ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

The Realm of Credit Cards

Updated on June 9, 2014

The Credit Card Trap

Source


Imagine yourself, if you will, caught in a trap where the way out is blocked by incredibly high interest rates and unbelievable payment options. Options which you cannot refuse or ignore. This is the type of trap that millions of people are lured into and ensnared. People like you and me. The offer arrives in the mail or on your computer where it will give you a sum of cash at a ridiculously low percentage rate or perhaps a zero rate, for a period of time.

The deception is hidden and makes it almost impossible to turn down. This is the trap that will ensnare you and cause havoc with your finances when the lower rate disappears and transform itself into an unbelievable number like 29.9% or even 39.9%. Its no secret that years ago the company would have been jailed for loan sharking.

How I Fell Into The Trap

While out shopping one day I decided to go to a major discount food store and purchase some things like milk, bread and the stuff that would go into your pantry. When I got to the cashier after handing her my membership card, I attempted to charge my purchase. It was a busy day and there were people standing behind me. After waiting a couple of minutes the cashier informed me that the purchase was declined. I couldn't believe this. I stared at her in awe while I did the math in my brain. The purchased items came to 173.49 and my balance was 3,000.00.

There had to be some kind of mistake.

After being chagrined and humiliated I left the line without my groceries, still bagged and carted. I could feel the eyes of other shoppers staring at me. I was determined to find out what happened. Arriving at my car I hopped on my cell phone and immediately dialed the credit card company. After waiting and being transferred for what seemed like hours, a voice finally got back to me. I was informed that my charge privilege had been suspended due to an overdue payment that I missed about a month ago. Of course my payments with these people were on time, but never mind that. This was about a payment I missed on another unrelated card that had fell into the obscurity of a forgetful memory. This is what brought my balance to the amount where the purchase I was about to make would have made my account negative.

The 3,000.00 balance was now at 500.00 and since I had already spent 398.00 the credit card company denied the purchase of 173.49.

I Had to Do Something!

This was insane! After carefully planning I decided to cut the card. I paid them their balance after about two to three weeks and decided on an action of my own. Saving an amount of 150.00 to 200.00, I was soon at an amount of 5,000.00. Sort of a payment to myself without the grief and greed of giving another dime to a company who decides how much I can spend under their changing plans. So whenever I needed 200.00 or 300.00 it was there for me with no interest rate of 29.9% which is difficult to escape. The terms were now my own, should I decide not to pay myself back one month - no problem, no late fees or worry about how much I owed them.

Free Yourself From The Madness!

It may seem like an impossible feat to perform but I did it. All you really have to do is take the exact same amount that you are paying the credit card company and pay yourself by putting it int a checking or savings account. If you can pay a little more then do it. Just remind yourself that this account should not be touched. Why should you pay someone else for using their money on their terms when you can do the same thing on your terms?

I put this same action in place for the other two credit cards I have and you know what? I feel that I am financially independent at last! Now when the envelope with their branding logo shows up at my mailbox I can at least toss it. It would only be another "offer" for a low rate credit card.

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)