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When you hear talk surrounding credit card debt, it will undoubtedly raise the blood temperature of individuals standing nearby.
But why?
It’s because there are so many people drowning in credit card debit!
And the main driver behind it is the unforgiving levels of interest!
This is interest that’s steadily climbing, and credit card users are scrambling to find a way to pay down debt owed to their lenders.
Unfortunately for them, they are locked in with a financing company that is upping-the-ante on their pocketbooks and wallets!
In the U.S. today, big credit card companies are raking in the dough at the expense of credit card owners.
In fact, one situation that placed a HUGE spotlight on the heads of two noteworthy providers (Mastercard & Visa) serves as the best example.
This matter became such a phenomenon to the point where two company executives were dragged into a congressional hearing!
And what was uncovered will surely piss off a lot of card credit card holders.
Big Credit Card Companies Trying to Lie They Way Out of Stiffing Their Customers (at Congress):
If you click to see the video provided by the hyperlink above, then you learned what credit card companies are doing to enrich themselves!
Well, the tables got turned in on them in a lickety-split second, as Sen. Josh Hawley in the video literally threw the book right in their faces!
Now, what Hawley pointed out was the following:
.- Criticism of Practices - The Senator strongly criticized credit card companies for engaging in what he considers predatory practices.
- Unfair Fees - He highlighted their use of excessively high fees and interest rates that exploit consumers.
- Impact on Innovation - Hawley argued that these companies stifle competition and innovation in the tech industry by prioritizing profits over fair business practices.
- Call for Reform - He emphasized the need for regulatory changes to protect consumers and create a more equitable financial system.
Hawley wasted no time making short work of two execs from Mastercard and Visa.
They worked "seemingly in unison" to pull the wool over
the eyes of the Congressional Committee, trying to downplay the accusations they faced.
He drilled them relentlessly asking them why credit card companies are targeting customers, and indirectly targeting smaller card distributor credit card companies.
The crux of Hawley's argument was the outrageous 30% interest rates that these big credit card companies are imposing.
And since that's the case, what can the average credit card holder do to undermine their demands?
Well, stick around, because here are 6 ways, just understand these are NOT perfect finance solutions - but they may be helpful!
Credit card rates are climbing, with some retail cards hitting up to 30% interest - YIKES! So, here’s how to handle it: [1]
- Pay off your balance in full every month to skip interest entirely [2].
- Switch to a balance transfer card with a lower rate or a 0% intro APR [2].
- Consolidate debt with a personal loan that offers a better interest rate [2].
- Call your card issuer and ask for a lower rate - it’s worth a shot!
- Use budgeting apps to track spending and avoid adding more debt [2].
- Opt in for no-annual-fee cards to save on extra charges [3].
Those are just a few tactical steps you can take to manage those agonizing credit card expenses!
Hopefully these strategies prove to be effective in helping you to achieve that!
BUT WAIT...
There's more to come, because there's a HUGE bucket load of information that's about to get dropped at your feet!
And if you're interested, then scroll down a bit further to a possible way to acquire funds from credit card companies!
Now, I'm not going to lie, but this way - or rather process; Will be a bit on the technical side of things.
BUT DON'T LET THAT STOP YOU!
So, without further adieu, scroll past this section to see what the ruckus is all about in regard to this credit card caper!
BTW, it's legal to do, in case you're wondering...
Alright, there's a deeper aspect behind this Credit Card caper that's waiting for you to discover.
Click here to learn more! 😁
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