How Lenders Operate And How Theyll Make a Tidy Fortune from the Unknowing
Credit card companies might seem like immensely clever, money making enterprises that exploit every loophole to maximize the interest payments and profits they are taking from you every month. Nothing, however, could be further from the truth. These financial institutions operate on simple principles and exploit the fact that consumer demand and their customers naivety will keep business turning endlessly over.
It doesnt have to be that way, however. Know what to look out for and you can cut your overheads and stop these businesses from making a dime more than they have to.
Lenders exploit the fact that people use one card for many purchases. For example, if you use a balance transfer special card rate for spending in the supermarket or mall, they deliberately structure repayments in such a way that youll pay a fortune on the entire balance. To properly play your plastic you need to deploy an army of cards as weapons in the war against consumer debt. Using the right tool for the right job will smash your credit card costs.
If you already have hefty credit card bills,...
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