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Student Gas Credit Card Comparison By Jeremy Biberdorf For a student, it can be difficult to get a credit card that saves money on gas. The best credit cards require a minimum annual income. The average college student does not have the time for classes Read more...
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Credit Card Fool By Thomas A. Martucci We allow the credit card industry to make fools of us and we do nothing about it. If someone told you that you were being made a fool of, wouldn’t you address the issue? I know I would. Read more...
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Tips For Choosing The Best Business Credit Card By Morgan Hamilton Are you familiar with business credit cards? They are more or less similar to your personal credit cards apart from their function. Businessmen use them to establish their business credit. It is Read more...
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What Is The Diference Between Credit Counselors And Credit Repair Companies? By Nikola Govorko Just as with lots of other things you do in life, using your budget wisely is a skill youll have to learn, just like riding a bike or driving a car. Some of us are better in this then others, Read more...
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An agreement in which a borrower receives something of value in exchange for a promise to repay the lender at a later date.
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Credit Card Fool By Thomas A. Martucci We allow the card industry to make fools of us and we do nothing about it. If someone told you that you were being made a fool of, wouldn’t you address the issue? I know I would.
Credit card companies have revenue of $76.03 billion dollars and the majority of this revenue comes from late penalties and over limit and cash advance fees. $29.2 billion came from late penalties, $15.2 billion from over limit fees and $3.04 billion from cash advance fees. This amount is 62% of the card companies’ revenue and this does not include finance charges. Nice profit!
The above is the reason why card companies can afford to mail over 5 billion card offers per year. This equals to 6 offers per household per month. Maybe the $2 billion in postage alone is a reason why our government does not look into the card industry seriously.
Every bank and retailer wants you to have their card. Having their card enables them to make huge profits. In 2001 both Sears and Circuit City reported that over half of their corporate profits were from finance related revenue. Do you think this could be the reason why retailers always have an employee at the front door of their store offering you
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to sign up for their card and in return you receive a special gift or extra “so called” discount? Most special gifts and extra discounts end up costing you more than the original purchase due to finance charges.
I may not be able to confront these institutions that are trying to make a fool of me, but I can fight back by believing that “Cash is King” and using cash instead of will save me money in the end.
It’s a New Year and personal money management should be on the top of your list for 2006. Thomas Martucci started developing the BUDGETkeeper SYSTEM in 1999. As a business owner for 20+ yrs, he understood the need for a budget in business. At home however, it was never a necessity until a financial firestorm hit and made home budgeting a task that had to be done, like it or not. Thomas labored for several years to perfect a home budgeting system that worked for anyone. Visit our website at www.budgetkeepersystem.com for more information about the BUDGETkeeper SYSTEM.
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