Ahhh the dreaded credit cards!!

Till Debt do us part!!

The american dream is often labeled as a good job, a white picket fence and 2.5 kids ( the dog is the .5)…. Well news flash the real american dream is debt on debt on debt. Look around, the average american household has 5.7K in credit card debt. Let just say I am over achieving in this area on my life.

I remember my first experience with credit cards was my sophomore year in college. Bank of America called me on my cell ( no clue how they got my number) asking me if I was a student.. I was like yes! Do you work? I’m like not really. By the next question I should of known this was all a setup- they said well do your parents give you money? I was hype to say yes and just like that a rollercoaster of a marriage was formed. Congratulations you have been approved for a PSU credit card in the amount of $500.00.

I was soo excited… to the point where I started planning how I’m going to spend my money. My behind was like oooo I can buy my books for this semester now (no, seriously that was my thought process). I ended up putting about $350 on the card.

Guess what?? First payment due was the first payment missed.. I didn’t have the money so I figured I can just pay them next month. haha, jokes on me. Late payment fee + interest = balance now near 400 if not over. These books were now becoming the most expensive books on earth. As soon as I realized this I made every effort not to miss a payment.

Lets break down the wonderful credit (crack) cards. See below

–APR {Annual Percentage Rate}

• Basically the interest rate you are charged in 1 year. Credit card companies are allowed to show their interest rates on a monthly basis, so a credit card may charge 1% a month, and its APR is 1% x 12 months, or 12% if the monthly balance isn’t paid in full.

-MIN BALANCE DUE

• The way they keep their feet on your neck! Usually the min due is a fixed amount or a small percentage of your balance whichever is greater to keep your account current and avoid any missed payments. This will allow your balance to essentially never go anywhere because you are only paying interest. Are you starting to see how they set us up for failure?? Things I wish I knew early on.

-CREDIT LIMIT

• The ultimate setup by lucifer himself… idk just saying. This is the amount you are given to spend but not go over. This amount typically increases once you establish a good payment history.

-BALANCE

• You know what it is… That outfit you had to have for that event you had to go to.. Yup you still owe them for it… Run them their money!!

This topic is alot y’all.. I gots lots more to say. more to come Ciao for now!!