Re: Are 0% Apr Credit Cards a Magic Debt Solution?
Good write up. I have to agree. 0% credit cards can be a useful tool if used in a responsible way. However, more often than not people use them as a quick fix to get out of some financial trouble that they have found themselves in. The problem is, this solution does not address the root problem. The root problem is that these people are in debt not because of high interest rates or anything else. They are in debt because they spend too much money. Simply consolidating your debt to a 0% credit card or any other vehicle does nothing to address the fact that these people are overspending. It will not be long before they find themselves right back where they started.
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