We live in a credit driven society, and it runs in cycles. First it’s too easily given, then other times if you do not fit perfectly into their box of what they want you cannot get any.
Many people get hit with hard times (short or long) then they put all the bills on credit cards which accrue “DAILY INTEREST” and then the domino effect kicks in and you do not truly realize the mess you created until it’s too late and you are only able to make the minimum payments or a little more than that.
Then you see on your statement if you pay the minimum you will be paid off anywhere from 10-34 years. If this is the first time you read this check it out, it is mind blowing.