Credit Card Company Tricks That Can Really Screw You

Would you like to find out what those-in-the-know have to say about credit card company? The information in the article below comes straight from well-informed experts with special knowledge about credit card company.

Even with the economy in a shambles and many people struggling to relieve their debt, the credit card companies are still doing a land office business. Make no doubt about it, if they can come up with ways to put more money in their pockets they're going to do it, no matter what repercussions it can have on you and your bank account. That's why they pay their executives some mighty big bucks to come up with some very tempting offers.

You may have gotten some of these tempting credit card offers in person, in the mail or online. If you're struggling with debt right now and perhaps looking for some debt relief these offers can end up causing you a lot more harm than good.

Let's take a look at some of the popular ones that can really screw you.

Department Store Credit Cards - Get a Store Credit Card And Save 10% on Everything You Buy Today

It sounds really good. Why not save 10% on your purchases? Well, if you want to ding your credit score it might not be such a bad idea, because every time you apply for a new credit card that's exactly what happens. And, oh yeah, if your credit rating is hit hard it can cause the interest rates on all your other credit cards to go up. May not sound so good after all. And it certainly won't help you to get out of debt.

Get a Wide Screen TV for $37 Per Month

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Those shiny new toys sure look great. You've wanted that TV or computer or whatever for awhile now and it's only $37 per month. "Not bad - only thirty seven bucks a month", you think, "I can do that".

But what if something happens and you're late with your payments? You could end up paying a big fee and see your credit rating drop. And, if you're only making the minimum payments it's going to cost you a heck of a lot more than if you paid for it in cash.

Get This Credit Card Interest-Free For Six Months

Imagine - you can buy something today and not have to pay any interest on it for six months. But what are the rates going to be half a year down the line? And what will what you buy today be worth to you then? Could be you'll be paying high interest rates for years for something you won't even be using.

Balance Transfers With Low Interest For Six Months

This one can look really good, especially if you're deep in debt and paying a lot in interest. The offer says all you have to do is just transfer your balances from other credit cards and you won't have to pay any interest for six months.

If you can actually pay off the balance within six months and not run up the credit cards you transferred the balance from it could work. You know yourself and whether or not you're capable of doing this. Because six months down the line the interest rates can skyrocket and you may have maxed out your cards once again.

If you're old enough to get a credit card you're old enough to make your own decisions and you know what is right for you. Just remember that the credit card companies are not your friends. They're in business to help themselves. And, if you're looking for debt relief it might just be a good idea to pay as much as you can each month until you wipe your slate clean. The best debt relief might be not accruing any new debt while you pay off what you owe. Maybe it's not so much fun now but think about how good it will feel when you're done.

That's how things stand right now. Keep in mind that any subject can change over time, so be sure you keep up with the latest news.