Credit Card Offers Increase While Mortgage Offers Decrease, Banks Need To Make Money Too!
As the mortgage crisis continues and more homes are falling into foreclosure, banks are looking at alternate ways to make money. Since the interest rates for home loans are so low and they are getting scrutinized under a microscope, banks are now turning to credit cards as a source of making big income.
As more Americans are financially squeezed and turn to their credit cards to pay their bills, the credit card companies are sending out more offers to do balance transfers with a minimum 3% fee and if you miss one payment then your interest rate could be as high as 30%!
Banks have masters too and they need to make money. Since they can no longer ride the mortgage gravy train, they are riding the credit card high interest speed bullet train. Once in credit card debt, consumers can't get out with interest rates over 20% and beyond. Watch your spending. Pay off those high credit card debts and be smart with your money. Banks need to make money too and they're going to get it somehow so don't let it be you.
As more Americans are financially squeezed and turn to their credit cards to pay their bills, the credit card companies are sending out more offers to do balance transfers with a minimum 3% fee and if you miss one payment then your interest rate could be as high as 30%!
Banks have masters too and they need to make money. Since they can no longer ride the mortgage gravy train, they are riding the credit card high interest speed bullet train. Once in credit card debt, consumers can't get out with interest rates over 20% and beyond. Watch your spending. Pay off those high credit card debts and be smart with your money. Banks need to make money too and they're going to get it somehow so don't let it be you.
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