Daniel Major offers the following royalty-free article for you to publish online or in print. Feel free to use this article in your newsletter, website, ezine, blog, or forum. ----------- PUBLICATION GUIDELINES - You have permission to publish this article for free providing the "About the Author" box is included in its entirety. - Do not post/reprint this article in any site or publication that contains hate, violence, porn, warez, or supports illegal activity. - Do not use this article in violation of the US CAN-SPAM Act. If sent by email, this article must be delivered to opt-in subscribers only. - If you publish this article in a format that supports linking, please ensure that all URLs and email addresses are active links. - Please send a copy of the publication, or an email indicating the URL to [email protected] - Article Marketer (www.ArticleMarketer.com) has distributed this article on behalf of the author. Article Marketer does not own this article, please respect the author's copyright and publication guidelines. If you do not agree to these terms, please do not use this article. ----------- Article Title: Essential Must-Know Credit Card Debt Facts Author: Daniel Major Category: Finance, Debt Consolidation, Personal Finance Word Count: 425 Keywords: Credit card debt, debt consolidation, credit card consolidation, credit cards Author's Email Address: [email protected] Article Source: http://www.articlemarketer.com ------------------ ARTICLE START ------------------
Love them or loathe them, the credit card is actually a good thing. We are all searching for a better credit score and a credit card is very often the best way to build good credit, but misuse it and they suddenly become your most hated financial outlay. The credit card debt facts are these: The pros are; 1# Emergency Financial Aid: A credit card can be used, as is the case by many users, as an emergency source of funds. 2# Free Insurance: When used to purchase items many cards offer the security of free purchase insurance. 3# Improved Credit Status: As long as your use is controlled and you don't run into problems your improved credit status will make it easier to gain loans for cars etc. The negatives are; 1# Card Misuse: Using your credit card as an extension of your paycheck and maxing it out will get you way in over your head very quickly. 2# Missing payments: Missing Payments will have an adverse affect on your credit for SEVEN years and becomes affective almost as soon as you miss your first payment. When deciding to get a credit card the two important factors to give consideration to are the Interest charged by the card supplier and the balance payable at the end of each period. Different Credit card companies offer different interest rates, but an acceptable Fixed interest rate is between 8 and 11 percent. You can then compare the various special offers that each supplier in that bracket is offering before making your final choice. With regards to payable balance that comes down to you, how much you can comfortably afford to pay each month, remember this sum should include the added interest rate; for example: If you can only afford to pay $100 each month and your credit card has an interest rate of 10% APR you should only spend around $90 to $95 as there will be a minimum monthly interest charged. However should these credit card debt facts go unheeded it is likely that you will end up looking to consolidate your credit card debt and quite often a debt consolidation loan is the best option to do this, but before looking into a credit card debt consolidation loan there are methods that many are now using to achieve financial freedom in remarkably short periods of time. The methods mentioned are not widely known but are both ethical and legal and are not liked by the financial institutions who DO NOT want you or anyone else using them to reduce and eliminate debt as it would be very damaging to their interest related profits. For information about credit card consolidation and debt consolidation or if you would like to know more about a little known, but extremely effective, method of debt elimination that will clear your debt completely in 3 to 5 years, visit: http://www.creditcardconsolidationloanssite.com ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
