A tip from the National Credit Care

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I just love my credit card...

Alright, so everyone understands they are getting robbed blind by credit card interest rates assuming they are an active user. There is no secret there; however, I think we should quickly study how impactful a lifetime of using credit cards with bad interest rates really is.

There is a reason we have seen anywhere from David Spade at his height to Samuel L. Jackson do credit card commercials. I'm pretty sure they didn't go cheap. Great credit scores can get you down into the 10% APR range on your cards. Pretty bad credit, assuming you can get qualified at all, can put you all the way up to 30% range.  Although we've seen ultra-high as much as 80% APR on high-risk cards, but at that point, you might as well go outside and shoot yourself in the foot because they will both feel about the same.

Let's use a slightly worse than average rate surveyed by creditcards.com of 23.23%. Let's say you make a single $1,000 purchase on a card with a 23.23% APR, it would take you over 6 years to pay it off if you just paid the minimum and the credit card company would collect $840 of interest during that time. However, if you had a good credit score you would pay it off two years earlier, and only be at around $200 in total interest. The difference is well over $600 and that is just ONE purchase. ONE PURCHASE. THAT'S INSANE.

What people often forget when losing money due to their credit scores, is that not only do they end up with the same product after spending more, the money they lost could have been allocated towards investment/retirement and when you add a modest 7% return on that lost money over a lifetime, the bill goes from anywhere from 100s of thousands to millions.

Don't throw away money or allow others to do likewise. Please send these referrals on over by using your personal URL PORTAL.

Devin Norcross
Regional Director and Manager National Credit Care
Cell: (303)500-7697 Office: (866)595-6313 Ext. 403 Fax: (877)754-5724 Email: devin@nationalcreditcare.com http://www.nationalcreditcare.com/

Tip from the National Credit Care

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The Handshake is Dead

Do you remember hearing the stories of your grandfather going into the bark to receive a loan and after a firm man chat where the terms were agreed upon by a "stronger than oak" handshake? That's about as believable as unicorns these days. Let me tell you how far we have "evolved for better or worse since then, and this is not just a great demonstration because I work in the credit restoration universe, but it's certainly convenient. The latest victim to come under the scrutiny of the credit score may well be customer service industry. According to DSL Reports, Cable One fully admitted that they provide worse customer service to people with lower scores. CEO Thomas Might said at a recent P Morgan Global Technology conference that the cable company's support staff isn't going to spend 15 minutes setting up an iPhone app for a Customer who has a low FICO score.

Legal or not, like it or not, Cable One who services almost a million people, makes it known that a variety of companies are getting more skilled at using a range of data that is collected to identify credit-troubled customers in efforts to spend less time and resources aiding them, that is if they even accept them in the first place.

Talk about kicking you when you're down. Not only does one prevent themselves from attaining a house, car, job, credit card or many other things with struggling scores, or at the very least has to suffer through high enough interest rates to bankrupt Greece all over again; but now you get treated like the local leper when calling for some help because your cable went down during the 982nd season of The Bachelorette... when on earth is that show going to end... yes I can see it's the last rose tonight...I can count to ONE you know.

I tell you, complaining about it like I'm currently doing isn't going to her regardless of how good it feels. You must allow us to help so you don't end up on the wrong side of the battle. Please send those referrals on over by using your URL PORTAL

Devin Norcross

Regional Director and Manager National Credit Care 

Cell: (303)500-7697 Office: (866)595-6313 Ext. 403 Fax: (877)754-5724 Email: devin@nationalcreditcare.com http://www.nationalcreditcare.com/