MONEY MANAGEMENT 101: GET YOUR DEBT & CREDIT IN …

WHY IS CREDIT CARD DEBT SO FINANCIALLY DAMAGING? • Exceptionally high interest rates: 14% to >25%–median rate at nearly 21% • High rates can mean years to pay off credit card loans • Cards easy to get–even with sub-averagecredit scores • Debt is unsecured–i.e. no collateral behind the loan, such as a home collateralizing a mortgage • Too much credit card debt can impact credit ... ................
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