Creditor Card Traps  

A large part of the problem is a monstrous conspiracy that is being perpetrated upon the consumer.  These “Creditor Traps” are set because of the enormous income moneylenders earn from the interest they charge to those who pay for what they purchase over time. Many retailers earn more from interest on their charge accounts then they do from selling merchandise.

With interest rates exceeding 28%, charge cards and credit cards have become the most lucrative area of the money lending business. Yet, it wasn’t too long ago that charging such rates was a crime called usury and you could go to prison for it.

Credit Card Facts

• Americans spend approximately $1.5 trillion using our credit every year.
• By the end of 2007, there were nearly 1.8 billion credit cards in circulation.
• America's credit card use is greater than that of the entire world combined.
• Among all U.S. industries, credit cards companies are the most lucrative. 

 It's All About Money

Credit card comapnies spend $5 billion a year marketing their credit cards to us. Clearly, in order to support such a marketing campaign, they're making a lot of money. Regardless of age, each American carries an average of $8000 in credit card debt, which equates to about $30 billion before taxes.   

That's $30,000,000,000!!!!!!!!