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4 • What was the Real
Purpose of Credit Cards?

Debt cards

Your money is safe in your bank but unprotected in your pocket, so Credit Cards were merely meant to provide a safe mobile purchasing convenience! Credit cards give you the handy ability to carry the maximum purchasing power of all your cash, securely without worry of loss, so you don't have to make special trips to the bank to get cash when you need to buy something. So security and convenience especially in times of emergency is the prime purpose. Credit cards only give you credit for your expected ability to pay with cash! Since credit card companies (even with bank cards) can't breach privacy law, the credit card operations don't know what cash you have in the bank; this means your credit worth is assessed according to your payment history. Without knowing how much money you actually have, this credit rating determines the maximum buying power a creditor will give you to walk around with on a card. People may think a credit card is meant to be a loan, but it is NOT, because that would make it a debt card! This loan assumption is a dangerous path to debt prison. Credit card companies want you to believe it's a loan because they make profit by renting you money and that idea will harness you to pay a percentage of your income in fees forever! When using credit worthiness as a loan you are willingly signing up yourself into high ongoing costs that will drain your life of spendable cash and make you a debt slave.

When you Understand Credit, You will have Great Credit!