Are credit cards holding you financial freedom?
The lending companies are seriously suffering right now and as a result are passing down their headaches on to the common American. They are cutting credit limits, increasing APR’s, and backing off on issuing credit all together. This is making a huge issue for everyone of us who hold credit cards and charge on them on a daily basis. I feel as if my credit cards are getting heavier and heavier every time I go to charge them because of the infinite rising APR. Even if I wanted to do a balance transfer, I cannot because the other banks offering reduced rates are not issuing them currently. So I’m wedged charging the cards I’m already used to depending on, at an elevated interest rate. It is getting to the point that I may need to let the debts go and retain a debt relief company to make a deal on the bills. I was good paying off the cards before this economic meltdown, before the banks were putting a financial noose around my neck.