Credit Cards Gotchas: New and Improved Tactics for Accelerated Profits

Debt counselors are now getting calls from confused and desperate consumers spouting interest rates of 27% to 33% who are looking for credit card debt help.

"Consumers are really being hit hard by outstanding credit card debt and some of the interest rates verge on being usury," says Howard Dvorkin, founder of Consolidated Credit Counseling Services, Inc. "People need to have credit card debt terms spelled out for them in easy to understand language.

More than half of consumers who carry credit card debt want customized disclosures on their monthly bills explaining how many years it will take to pay off the card if only the requested minimum payment is made so that way they have a clear idea of how long it will truly take to get out of debt," he continued.

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