If youve spent more than your budget can cope with, then maybe youre thinking about credit to help you through January. Many people fear the long, broke month of January. After a lovely Christmas full of joyous smiles January can see a mood swing in the wrong direction. Many of us turn to credit cards to help get through this terrible month. But without knowledge of the financial industry a person without a great income can fall victim to the evil grip of unscrupulous credit companies.
In his newspaper article, Simon Bain of the Herald tells of how one particular bank has been sending credit card applications to people with offers of a credit card with APR of up to 69%. This astounding rate applies with a credit limit of 150, while an APR of 41% applies to a credit limit of 1500.
Quick additional sums of money may seem very tempting to people at this time of year, and without consideration a lot of people will be more than tempted. But its not until later that the repercussions of such a high interest hit home. This can lead to difficulties in February, which spill over into March and so on, until before you know it its Christmas again and you have serious...
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