(My response to:) The Credit Card Debt Lie

An interesting post close to my heart. I have a lot of credit card debt I built up over the years I am now paying off. I wish I had read this 20 years ago I shudder to think how much I have paid in interest over the years.

sentenced2debt

It’s safe to say that at some point in time we have once been told don’t get a credit card.I know I have. But in today’s society it seems as though not having a credit card can hold you back from many things like: renting an apartment (you can’t rent without a credit report), renting a car, purchasing a house, signing up for a phone service, getting a job (background checks not only check your criminal record but you credit score as well)… To name a few.

Perhaps, the advice which should have been given is to understand interest rates/APR and how interest rates have the ability to change how much owed when not paid on time. The value of one dollar is precious and mustn’t be used carelessly.

APR(‘Annual Percentage Rate) – APR’ The annual rate that is charged for borrowing (or made by investing), expressed as a…

View original post 126 more words

Advertisements

2 thoughts on “(My response to:) The Credit Card Debt Lie

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s