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Seven Credit Card Debt Reduction Strategies, Credit Card Debt Can Be Reduced!

Posted by James Breen at 24 August 2008 4:19

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While more information waited to be found, that is what I found:

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Credit card and even more so Store card interest are set at exorbitant rates for one reason alone, companies make their money from the consumer’s inability to settle their card balances. Credit card debt is unsecured, whereas other debt like your mortgage is secured (your home acts as security against your debt). With credit card debt, there is no backing security, which means that credit card debt is high risk for banks and hence the high interest rates


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