Battling The Credit Card Monster

Battling The Credit Card Monster

The credit card monster was born with Bank of America’s issuance of the Bank Americard in the year 1958. This was the first credit card to ever be issued in the United States and it began with a trial run. Before the advent of credit cards, the notion of credit was a lot different than it is today. Credit was mostly issued and supplied on a ledger and simply written down. This new process of having an identifying credit card number was almost like magic to many consumers. It’s impact to society has been tremendous back then and still is even until this very day.

Many Americans nationwide are currently undergoing a fight. They are battling a monster that just keeps getting hungrier and bigger and more difficult to defeat as time passes. In an attempt to put a likeness and a name to this beast so many Americans have been become familiar with, we have created the story of the credit card monster. The Credit Card Monster is real and many Americans all across the country are fighting him day in and day out. They are fighting him off with the use of grocery store coupons, with side hustles, with selling away unwanted items and whichever other cash generating and savings opportunities they have at their disposal. They’re doing the best they can the only way they know how. It’s not a position that anyone wants to be in but it’s a situation many find themselves in due to extenuating life circumstances (inflationary pressures, divorce, death in the family, medical issues, financial hardship, etc.). And one thing is for sure, this conflict isn’t an easy one!

The credit card monster isn’t just any regular type of monster. He’s dug his teeth into the neck of Americans at large and is out looking for blood. Although the story is made up, it’s one we can all relate too since inflation and changes in the price of goods has run rampant throughout society and greatly changed our cost of living.

This battle has become so prevalent that many of the people throughout the country who are fighting this good fight and living with a credit card monster on their backs can relate to this story. These consumers would benefit from more financial education since many do not maintain proper financial habits and are prone to money misuse. The proliferation of this money misuse leads to bad money decisions and a growing credit card monster. The credit card monster is great at growing of his own accord and this growth occurs quite easily. It doesn’t take much, especially when money is lent out based on our current fractional reserve banking system. Then you have the effects of compounding interest which can make things even more difficult and even harder for those that want to get ahead.

For your everyday consumer who feels trapped in a cycle of credit card debt, the process of breaking free can feel extremely daunting. This is also part of the reason why creditors are willing to settle for less. On the other hand, the process of getting into debt can feel like a breeze. It’s easy to accrue high interest rate credit card debt, life happens and when life happens it can happen very fast. This is why it’s important that we maintain proper financial habits! How we fight back against crippling interest rates says a lot about how we’ll do when we actually use everything at our disposal to fight against the monster.

The credit card monster isn’t just a metaphor. For many Americans it’s a cruel reality. Many feel the weight and burden of financial pressures each and every day and without a lifeline or a reasonable path forward they often become caught in this repeating cycle that feels like it can have no end. But there is always a way out and a path forward if you put your mind to it! With hardship comes ease and there are multiple options in the marketplace which grant ease to consumers. There are credit counseling options, debt settlement options, personal loan and debt consolidation loan options. Some of these options will surely be better than others and some will provide more savings than others. Which option is best suited to you really depends on your particular situation, the amount of debt your carrying, your credit score and your debt to income ratio.

This is why it’s so important to effectively manage your finances day in and day out. If we can’t effectively manage our finances we’ll become victims to the credit card monster again and again and won’t be able to escape the cycle.

The credit card monster isn’t just any type of fiend, it’s an abomination that feeds on struggling Americans who cannot manage to get a grapple on their financial situation. This monster isn’t a pushover and he has got his grips on American society at large. Using credit cards and acquiring debt has become a way of American life and culture. It’s something firmly ingrained into our societal norms and due to this it’s not something we can easily eliminate. It takes careful planning and time to implement.

This is why it’s important we remain vigilant and on guard when budgeting and always think before making frivolous purchases. Otherwise we are sure to repeat the same mistakes over and over again. And that will surely not help our financial fight.

To see the full story watch the video at https://www.youtube.com/@thedebtreliefcompany