There are economists who have debated that there are results to show that the credit card debts of many households have been increasing at the rate of three percent over the past five years. However on the other hand the financial analysts so show that the lower credit card balances of the senior citizens who belong to the low as well as the middle income groups have been raising at a level that you would never think so. This is at about twenty six percent. This may be shocking to many. But yet this is true. There are causes that are most likely for this increase in balance rates. One of these causes may be the gap that has widened the health care costs as well as the coverage of insurance.
This has forced some of the senior citizens to pay for all the medical expenses of theirs through these credit cards. Another reason may be the finance charges being higher that are mainly caused by the interest rates that have been rising unbelievably. This may also be due to the expiration of all the promotional offers. Yet one more reason for this increase is the sudden jump in the prices of the energy. This is a cause for the senior citizens to make use of their credit cards at a rate that you would never expect them to use it at. The credit card now acts like a safety net and this is why there are more people who are turning to these plastic cards for their basic minimum essentials in life. For all those citizens who are cashing out to cover the revolving debt they might actually find themselves to be jeopardized as they are falling into the values of real estate and hence shrinking their portfolios.
With the level of the gas prices also increasing, there are these gas rebate cards that capital one has come out with to help you deal with these situations. It is good that you read all the terms and conditions of the capital one gas rebate credit card before you apply for one. Once you have opened an account you get a rebate of about six percent on all gas purchases. This however lasts only for the first ninety days of opening your account. After these three months slowly your rebate drops off. This is still not bad either.
This is because our rebate rate is at three percent after these initial three months. Now capital one has also other gas rebate cards that are made especially for you. You can check the many rebate cards that are available to make your decision in getting the card that suits you the best. Now you have to be careful as the rebate rate keeps dropping after a few months. It will not stay at three percent for ever and fall down to about two percent sooner or later. Hence it is up to you to make the right decision in choosing a rebate card.
