The Skinny On Credit Cards: How to Master the Credit Card Game, Jim Randel, 2009, ISBN 9780981893549

Here is a simple, but not simplistic, look at the world of credit cards.

Beth and Billy are your average married couple who suddenly find themselves with a lot of credit card debt. Billy feels that as long as he pays the minimum payment each month, everything is fine, but Beth is not so sure. Along comes Randel, the author, to explain to them the reality behind credit cards.

Credit card companies want cardholders to pay just the minimum payment each month. That way, they can charge interest on the unpaid balance, raising your overall bill. If that particular ard was never used again, it can take years to pay your total bill by paying just the minimum amount. You will also pay the credit card company more than you originally owe, because of the accumulated interest on the unpaid balance.

Credit card companies can, and will, raise your APR (Annual percentage Rate) whenever they want; the Cardholder Agreement says so. They can also be very sneaky about setting the cut-off time for receiving payments. For instance, they can set the cut-off time for 10 AM, when they receive their daily mail delivery at noon. Even if your payment was received that day, it is still late, which means that they can charge a late fee. College students are a goldmine, because they are probably financially illiterate, and think of credit cards as free money.

What can the average consumer do about it? Pay off as much of your bill each month as possible; forget about paying just the minimum payment. Call your credit card company, and ask them for a lower interest. It could shave months, or years, off the time needed to eliminate your debt. If you have a large debt, look for a one-time infusion of cash to reduce the debt. Consider a low-interest credit card as a place to which to transfer your balances.

This book does a wonderful job at teaching the financial literacy not taught in school. get past the stick figure illustrations, and this book is highly recommended for everyone.

Views: 7

Replies to This Discussion

I think this type of book should be used in schools and colleges etc to teach our next generation not to make the mistakes and get into deep debt.


Need help?





At NetGalley, we like to take a moment at Thanksgiving to thank you for your loyalty and support. We are grateful to have a dedicated community of Book Advocates who love reading and recommending – you truly help new books succeed! By the end of this year, your enthusiasm for reading & recommending will mean […]

Blogger Spotlight – Romance Edition

Blog name: Straight Shootin’ Book Reviews Blog URL: http://www.straightshootinbookreviews.comYour name: Mandy – Str8shooterMLet’s begin with your blogger origin story - how long have you been blogging about books and why did you start?I’ve been blogging for almost two and a half years, which is really hard to believe. It all started in March of 2012 […]

Cover Love – November Edition

November Edition We’ve rounded up five covers we love, and we hope you will too. We’ve also gathered all of your cover votes from this month, and your most loved cover is… THE PASSENGER by Lisa Lutz! Click on each cover to read the full description, request the title, and “Like” the cover if you […]

© 2015   Created by Tarah Theoret.   Powered by

Badges  |  Report an Issue  |  Terms of Service