1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will identify you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have at least 2 credit cards and 14% of them have 10 or more credit cards.

Student Loans, Credit Card Debt & National Debt Videos

Responsible Credit Card Use - Debt Reduction Lessons
June 25th, 2007
Credit cards are not as bad as you think they are. I'm going to give you 7 tips for responsible credit card use so that you don't get burned by credit cards.

Tip #1: Never charge more than you can afford. Now I know this seems obvious but its very easy to get a lot more credit than you can really afford to pay back. Do not go on a spending spree and max out your credit cards, because you will have trouble repaying it back. (View Full Video)

Record Credit Card Debt v/s Economic Independence
June 25th, 2007
Credit card companies keep flooding our mailboxes with 4 billion Credit Card offers a year. Banks alone have made $3 trillion of credit available on their credit cards. The average American household is $9205 in credit card debt and spends over $1300 a year in interest payments.

President George Bush quotes: "American's ideal of freedom fits when Americans' find the dignity and security of Economic Independence, instead of labouring on the edge of subsistence." (View Full Video)

Student Loan Debt - Denying the American Dream
June 23rd, 2007
20 years ago, the Federal Grant program used to cover 60% of a student's tuition fees, now it's at 33%. Many students after graduation have to put off starting a family, buying a car/house because of stagerring levels of student loan debt. Unfortunately, we are no longer seeing the goal and purpose of higher education, that is to build the American dream. Instead we are seeing huge levels of debt. In the long term, I don't think higher education will be accessible to everyone qualified. The doors to higher education are becoming closed for many people. (View Full Video)

Get Real and Get Out of Debt
April 15th, 2007
Now i want to define "DEBT" for you. Debt is when you owe INTEREST to a lender, as simple as that. Now for you my friends who are first time home buyers thinking "Oh Boy, its an asset!", it is really a form of debt! Why? That's because you owe interest on this house! And the interest that you owe is for 360 months, or 30 years. Some of us finance our houses with 0% down, but what you really want to put down is 20%! For some of us in Silicon Valley, it's impossible! With townhouses and condos selling for $700,000 it really is hard. Remember again, when you buy your house for the first time, it is NOT an asset! It is a debt! It is a liability because you owe the lender, an Interest. Whatever that interest is, you might be lucky to get a 6% mortgage interest while others may not be so lucky because they may have got 9% mortgage interest rate. (View Full Video)

Record High Consumer Debt
April 10th, 2007
For the past 30 years, banks have been allowed to charge sky high interest rates on debt owed by their customers and no limit on fees charged. Banks can therefore charge their customers whatever fees or interest rates they like! Out of the 50 US States, 31 of them institute no restriction on the % of fees that banks charge or the interest rates. The states with the least consumer protection: California, Delaware, South Dakota & Tennessee. (View Full Video)

The Debt Trap
April 1st, 2007
1 in every 60 households in USA filed for bankruptcy in 2005. There's a major chance that someone in your family, a neighbour down the block or your co-worker is filing bankruptcy. It's not just an American problem either, Scotland experienced a 33% rise in mortgage delinquencies in 2005 while for every $100 Australian earned, they owed $130 in debt. (View Full Video)