When credit cards first emerged in the 1950s, the public welcomed the concept with open arms. After all, these little plastic wonders gave consumers buying power like they'd never had before, allowing them to purchase things that were previously out of their reach without the initial outlay of a single penny. Of course, the holders of credit cards did have to pay back the debt, and they soon learned the cost of the convenience was a lot more than they'd anticipated. A half century later, people have finally started to fully understand the devastating effects revolving credit accounts can have on their financial futures. Thinking the realization came too late, many of these people feel their situations are hopeless. If you're one of these people, Quick Debt Consolidation can restore hope in your life.
In spite of their parasitic nature in relation to their holders' finances, it isn't easy to dismiss the genius that went into designing the revolving credit system, making credit cards the ultimate money-making consumer product. Freedom is a basic desire of all human beings, and credit cards offer the freedom of spending--the ability to buy what you want, when you want it. So credit card companies rarely see a lull in the steady succession of new customers walking through their "in" door. However, after their spending sprees have ended and they're ready to call it a day, most of these people discover finding the "out" door is no easy task. And the longer they remain in the grasp of revolving credit, the more difficult it is to find an exit.
One of the factors that keeps customers in a credit card's inescapable snare is the revolving credit system, which involves recalculating monthly interest charges based on an account's current balance. So even though credit card holders are ostensibly given a fixed interest rate, the amount of interest they pay fluctuates based on the account's balance. And given the convenience associated with their product, credit card companies count on that balance to increase as customers continue reaching for their cards when making purchases. But just in case that doesn't happen, they have a backup plan in place to prevent customers from finding freedom through paying down their balances: low monthly payments. By charging customers an average of 2 percent of a given month's current balance, credit card companies collect just enough to cover the aforementioned interest charge. As a result, the balance remains unchanged. It's then forwarded to the following month's bill and the vicious cycle begins another round. By continuing to pay only the monthly minimum, you could feasibly find yourself trapped in the revolving nightmare indefinitely. However, Quick Debt Consolidation can help you find a way out.
A debt consolidation loan condenses your monthly bills into one inexpensive, convenient payment with a fixed interest rate. Not only will that leave you with extra cash every month, but it will also allow you to do something you've likely never experienced with your credit card accounts: watch your balance decrease with each monthly payment. The nearer that number gets to zero, the closer you'll become to financial emancipation. With Quick Debt Consolidation on your side, your hard-earned money will finally be where it belongs: in your pocket.