Credit Card Debt Management for One and All (cont.)
Contributed by Melanie Vannuys
Many college students have accrued more than $5000 in credit card debt by the time they graduate. Stunning isn't it? Add that to any student loans that will need to be paid back and these kids don't have a fighting chance.
Credit Card Debt Management For The Average American
The average American has more than $8000 in credit card debt. The main reason is because most don't realize that NOT carrying a credit card is not against the law. We are a materialistic society and we're paying for it yearly in millions of dollars in interest and late payment and over limit fees.
Credit card companies aren't doing us any favors by granting us credit, contrary to what many believe. They offer low monthly payments, not out of the goodness of their hearts, but because they know the longer it takes us to pay off of our debt, the more money they make. Creditors aren't giving you anything, they are simply taking your hard-earned money - money that is better in your pocket than theirs.
