Get Adobe Flash player

Do you give yourself and your credit card enough credit? (Bankruptcy attorney David Lozano sheds a little limelight on the subject!)

It is probably safe to say that the majority of Californians are credit cardholders. The U.S. Census Bureau recently collected data on the number of credit cardholders there were in the United States and found that there were 159 million in 2000 and 176 million in 2008. With this data, they then estimated the count for 2011 to be 183 million. I’d like to think these astonishing figures support the idea that Americans are, in general, becoming more financially responsible!

Getting your own credit card is almost like a right of passage for many young adults. It symbolizes that they are–or at least have the potential to be–financially responsible. When managed correctly, a credit card is a useful and often beneficial method of payment. Some credit cards even come with rewards or cash back on essentials, such as groceries, gas, dining, or travel.

There are many brands of credit cards offered by different companies, but did you realize there are just three basic types of credit cards?–unsecured cards, high risk cards, and secured cards.

An unsecured card is most commonly offered to individuals with a good, solid credit history. These cards do not require cash deposit and have no collateral loans. High risk cards often go to people who have a slightly less polished credit history. These cards tend to have an activation fee, annual fees, and late payment penalties attached to them. The last type is a secured credit card, which comes with steep annual fees and late payment penalties. This type of credit card functions similarly to a debit card in that you need to have a certain amount of cash in an account as “insurance”.

When it comes to credit cards, there are many options out there. But no matter what type of credit card you have, as a bankruptcy attorney, I am equipped to handle any type of credit card debt you may have. Contact me for a free consultation on settling your credit card debt!

David Lozano, Attorney at Law
Contact me today for a free consultation
800-974-5680/Se habla español

Photo credit

The Law Offices Of David Lozano - Bankruptcy Attorneys - Bankruptcy Lawyers.
Las Oficinas Legales de David Lozano - Abogados - Abogado de Bancarrota At Law - Hablamos español

Los Angeles County

  • West Covina

  • Baldwin Park

  • Pomona

  • Lancaster

  • Palmdale

  • Downey

  • Pico Rivera

  • Santa Monica

  • Montclair

  • Claremont

  • San Dimas

SAN BERNARDINO COUNTY

  • Ontario

  • Fontana

  • Rancho Cucamonga

  • Rialto

  • San Bernardino

RIVERSIDE COUNTY

  • Riverside

ORANGE COUNTY

  • Anaheim

  • Santa Ana