Rewards and cash back that do not come close to covering the finance charge and the best one is using cash and you stop the flow of progress and are looked on as an idiot.

Credit card ads should be outlawed the same as cigarettes and hard liquor. Let's put that on the agenda for a debt free America.[READ MORE] [COMMENT]]]> Tue, 02 Mar 2010 17:20:50 -0500 http://quikonnex.com/channel/link.php?id=35059 http://quikonnex.com/channel/link.php?id=35052 Secured (home mortgage) and Unsecured debt (credit cards) after they had received and reviewed the services/solutions that I offer. We had a lengthy conversation. More or less this person said that ultimately, facing an impossible financial situation they just might walk away from this mountain of debt. Yes, we see the decision to walk away from debt being taken by many American families. As much as they understand (right or wrong) that they have made a moral obligation to pay their debts, it is their choice to do the immoral thing and walk away. But the point of this writing is a question... What are the COSTS of Walking Away from unbearable Financial and Moral DEBT?

[READ MORE] [COMMENT]]]> Mon, 01 Mar 2010 19:04:08 -0500 http://quikonnex.com/channel/link.php?id=35052 http://quikonnex.com/channel/link.php?id=34895 Credit Card Act, give your unsecured debt is getting a face lift. What does the New Credit Card Bill mean to you.

This article does a wonderful job informing us about the Credit Card Act changes coming our way in February. Recently I posted an article titled
“Listen how the Double Speak Media Deals with DEBT!” which were my comments about an CNBC video “80% of the $1.5 Trillion Debts Were Bought by The Federal Reserve!”

So bottom line…if the FED is a Ponzi scheme so are the Banks, so are the credit card companies. Maydoff went to jail for his 50 billion dollar Ponzi scheme so real change would mean use the Rule of Law and sent the Bankers, Wall Street Crooks and Bought Politicians TO Jail!
[READ MORE] [COMMENT]]]> Wed, 13 Jan 2010 16:08:28 -0500 http://quikonnex.com/channel/link.php?id=34895 http://quikonnex.com/channel/link.php?id=34883 Listen how the Double Speak Media Deals with DEBT!

This video above is the line that the main media is telling the American public. A lot can be learned by listening and reading between the lines. These "experts" are seeing opportunities to make money while Rome Burns..see if you agree.
[READ MORE] [COMMENT]]]> Mon, 11 Jan 2010 17:33:45 -0500 http://quikonnex.com/channel/link.php?id=34883 http://quikonnex.com/channel/link.php?id=34867 Fair Debt Collections Practices Act and the Fair Credit Reporting Act. Collections representatives often behave in unscrupulous ways and knowing your rights is your key to fighting back.
[READ MORE] [COMMENT]]]> Wed, 06 Jan 2010 20:05:06 -0500 http://quikonnex.com/channel/link.php?id=34867 http://quikonnex.com/channel/link.php?id=34722 Credit has been with us since time immemorial. In the old days, stores would keep open accounts, or “tabs”, for their customers. The customers would take the merchandise they needed, the store owner would mark their purchases in a ledger, and the tab would be paid at a later date. .

• Western Union issued purchase cards to its best customers as early as 1914.

• With the advent of the automobile in the early 1900’s gas cards were issued by gas stations for fuel purchases and soon were accepted between competitors as payment. Thus the second innovation began… networking!

• Store credit cards were the next to make the scene. They increased the consumer base for retailers and gave the customer the convenience of “buy now and pay later.”

• Revolving credit came onto the scene in the 1930’s and 40’s. This practice actual started a series of changes. Up to that time customers were required to make payment of debt within a certain period of time. This practice changed by doing away with the repayment limits. The customer had to repay a certain amount of debt each month – the minimum monthly payment. Credit card Companies made revenue from fees and interest.

• In the 1950’s, the cards we know today: Visa, American Express, Diner’s Club, and others came into being. These major companies soared in popularity in the 1970’s and 80’s.

• In the early eighties, inflation began to outstrip interest rates, making credit cards a losing proposition for the banks that issued them. At the time, interest rates were limited by anti-usury laws. When South Dakota, discarded its anti-usury law, it opened the way to unlimited interest rates. The banks soon moved offices to South Dakota and Delaware which had also changes its usury laws. This made it possible for the Credit Card Industry using an “obscure” Supreme Court decision to export higher rates across the country.

• The current credit card practices can be traced to one man, Andrew Kahr. Before him, credit cards required customers to pay 5% of their balance every month. Kahr convinced banks to lower minimum payments while raising credit lines, which caused profits to soar. “High balances are more profitable than small balances,” says Kahr. The result as expected is that people charged more and strung it out over longer periods of time. The consumer suffered escalating penalties and fees which caused costumers to complain to no avail.