Why It’s Hard To Get Out Of Credit Card Debt

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The power of compound interest. This is why it’s so hard to get out of credit card debt. If you want free help, take the Free Debt Exam at http://www.FreeDebtExam.com

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25 Comments on Why It’s Hard To Get Out Of Credit Card Debt

  1. Takeittogo1
    September, 29th 2009 at 8:49 pm

    That is why there …
    That is why there should be a cap in intrest rates! 3% over prime fixed to the date you bought the item. When was the last time you got 3% on a saving account?

  2. oaktownstomp
    September, 29th 2009 at 8:49 pm

    And because of that …
    And because of that thinking is why banks needed a bail out good job!

  3. DWHold1
    September, 29th 2009 at 8:49 pm

    Creditors harassing …
    Creditors harassing you?
    In fear of bankruptcy?
    ALPHA DEBT SETTLEMENT will get you the help you need.
    Fast debt relief and have your life back in control in no time!
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  4. DWHold1
    September, 29th 2009 at 8:49 pm

    Creditors harassing …
    Creditors harassing you?
    In fear of bankruptcy?
    ALPHA DEBT SETTLEMENT will get you the help you need.
    Fast debt relief and have your life back in control in no time!
    Visit ALPHA SETTLE Today!!!

  5. MopDMTBARTL
    September, 29th 2009 at 8:49 pm

    The …
    The Vatican-Pope-Jesuits-illuminati run the world. they have all the judges, attorneys, doctors, major corporations, etc. all in their back pocket. bought & paid for, etc. our country is no longer free -we live in tyranny! truth an obscure thing, Oppression & lie is the norm. Were all slaves- our masters, the elite, r at least 50 years ahead of us in knowledge, technology, info., secrets & r using all of it against us!

    Go here:
    truthknowledge. com

    Spread it! Time is running out!

  6. mortech100
    September, 29th 2009 at 8:49 pm

    o and fyi if your …
    o and fyi if your takeing $30,000.00 cash out on your Credit card u need more help than this guy can give lol

  7. mortech100
    September, 29th 2009 at 8:49 pm

    there is one that …
    there is one that that is true here combound intrest is charged but ONLY on cash with draws and foren exchange fees. thats all the rest of the intrest from your normal shoping is not this way its based on your totaly amount spent per billing cycle. witch means u only get one 29% charge on 30k vs getting 29% intrest charged to that 30k per day (compound intrest) just a quick fix but a nice point just the same gj for the most part

  8. jcost2008
    September, 29th 2009 at 8:49 pm

    fuck them dont pay …
    them dont pay shit.

  9. RILODICKSTEIN
    September, 29th 2009 at 8:49 pm

    check this out…if …
    check this out…if you have mandated direct deposit by your job…1.go to tax collecting store (bank) take all the money out as soon as you get paid (every red cent). 2. put it in your pocket. 3. done 4. F a bank!…..land of the free? yeah, as long as you pay for it right.

  10. intj123
    September, 29th 2009 at 8:49 pm

    I actually am debt …
    I actually am debt free and have never owned a credit card…. by choice. Everyone thinks it’s a bad thing to not have credit.

  11. Demonyk1
    September, 29th 2009 at 8:49 pm

    Another thing that …
    Another thing that CC companies don’t want you to know is, your regular payment goes to your lowest interest rate firt. What I mean by this. Lets say you pay 18.69% on regular purchaces and you take out a cash advance at 33%. When you send in your payment, it’s automatically applied to the 18.69%. If you want to pay off the higher interest first you have to call up to get their “Special Payment” department address which is usually not at the same site as where you regularly send your payment

  12. fedtheend
    September, 29th 2009 at 8:49 pm

    now I am taking out …
    now I am taking out a secured card to rebuild my credit rating so I can get a decent job.

  13. fedtheend
    September, 29th 2009 at 8:49 pm

    for awhile we took …
    for awhile we took in the third roomie. but I don’t think you can do it on your own. maybe you can. I couldn’t.

  14. fedtheend
    September, 29th 2009 at 8:49 pm

    I stopped paying my …
    I stopped paying my cards but then I had to find a roomate with good credit to get into a decent apt. then I saved money, he got off his cards, and now were both in a cash position so we can offer a cash advance to get into a decent apt.

  15. kinkadekrew4
    September, 29th 2009 at 8:49 pm

    me 2 i typed in …
    me 2 i typed in calculater hacks and this poped up lol

  16. Rammshtyn
    September, 29th 2009 at 8:49 pm

    CASH RULES!
    CASH RULES!

  17. Getoverhere21
    September, 29th 2009 at 8:49 pm

    I wrote some random …
    I wrote some random crap and this video came up lol

  18. homer30
    September, 29th 2009 at 8:49 pm

    Honestly the rule …
    Honestly the rule is very EASY and everybody knows it: Don’t spend more than you can afford. The very DIFFICULT part is self control. It is how you approach the rule that is difficult with all our desires and addictions and temptations, all these things make personal finance difficult.

  19. Rayven10
    September, 29th 2009 at 8:49 pm

    Easy way to not get …
    Easy way to not get in debt: don’t spend more than you can afford. There.

    And my credit card has a 9.99% rate, which is pointless to me because I pay it off each month. This is also why I’m not swimming in debt.

  20. cwpraisinjc
    September, 29th 2009 at 8:49 pm

    What world do you …
    What world do you live in these days?
    WHO doesn’t have a credit card with at least 19% interest? Too little, too late.

  21. Anothercoilgun
    September, 29th 2009 at 8:49 pm

    All for money never …
    All for money never actually given to you and money simply create by magic. Companies borrow $1 and lend out $100 dollars. If you have balance of $10 they act as if you did them harm when in fact you made them $89 profit – interest on only $1 the company owes. What a joke.

  22. Anothercoilgun
    September, 29th 2009 at 8:49 pm

    What! Cards start …
    What! Cards start at 12%. You need to wake up.

  23. worthywads
    September, 29th 2009 at 8:49 pm

    don’t forget the …
    don’t forget the validation code on the back.

  24. worthywads
    September, 29th 2009 at 8:49 pm

    Your example is a …
    Your example is a little melodramatic. I don’t know anyone who pays more than 12% or who has more than $5k in debt. Who is the idiot who is paying 18% on $30k? Someone get them to a credit union!

  25. ytrandyh
    September, 29th 2009 at 8:49 pm

    Outrun credit card …
    Outrun credit card interest with your OWN compounded interest that goes in YOUR pocket!

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