Escaping the Credit Card Trap: Cancelling a Credit Card Can Increase your Interest Rate
(Part one of a continuing series)
For many people, credit cards have become a necessity and that's fine as long as they are used properly. However, many people continue to increase their credit card balances year after year and find themselves paying a significant portion of their income to the credit card companies every month with no end in sight. When a credit card is finally paid off, many of these frustrated consumers cancel the card outright so that they'll never get caught up in the credit card trap again.





