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As With Anything Else Credit Cards Can Have A Bad Reputation Too Everybody is an expert at one thing or another, and what seems to stand out in my research on this topic is most of the experts on credit cards have never worked for a credit card company. Even those individuals that have seem sketchy. As for myself, I make no claims of being an expert on the subject. What you will read here is a synopsis of the information I have gathered. I will try to make this perfectly clear and subjective. At the same time, I should point out that there is little objective evidence to support most of the myths that circulate over the internet. First, let us address a question about debt and credit cards. In my research, the prevailing inquiry eludes to credit cards rewarding debt. The definitive answer is an emphatic “Kind of.” It is quite the opposite in fact and the reasons seem logical. The rewards one can receive with low or no debt are a wider acceptance for more credit, meaning it i...

You probably have noticed that many companies are advertising services to settle your credit card debt. These companies are hard to miss if you watch television or read the newspaper. While the idea of debt settlement sounds great, in reality many of those companies are scam artists. There is a law in Washington that regulates credit card debt settlement companies. That statute defines “debt adjusting” as “the managing, counseling, settling, adjusting, prorating, or liquidating of the indebtedness of a debtor, or receiving funds for the purpose of distributing said funds among creditors in payment or partial payment of obligations of a debtor.” A debt adjuster is any person or business that engages in the business of credit card or home loan settlements for compensation. The Attorney General’s Office on Consumer Fraud and the Department of Financial Institutions enforce this statute. Violation of the Statute is also a per se violation of the Consumer Protec...