Almost everyone has a credit card and the debt associated with it. What is worse is that you may start out with a low interest rate. However, the companies are constantly monitoring your credit and if it deteriorates in any way, the interest automatically increases. Most people never even notice for months until they realize that their payments really aren’t making much of a difference in reducing their balance.  Now, at least in the U.S., the credit card companies are required to tell you on each statement that if you only pay the minimum balance how long it will take to pay off your debt.  It is probably somewhere near never!  There are companies that offer to help you pay down your credit cards by renegotiating your debt.  However, this procedure comes with consequences such as paying taxes on the difference and lowering your credit score.  Speaking of credit score, have you ever wondered how they make their selections?  Basically the credit card companies, including banks, have no interest if you are churning cards for bonuses, no fees, no interest, and points.  If you don’t know what churning is they are people who are continually changing their credit cards for everything I just mentioned and move on from deal to deal offered.  The approval process primarily focuses on what has occurred with your credit within the ninety days prior to your application according to Citi Bank.  The obvious item they look for is the individual’s credit score.  Have you ever wondered what factors make up your credit score?  It’s simple.  They are looking for negative information such as bankruptcy, the number of inquiries, and a low utilization ratio.  The utilization ratio sounds ominous however, according to Citi Bank it is how much you spend in relation to your card limit.  The evaluation includes the amount you spend as a total on all of your cards.  Citi said that thirty percent of your total debt on your credit cards in relation to the available credit on the total of all cards is one of the main items they look at.  Obviously, long standing customers have priority.  One important fact is that self-employed individuals’ rarely have their income verified provided that the numbers are inline with the rates for that particular profession.  If you are nice as an applicant on the phone for a new card, there is no consideration for you.  It all comes down to the numbers.  In the era of the Good Gus series credit cards were not invented yet.  The series is available exclusively on Kindle worldwide.  If credit card debt is getting you down, go on the internet and read “Misplaced Trust”  which is available on 24 Symbols, Apple, Nook, Kindle, Kobo, Page Foundry, Scribd and Tolino. It is reasonably priced.