Are credit cards holding you economic freedom?
The credit firms are honestly struggling right now and because of this are passing their rough times on to the common debtor. They are cutting credit lines, jacking up APR’s, and holding back on issuing credit all together. This is constructing a huge problem for all of us who have credit cards and utilize them all the time. I feel as if my credit cards are getting heavier and heavier every time I go to use them because of the infinite rising interest rate. Even if I had the desire to do a balance transfer, I cannot because the remaining banks with reduced rates are not issuing them presently. So I’m trapped using the cards I’m already used to relying on, at a increased APR. It’s getting to the condition that I may have to let the debts fall behind and retain a debt relief company to negotiate the debt. I was good paying off the cards prior to this economic catastrophe, before the banks were tying my hands together.