These special offers are everywhere, department stores offer special discounts to those who open a new card. For example giving you 20% off your first purchase if you open a credit card with them.
Credit cards offer low balance transfers if you sign up for their credit card today. Credit card companies even give out prizes to people who enroll for their cards (T- Shirts, hats, towels, key chains, etc)
It can be very hard to not give into temptation and sign up for as many credit cards as possible. Credit cards can give you a feeling of power cause you can purchase whatever you want with this little piece of plastic. But while credit cards can be a very useful tool, if used improperly they can lead to credit card debt that will take years to get rid of.
Let's say, for example, that you have $8,000 worth of credit card debt on one credit card, which is the average American credit card debt.If you pay the minimum payment every month at an 18%APR (the average interest rate), it will take you approximately 53 years to pay your debt and you will pay $22,931.52 in interests!That's $22,931.52 that you are throwing away because of credit card debt.
A safe and more cost efficient way of getting rid of credit card debt is by using a debt consolidation program like ours. Our debt consolidation program will help you get rid of credit card debt without paying a great amount of dollars in interest and in a shorter period of time.
We will also consolidate all your credit card debts into one low monthly payment, so that you don't have to worry about writing many different checks to your many different creditors.
If you fell into the credit card offer trap we are here to assist you in getting out. Credit Counseling we can help