. We enable the credit card business to generate fools of us and we do nothing about it. Wouldnt you address the problem, if someone told you that you were being made a of? I know I would.

Credit card issuers have revenue of $76.03 billion dollars and the vast majority of this revenue comes from late charges and over control and cash advance fees url . $29.2 billion came from penalties, $15.2 billion from over credit limit fees and $3.04 billion from cash advance fees. This volume is 62% of the credit card issuers income and this does not include financing charges. Good gain!

The above mentioned is the reasons why credit card companies are able to mail over 5 million credit card offers per year. This equals to 6 provides per household per month. Probably the $2 billion in postage alone is a reason why our government does not look into the credit card market significantly.

Every retailer and bank wants one to have their credit card <a href=“http://www.davidmakaio.com/same-day-payday-loan/”> Same Day Payday Loan . Having their credit card enables them to create large profits. In 2001 equally Sears and Circuit City reported that over 1 / 2 of their corporate profits were from money associated revenue. Do you think this could be the reason why stores also have an employee at the front end door of the shop giving you to join up because of their credit card and in exchange you receive a special gift or additional so called discount? Extra discounts and many particular gift suggestions find yourself costing a lot more than to you the initial purchase due to financing charges.

I may not be able to address these companies that want to create a fool of me, but I can react by believing that Cash is King and using cash instead of credit will save money to me in the end.

Personal money management and their a Brand New Year ought to be at the top of your record for 2006 this month .