First, how does a person get a credit card? Second, what happens to people when they go into debt an

make their payments. I don%26#039;t have a credit card, but I know so many people that are deep in debt and I don%26#039;t understand what that means-what happens if they don%26#039;t pay what they owe?

First, how does a person get a credit card? Second, what happens to people when they go into debt and can not?

first of all, you have to have a steady income/job to get a credit card from any bank. then the bank gives you an allowance or spending limit. lets say you can spend upto $1000 on your credit card. The deal with some banks is that sometimes you have to pay them monthly, or semi annually. The amount you pay the bank should either cover the month%26#039;s entire spending or at least cover some of it (if you spen 1000, some banks let you pay 500). this way the banks know that you are serious about paying them back and will be able to repay any debt incurred. the danger zone is if you spen more than what they give you ($2000)

First, how does a person get a credit card? Second, what happens to people when they go into debt and can not?

Go to the non secure websites and get a credit card if your talking about bad credit. I only recommend getting one credit card and see how you can handle that. You want to to go crazy and get so many that you have to declare bankruptcy to get out of debt. Its not worth it.

First, how does a person get a credit card? Second, what happens to people when they go into debt and can not?

The intrest rates pile up along with late fees, then when they get send to the collections agency, the amount that they owe to the credit card companies has a good chance of being doubled. their bank accounts will be closed and they will have a hard time opening an account at a diffrent bank for years.

First, how does a person get a credit card? Second, what happens to people when they go into debt and can not?

firstly a person gets a credit card based on the previous creditability report, if u don%26#039;t pay what u owe u would be proved bankrupt and there after you would never get neither a credit card nor a bank loan from any where in the since your overall credit worthness has been destroyed. beware

First, how does a person get a credit card? Second, what happens to people when they go into debt and can not?

You can obtain a credit card by applying at a bank, which is offering this serivce. You will have to provide evidence of your business or salary, as the case may be. If you fulfil the bank%26#039;s requirement, you will be issued a credit card within 15 days of a specific credit limit. you can shop on that card while remaining in that limit.However, you have to repay the credit amount within 50 days. if so, you wont be charged any mark-up,fine,service charges etc. However, if you delay your payment, you will be charged with so many things. So your account will go into negative unless you clear those amount.

First, how does a person get a credit card? Second, what happens to people when they go into debt and can not?

Answering your unasked question, 鈥淲hy should I care about my credit score鈥? if you have a great credit score, life is cheaper.

I started my credit life at 25% interest and paying $35-$75 annual fees for the privilege of having credit cards. I%26#039;m now insulted by any offer that has double digits and automatically throw away anything that says 鈥渁nnual fee鈥? I also get a 5% rebate on all the gas I buy. When I pay $3.19 for a gallon of gas I smile a little because that鈥檚 the price everyone else is paying, I鈥檓 really paying $3.03.

If I didn鈥檛 pay my credit cards on time, my interest rate would skyrocket to a default rate of 30-35% and all my privileges and perks would disappear. If I couldn%26#039;t control my spending, my debt would just get bigger and bigger and I%26#039;d fear what the mail would bring me every day. Every day would be a bad day (that%26#039;s the voice of experience talking).

Why use credit cards? Well, I could live within my means, but who does that anymore? I need that PS3!

First, how does a person get a credit card? Second, what happens to people when they go into debt and can not?

debt consolidation

if someone wants to get out of debt today it is pretty easy with a debt consolidation plan

however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is:

http://umgarticles.atspace.com/debt-cons...