7 Secrets Of Credit Cards That Mess Up Your Life Real Bad
High Interest Rates:
The big weigh-down on the credit card user is the payment of high interest rates on the credited amount. Yes! Interest rates will make you pay more for the product that you have purchased. Back of the envelope calculations proves that it is not lucrative to purchase any product which is at discount price by swiping the credit card. Since you lose the saved amount by paying it in the form of interest.
High Penalty:
Penalties may hurt your wallet if you are reluctant in paying monthly payments and interests, before the due date. Calculation of the penalty imposed is based on the overall debt value, monthly payment and interest rate. Hence if the penalty is imposed, the debtor has to bare an additional debt value in his paying cycle.
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