Credit Cards: Be Carefull When You Have Use Them !!!

I briefly reads the new about Barak Obama, US President, sign laws to regulate the credit cards companies.

Read This: http://news.yahoo.com/s/ap/us_obama_credit_cards

I believe our Government should look into the same matter soon.

In my experience as a credit card user, I think these credit card companies are nothing more then those "along" ie money lender who impose so many rules that benefited more to them then the consumers.

They will reap you off every month. Just imagine if the have 10 million cards issued and they levy a fee of 1 ringgit per card per month, they will make 10 million every month.

These are some of those things that they will reap you off:

1) The said that their fee is say 16% a year but if you are late in payment they will change another 1% of the balance that you miss to pay every month of being delayed. In this was the 16% they said will jump to may be 20% a year. The more times you forgot or missed to pay the more the yearly sum that you need to pay.

2) If you are a bad paymaster, the 16% per year will no longer be 16%. They black mark you and they will increase their interest to something like 18%. This is because you do not read the fine prints.

3) I was surprised this morning when my wife indicated that without telling the credit card companies now are charging 100 ringgit per month for those gadget used by her clinic. Before this you need to pay 100 ringgit per year.

4) She also indicated that beside the 3% fee which the credit companies charge her they also charge a ringgit more for each transaction.

See how cruel they are to the innocent consumers and the outlets.

My advise to all of you is to come out with a plan to eliminate those cards from your wallet. You can remove them by not using them any longer and try to use debit card.

Do not be tempted to those special offers advertised on the news. They are all just a trap for you to be their slaves.

What I did was to review all those cards that I was using, I got three cards at that time, and eliminate one by one.

I got hold of the monthly bills and started my special program on eliminating them. I focus in removing the easiest one first and then zoomed to the second easiest and finally eliminate the last.

The best I did was to get a scissor and cut all the 3 credit cards from your wallet. I feel so good and more determined to get rid of all the 3 cards.

I opened and now use my new debit card, which is within my control.

Nowadays I do not have to worry about the credit cards charges to be paid every month.

If you wish to learn more on the technique I used, DIY credit cards eliminator, just write to me at harryswiftlet@yahoo.com