And now for a couple words that get overused a lot these days. “Credit card”.  It’s become entirely too easy to use credit cards too much because it’s gotten so incredibly easy to get the things.  If it’s not super low introductory rates then it’s something like 0% balance transfers that encourage you to move your balance from one card to a new one.

This gets two things done.  First you end up with an aditional credit card and have the ability to put yourself that much farther in debt.  Second, by carrying a balance you’re going to end up paying more to the credit card company.  That’s because many people jump at balance transfer deals without thinking about what other fees might be involved or the fact that carrying a balance is always going to cost more than paying off every month.  Part of this is from people just jumping on a good sounding offer without taking the time to compare credit cards.

If you do have a balance, I read something recently called the true cost of balance transfers that talks about costs involved that I’m certain that most people don’t think about when getting a credit card.  They’re just looking at whatever the credit card company in question is making the biggest deal about and not examining the whole picture more closely before the commit to anything.

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