There is very little about the Credit Card Industry that is on the up and up. So I am not surprised to read that the late fees they charge on credit card debt may not be legal.
Credit Card Late Fees May Be Illegal.... The Bullshit Observer
Fifteen years ago, credit cards were largely a means to defer payment of something. A treat. A splurge. Now they are a must have for anyone who wants to shop online or sign up for any internet-based services like Netflix. According to Harper's Index, we have 12.7 credit cards per household now. CNN Money says we have closer to 20 per household. As a society, we are spending $1.01 for every $1.00 we earn. The average household had close to $10,000 in expensive credit card debt in 2004. They kinda own our asses now, don't they?
Click on this link for more info. http://toddanthonydirect.typepad.com/the_bullshit_observer/2007/03/credit_card_lat.html
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You remember this strategy used by Ali in one of his fight? Well this is similar in that you keep taking the punches from the credit card companies but you get to lower the interest rate by taking advantage of balance transfers within the same Company that issued you the card (s) and that holds your credit card debt. While you are on the ropes you get to think about other ways to solving the problem. You may well find out that the information here can give you the knock out punch you need.
Use Balance Transfer Offers from your Current Credit Card Providers
Published March 28th, 2007 in Credit Help and Tips.
If you’re the typical American consumer, you probably have several credit cards and a few thousand dollars or more in revolving debt. Perhaps you’ve used 0% APR credit cards or balance transfer credit cards to alleviate your debt woes, and keep finance charges in check. Click link for more information:
http://www.thetruthaboutcreditcards.com/use-balance-transfer-offers-from-your-current-credit-card-providers/
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