Why Are Credit Card Interest Rates So High?
- Friday, August 03, 2007
But don’t be fooled. Even at 2 ½ percent monthly, a $4,000 credit card debt (depending on your interest rate) could take over twenty-five years to pay off! And, if your card company only requires a 2 percent monthly payment, that same $4,000 could take over forty years to pay off!
I’ve presented the No Debt no Sweat! Christian Money Management Seminar at about 250 churches and Christian conferences nationwide. Everywhere I go, I run into people who are trapped in credit card debt. For many people, this is the most painful form of debt there is It destroys joy and spiritual vigor. It damages marriages and depletes trust between husbands and wives. And, it sets a miserable example for the children.
Remember, they may be everywhere you want to be, but they don’t usually care if you’re debt-free!
Steve Diggs presents the No Debt No Sweat! Christian Money Management Seminar at churches and other venues nationwide. Visit Steve on the Web at www.stevediggs.com or call 615-834-3063. The author of several books, today Steve serves as a minister for the Antioch Church of Christ in Nashville. For 25 years he was President of the Franklin Group, Inc. Steve and Bonnie have four children whom they have home schooled. The family lives in Brentwood, Tennessee.
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