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Everybody complains that it’s the bankers in the City that are the fat cats in London. Well not so!

Look at this interesting little fact I discovered today.

£52,786 is what a traffic warden in Tower Hamlets earned last year including bonuses.

That’s where our tax pounds are going…into the pockets of the fat cat “gutter bandits”. It’s no wonder unskilled and uneducated members of our society are queuing up to get a job as a traffic warden. What a great way to earn so much money without having to study hard and take examinations in finance, like the City workers are having to do just to keep their jobs!

Nice work Tower Hamlets…

The majority of the Americans has just under $10,000 dollars of credit card debt. We are hungry for things we cannot manage to pay for and have a sense of entitlement despite the fact that the money isnt there. Thus we make use of our credit cards to purchase things with money we dont have. But there are times when credit cards are good for you. With credit card debt, it is exactly about what kind of interest rate you hot on you credit cards. How much is your credit card debt costing you is the most important concern. Whenever it isnt costing you much money then you could possibly be in ok shape. Yes, sometimes when credit card companies are excellent for you.

When you have credit cards and recognize what your rate is you happen to be on a much more desirable route to debt relief then if you really don’t know what your money is charging you. In fact I have about $7,000 in credit card debt. I often switch jobs and had to make use of them for my needs. On the other hand as opposed to most folks in credit card debt, I’m entirely mindful of how much that credit card debt is charging me. The answerZero.

I have a balance on two cards. Either of the credit cards are at 0%. Now please do not get this twisted up. These card are not going to be at zero % interest permanently. This is part of exactly how the credit card companies make money. What the banking companies are doing is providing me a 0% interest rate for the first year on the card. This is tempting. There after year the cards will jump up to a much increased rate. There are two hopes of the banks with an offer such as this. Reason one is that the credit card companies are hoping that I will miss a payment or come up with one late. When you skip a credit card payment or come up with 1 late, you can be sure that your rate will increase. They are wishing that you will mess this up. Most do. One thing I recognized is that while the credit card companies make the preliminary rates very obvious. They make it very, very hard for you to find out when the actual payment is scheduled. This is a underhanded but efficient step. Most individuals obtain the notice when it’s too late.

The next part is that they presume that you are going to forget when your introductory rate will end. So that once you hit the end of that peroiod of time, your rate jumps up drastically. Yet here’s the great news. When you’re on the ball and recognize when the rate is going to jump up, you can be prepared for it. I constantly look on the mail box for a new 0% APR offer so that I can do a balance transfer before I have to pay the higher rate. This is the attractiveness of competition. Companies want you to switch to their card in the hopes that you will mess up. Sure, other credit card offers are an outstanding thing for you. The banks can tell if you have been timely on your payments and target you with their much better offer.

Something I would look for on the new credit card offers is the APR on balance transfers. Some actually have 0% APR on balance transfers. This is excellent as it won’t cost you anything to move your money. Nevertheless this is not at all times the option. When a company gives a 3% apr on balance transfers, however you rate is about to go to 15%, TAKE the 3%. Its still better than getting hammered with the 15% if you stayed around. Make use of the credit card companies to acquire debt relief. Find out how to eliminate credit card debt with debt relief programs like virginia debt relief and michigan debt relief as they will help free you from your credit card debts.

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