. There are cards that gives a cash back or rebate on purchases made. There are also some cards that lets the holder accrue points which they can use in the future to get exclusive rewards.
To read the full article, click this link: [https://www.nationaldebtrelief.com/are-credit-cards-your-friends-enemies-or-frenemies/
Paul Ritz, National Debt Relief, http://www.nationaldebtrelief.com/, +1 1-888-703-4948, [email protected]
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