Interest+Explained

=Of Great Interest and Concern= Credit Card companies keep a record of transactions (purchases) on your account and bill you each month for all purchases. If you pay off the total amount, there is no "interest" or "finance charge" assessed to your credit account. If, however, you do not pay the balance owed, a charge is added to the total amout you owe, thus beginning the dark spiral into debt.

Before selecting a credit card, examine very closely the terms and conditions that a company is willing to offer you for "borrowing" money from them; essentially what you are doing. They, in turn, charge you "interest" for the use of the money past 30 days....this, my friends, is where the problems begin. A never-ending cycle of borrowing begins....with [|interest] piling up over time.

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