een late on a payment or two on one card, are you surprised to find out that your interest rate has gone up on ALL your credit cards? It's called "Universal Default" and it is the brainchild of those nickel and dime fee trolls the banks have locked in their basements.

Want to escape the endless cycle of debt? You'll need a plan

I've been debt-free and I've been heavily in debt. And believe me, debt-free is a whole lot better.

There was a definite plan to get you into debt. That was the plan of the banks, credit card companies and auto loan guys. Their plan was to get you started on the road to permanent servitude, and once they got you on that road, to NEVER let you get off.

The banks road is full of potholes that trap you into a life of never-ending debt. The tools that they use are high interest rates that just keep going up, universal default, late fees, over-limit fees and all of the other charges and fees that just keep adding to your misery.

Did you know that the banks and credit card companies have teams of people whose sole job is to think of new ways to nickel and dime you to death?

Don't believe me? Here are a couple of gold-plated (for the banks) examples of how the trap gets set:

Do you remember just a few years ago, when you went to buy something on a credit card and you hit the credit limit on the card. What happened? The transaction was declined, right?

Not any more!!! Now the sale goes through and the next month you have an over-limit charge on your statement. It's usually around 40 bucks. Figure that stuff into your 18% credit card and you are more likely paying 25%-30%.

And if you've been late on a payment or two on one card, are you surprised to find out that your interest rate has gone up on ALL your credit cards? It's called "Universal Default" and it is the brainchild of those nickel and dime fee trolls the banks have locked in their basements.

Want to escape the endless cycle of debt? You'll need a plan.

o NEVER let you get off.

The banks road is full of potholes that trap you into a life of never-ending debt. The tools that they use are high interest rates that just keep going up, universal default, late fees, over-limit fees and all of the other charges and fees that just keep adding to your misery.

Did you know that the banks and credit card companies have teams of people whose sole job is to think of new ways to nickel and dime you to death?

Don't believe me? Here are a couple of gold-plated (for the banks) examples of how the trap gets set:

Do you remember just a few years ago, when you went to buy something on a credit card and you hit the credit limit on the card. What happened? The transaction was declined, right?

Not any more!!! Now the sale goes through and the next month you have an over-limit charge on your statement. It's usually around 40 bucks. Figure that stuff into your 18% credit card and you are more likely paying 25%-30%.

And if you've been late on a payment or two on one card, are you surprised to find out that your interest rate has gone up on ALL your credit cards? It's called "Universal Default" and it is the brainchild of those nickel and dime fee trolls the banks have locked in their basements.

Want to escape the endless cycle of debt? You'll need a plan

banks and credit card companies have teams of people whose sole job is to think of new ways to nickel and dime you to death?

Don't believe me? Here are a couple of gold-plated (for the banks) examples of how the trap gets set:

Do you remember just a few years ago, when you went to buy something on a credit card and you hit the credit limit on the card. What happened? The transaction was declined, right?

Not any more!!! Now the sale goes through and the next month you have an over-limit charge on your statement. It's usually around 40 bucks. Figure that stuff into your 18% credit card and you are more likely paying 25%-30%.

And if you've been late on a payment or two on one card, are you surprised to find out that your interest rate has gone up on ALL your credit cards? It's called "Universal Default" and it is the brainchild of those nickel and dime fee trolls the banks have locked in their basements.

Want to escape the endless cycle of debt? You'll need a plan

it the credit limit on the card. What happened? The transaction was declined, right?

Not any more!!! Now the sale goes through and the next month you have an over-limit charge on your statement. It's usually around 40 bucks. Figure that stuff into your 18% credit card and you are more likely paying 25%-30%.

And if you've been late on a payment or two on one card, are you surprised to find out that your interest rate has gone up on ALL your credit cards? It's called "Universal Default" and it is the brainchild of those nickel and dime fee trolls the banks have locked in their basements.

Want to escape the endless cycle of debt? You'll need a plan

een late on a payment or two on one card, are you surprised to find out that your interest rate has gone up on ALL your credit cards? It's called "Universal Default" and it is the brainchild of those nickel and dime fee trolls the banks have locked in their basements.

Want to escape the endless cycle of debt? You'll need a plan. But, make sure it's a good one or the banks will own you until you die.