Originally posted 2012-04-14 22:17:03. Republished by Blog Post Promoter

In the face of surging bankruptcies, challenging times, and increasing credit card fraud you’d think the credit card industry could be on the ropes. But that’s far from the truth. The truth is, this past year the industry posted near record profits. How did they do that? Easy – by stealing you blind!

They run high-priced TV ads in the midst of January tempting you with white sandy beaches and warm tropical sunshine. Or they show a couple happily sipping champagne on the deck of their cruiseship stateroom in the sunny Caribbean. It looks mighty good every time a bitter winter storm is howling outside your window!

Their purpose is very simple: get you into debt and after that help you stay there for as long as possible while they bleed you dry with a toxic blend of high interest rates together with other hidden charges. The things they do should really be criminal since it clearly preys on the human weakness of desire. We’d like things for ourselves as well as for our family members. It’s only normal. They provide what we want and after that over time they charge us three to six times the initial price. But don’t expect the government to provide protection anytime soon. The charge card industry has considerably more influence over our law makers than we ever will. They make huge campaign donations so the government happily provides them with a license to steal and throws us to the wolves. Consequently the madness continues.

Where will all of it end? Personal bankruptcies will top 1.4 million this current year. Total credit card debt is currently more than two trillion dollars and headed towards the moon. Eventually this concern must be dealt with on a national level fo the time being – you’re completely on your own.

Fundamentally if you have a ton of credit cards and unsecured loans and if you’ve been late with a payment or two you can expect that a majority of issuers will notify the big three credit bureaus and you will end up getting one or two negative marks against your credit score. Though those marks will stay for around seven years, the good thing is that you can begin to rebuild your credit immediately. Just be sure to make all your minimum payments right on time.

Crizza Reyes
Crizza writes for many women’s blog sites and periodicals about issues concerning women. For more information about credit cards and unsecured loans please see more at our web site or on Amazon.

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