Beware of getting caught in the credit card traps being created by our financial system.

Buying something using a credit card is not bad, IF you have the income to pay the credit card balance in full when the statement arrives.

However, purchasing things with a credit card because you don't actually have the money, means you are committing your future income to the credit company with the threat of a black mark on your credit rating. That is financial slavery.

Over the past few years, debt consolidation experts have helped many people to escape from the credit card trap with debt reduction programs. That alone speaks volumes about how serious the situation is. Helping people do this is frowned upon by the credit lenders; after all, they lose all that profitable interest. They take counter measures to hook consumers back in by offering 0% percent interest for some period of time.

Are you really getting 0% interest? You are IF you can pay off the whole amount before the time frame is up. What they are hoping is that you will NOT have the ability to pay it off.

If you can't pay, what happens then? Carefully read the fine print details on their 'Terms and Conditions' service agreement. Many agreements have a relatively low interest rate in large type; typically it is 9.99% to 12.99%. But, watch out for variable rates, meaning it is the 'lower' rate PLUS the 'prime rate.' The prime rate is what the banks are charging the credit company which then gets charged to you. This can add a whopping 6 - 9% on top of that seemlingly low interest rate.

Read further and the rest of the trap is revealed. If you miss a payment or are late, they have the right to increase the interest rate to as much as 39%. IN ADDITION, they get to add an additional $25 - 39 late fee. On a $1,000 balance, that is $52 - 66 a month in interest and fees you must pay before you ever get to pay the first dollar of the price of the item you charged.

What else do the credit companies have in their arsenal of weapons to make sure they continue to make interest money from you?

That enticing 'minimum payment' they offer which is mostly interest, and hooks you into a payment plan that will take you 20 years to pay for what you bought. In addition, they are now inviting you to get money back from retailers or earn airline miles for each dollar you spend.

Who pays for that? Right! You do! The credit companies charge the stores for the cash they give you back, and the stores raise their prices to cover the cost.

The credit companys pay the airlines a tiny amount for each airline mile they 'give' you when you charge an item on the credit card. On January 1, 2007 in an NBC TV news interview, the president of a major airline said it only costs the airline industry $10 to fly you somewhere when you have charged enough to earn 25,000 air miles to take a flight.

Who actually benefits financially if you charge up your credit cards to earn a 'free' flight? It should be obvious that trap is disguised as a huge benefit to you.

Sandra Simmons, President of Money Management Solutions, has years of experience helping business owners and private individuals manage their income to achieve their financial golas. To find out about the Money Management Software she created, watch the FREE 5-minute demo video on her website at www.MoneyMgmtSolutions.com