Sign of Improving Times?
130 words eaten alive on May 25, 2010 - Filed Under Finances, Honesty -
It must be a sign of an improving economy. Lately, on a weekly basis, there’s credit card applications showing up in the mail again. Offers for free credit reports. Offers to increase the limit on existing credit cards. But no! I don’t want any more cards, they’re evil! They suck you in with really low interested rates but then after a few months boom, it jumps from 7% to 20%. No thanks! You’re much better off saving for a few months to buy that big item than to put it on a card and pay interest for years afterwards. Sure, the sticker price stays the same, but in the long run a card could cost you double that amount in interest.
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