Bad credit credit cards spring dangerous traps on “sleeping” card users. Today, it’s not just the so-called bad credit card issuers and their tricks…it’s all the other credit cards too. Discover how the banks are stealing your money and dropping your credit scores.
Can’t live with them; can’t live without them.
CREDIT CARDS, that is.
Beware the banks offering you a credit card, regardless of your credit. What you may or may not know is that banks can change the terms ANYTIME on your credit cards.
And you can be guaranteed those dangerous changes will occur when you least can afford their changes, resulting in penalties, late fees & worse:
- Universal Default occurs when you miss a payment on one card, springing a trap for ALL cards you have to shoot the interest rate up to 30-35%
- Late Fees produce TONS of profit for banks. They love it when you don’t pay your monthly bill on time. This also helps them invoke “universal default, legally allowing them to explode the interest rate on all your cards.
- Overlimit Penalties. Today, banks are cutting your credit limit, regardless of your credit or card use. Cutting your credit limit, banks are causing your credit scores to drop (e.g. high credit utilization) and less credit.
The following video shows perfectly how these dangerous tricks and traps destroy real people’s lives. Meet one young Florida couple with children who have gotten caught in this deadly web.
This video is 8 minutes, 24 seconds, with the best part beginning at 5 minutes, 20 seconds. Once you’ve checked out the video, please scroll down to leave a comment.
- What are your experiences with credit cards?
- What tricks and traps have you faced with a credit card?
Bad credit credit cards or good credit credit cards force us to pay attention to the tricks and traps these banks will--and I do mean WILL--spring on us. Some people like the young couple in the video have unintentionally gotten caught up in this deadly financial storm.
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