Getting the Right Rate Can Save YOU Thousands

A credit card debt can be like the worst sort of trap. Like a wound that won't heal, a monthly minimum payment - with ceaseless regularity and endless strain on your budget - leaves your account. It's to pay for the Christmas shopping, or the last July 4th party, or your holiday two years ago. You don't know; frankly you care less - you just want to see it gone. But when your next statement arrives, the hole your minimum payment should have burned in your debt is no smaller - the sore remains unclosed.

Is this situation familiar? Is it you?

If it is, you've not heard the worst of it yet. The way that credit card companies exist and thrive is by exploiting your debt burden. They'll lend and lend and lend, until you get to the point that the most you can pay back each month is the minimum payment - usually around 2.5 per cent of the balance. The problem with this is that they hit you with a load of interest, sometimes amounting to 2 per cent of the balance. If only one half of a per cent is being paid back it doesn't take much math to figure out the amount of time it could take you to pay back your debts. To read more on this subject visit: http://www.wealthconflence.com/finance