Jan 01 2009
Credit Card Debt
Leave Home Without It…
Membership has its privileges, but it also has a huge share of disadvantages. Without the proper know-how and guidance, you could find yourself buried beneath an avalanche of credit card debt. Millions of Americans are just like you and are currently attempting to pay off $450 billion to credit card companies. It’s in a credit card company’s best interest to keep you in debt—after all that’s how they make their real money. Even by following their rules, you can quickly be put at a disadvantage. It seems as if there is no light at the end of the tunnel—that is, until now.
And All That Goes With It
Whether you are overwhelmed by credit card debt or trying to prevent it altogether, Credit Card Debt has the answers. The author’s basic three-step program provides the information you need to reduce interest rates, eliminate fees, and negotiate with credit card companies to keep your credit report clean. Uniquely designed to help you organize, analyze and reduce your debt, this book helps you understand how credit card companies make their money, how credit cards work, and how to use them responsibly.
User Ratings and Reviews
5 Stars Freeloader
According to the author of Credit Card Debt, a freeloader is what credit card companies call the smart individuals who pay off their debt every month (they’ve gone to a less likable “deadbeat” since the printing of this book).
While the information is almost a decade old, there is still a wealth of knowledge in this book and most of the core principles are still valid. Daskaloff describes the credit card industry in terms of specific credit cards and accounts for specific people: those who pay their cards off every month; those who carry a balance; people who are very disciplined; etc., and this format is very helpful for the average consumer. The book is an easy ready, but one that is recommended for those who want to learn the basics on the industry that is shaping our culture.
All in all, it’s a good book and is well worth the $7.
3 Stars good information
All right, here is my review: I think this book is not bad at all. It gives some very useful information about credit cards and credit card issuers. It is always very useful to have this info in your mind, although some of them are really straightforward and clear. Sometimes you need to read it in someone else’s words even you know it. By the way, if you really don’t know how to organize your finances like writing down your balance and credit limit on a piece of paper, you should really read this book!
Ok, that was the good part about the book. What about the rest? Don’t we all know how to try to get lower interest from issuer and high interest rate induces high interest on top of your balance in every billing cycle? We know what a transfer balance with promotional rate is etc. and how to use it in our advantage. If you don’t, Read this book.
Do you know what is the magical trick behind all of this credit card debt reduction techniques! I’ll tell you that. PAY YOUR BALANCES. From no book you cannot get any information about how to reduce your debt without paying money. So, don’t spend much, but try to pay as much as you can. Booom, you reduce your credit card debt. That simple.
Last words, this book covers some useful info you might not have known at all. Maybe it should be called “credit cards for dummies”. Aren’t we all little bit dummy in this field?
3 Stars Only helps people who are in good shape
I am deep in credit card debt, and I am being hounded by credit card companies, bill collecters, etc. I thought that this book would really help me with my alternatives for debt consolidation, give me guidelines about when to file for bankrupcty, and offer some advice about how to work with professionals. Instead, it seems like this book is written for the average person who isn’t too deeply in trouble. I will keep looking for a book that evaluates the various debt consolidation agencies, talks about making settlement offers with the credit card companies, and provides information about how my credit report will be affected by the various alternatives. At this point, would it better to just file for bankruptcy? Would it be worse for my long-term credit to file Chapter 7 as opposed to making 50% settlements with my creditors? How can I find answers to these questions?
Leave a Reply
You must be logged in to post a comment.
