Clark Atlanta University - Panther Yearbook (Atlanta, GA)

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Have Some Common Cents! | By Kerin Co an CO.WRIBITISC WRITER So ou tic « coMcgc Modctil Belteryet. youarca trend)eo true »i«5cnt You keep up with treed» in (a»hiun. acccvvotic». home idea». etc f»ci where you lorn »o»i ee nothing but trend» Like moM cclkge m odrntvyou can't «(fold e»er trend) thin» you »ee What 1» theamwet toyout money peoblcm ’ W hat cjnynudo' Roh « bank No You re oit to America'» la»c r»ic pa.umc You charge it’ Ye», you duipe it I ike an addiction. you charge and Charge ard charge Helore too long j»j are up to our cyehall» m debt You are dcltoquem in our payment» to you creditor. You are o»er your credit limit And lact bui not !ea»t. the inteCCM charge» arc dc»curing any attempt» to pay oft your account Some cl you ha»e already ccpecicnccd the peni» of credit card», but mon ol ouha»eool You ha»e not been caughi in the credit card web »d dclinoacnt payment» and overblown balance» Like An Addiction You Charge Ana Charge And Charge IIIM. let’» look al interc»i» rate» Intere»t rate» can range Irom 10 and one-oghlh percent to W H percent I he latter n :be lateievt rate applied to Citibank credit card account». According to William Rohtmon. a collector lot Citibank. Citibank ha» one ol the highev. rale» ol any bank creditor The bank» make money from thc»c rate» I he more you borrow or charge, the more money they make Another way creditor make» money 1» from the card holder'» delinquent payment». A creditor make» money whtn yivuare late wvtha payment On the average. 10 to 1$ percent ol all delinquent card holder» ate college eludent» When a payment i» not received on nine, a late charge ■» oticn applied to the account Kor example. Citibank applic» a S10 laic Ice to delinquent payment» thal arc mote than two month» overdue Alto, neter pay lewlhan the minimum amount due In»:tad ol vtabi'.i ing or upgrading your account, you arc vteadily going deeper and deeper m dcbl Whatever the amount, the unpaid port ion of your bill n added lu (he next billing creating a larger total due So. unie»» II » an emergency- would be wue to think tw-.ee before u»mg credit card» I I I 12