Escaping the Trap of Historically High Interest Rates
It’s not just the consumers with poor credit who are paying a stiff price for historically high interest rates these days – Americans with excellent credit are seeing their interest rates on many of their credit cards skyrocketing.
Macy’s department store recently sent out letters to their cardholders announcing a jump in the interest rate of the Macy’s retail credit card to a record 34.49%.
This shockingly high rate is in line with a national trend that is threatening even the most loyal and responsible of card holders who are finding it harder to pay off balances, meaning higher total interest paid over the lifetime of the balance – potentially resulting in hundreds or thousands of additional costs, even with excellent credit scores and perfect payment histories.
What can consumers do to keep from getting stuck in the costly snare of historically high interest rates and rising debt?
Ideally cardholders pay off their credit cards in full each month, but with current inflation rates, that is a luxury that is becoming harder and harder, even for high wage earners.
A recent CBS story highlights the issue and walks through the shocking cost of paying off a bill at these exorbitant rates:
“CBS 8 asked Rossman to calculate how long it would take to pay off a $1,000 Macy’s bill under the new 34.49% rate by only making minimum payments,
The answer is as shocking as the APR itself.
“That would keep somebody in debt for 58 months. So almost five years. The total interest expense would be $1,047. So, in other words, you’ve more than doubled your initial outlay,” said Rossman.”
How can you escape the cycle of high interest credit and not get locked into a lifetime of debt? Luckily Insight Credit Group has launched an exciting new product that empowers consumers to do exactly that!
Our new Interest Cancellation Debt Elimination program is designed to help you eliminate up to 70% of interest payments on all interest-bearing debts – this includes credit card debt, as well as home mortgages, auto loans, student loans etc. – potentially saving you thousands, tens of thousands or even hundreds of thousands of dollars in interest payments!
This fail-proof financial program incorporates advanced algorithms and technologies along with advanced debt reduction strategies to empower clients to eliminate their debt in record time, with many clients becoming debt-free in as little as one third to one half of the time it would normally take by following the bank’s or creditor’s plan.
With these exorbitant interest rates causing hardship to even the most responsible of consumers, this program is a lifeline to helping clients maximize wealth by optimizing interest savings without changing their budgets, income, or lifestyle.
The best part is that this program is not loan consolidation, debt settlement, credit repair, credit counseling or bankruptcy and does not harm your credit or affect your access to credit cards or loans in any way – incredibly, this new program will only improve your scores and overall credit worthiness!
Don’t let historically-high interest rates keeping you from the financial freedom that you deserve – let us show you how the Interest Cancellation Debt Elimination program can create a customized roadmap of exactly how to pay off your debt most strategically at the maximum savings to you – all without taking any risk with your credit.
You’ve worked hard to get to where you are today so stop wasting your hard-earned money on high interest payments which only serves to make the banks and credit card companies rich – learn how to live a debt free lifestyle and live life on your terms today!
