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It looked great didn't it?
The bank was offering you a credit card that you could use to improve your life.
It may have gone a little something like this:
You arrive home after a busy day and check the mail, you see a very official looking letter and think to yourself ‘oh no, another bill’ but as you open it up, you get a huge feeling of relief. You realise that it is not a bill, it is an offer.
The bank is giving you an offer.
It’s a credit card and guess what? You have already been approved! All you have to do is sign the letter and send it back in the reply paid envelope that they have provided you.
You may be running a little low on cash, maybe you haven't been able to buy everything you wanted at the shop. You're stressed and you think, 'I could use that extra cash for a holiday.'
So you sign the form and post it back to the bank with a sense of excited anticipation. It is very possible that you then forget what you have done, until, the day arrives.
You get another letter that looks very important.
This time, it doesn't bend and is a little heavier. You remember! How exciting, a new credit card. How much do you have? $5000, $10,000, more? And once the card is in your hands you are very likely to use it and less likely to pay it off.
The Debt Reduction Strategy is a short, straightforward guide designed to help you take control of your personal debt. Simple, clear, and easy to follow, it outlines practical steps to systematically eliminate debt.