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An inviting trap created by our modern-day financial system, credit cards can be harmful to you financial health.

IF you have the money to pay off the credit card when the statement arrives, using the card is not bad.

But, purchasing things with a credit card when you don't have enough money, is simply committing your future earnings to the credit company under the threat of a bad credit rating. That is financial slavery.

Over the past few years, financial experts have assisted many people to escape from the credit card trap with debt relief plans. That says a lot about how bad the situation is. Helping people do this is not looked on favorably by the credit lenders; they lose all that profitable interest. The credit companies take counter measures to hook more people 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 in advance of the expiration date of the offer. What the credit company are hoping is that you will NOT have the ability to pay it off.

What happens if you can't pay? Carefully read the fine print details on their 'Terms and Conditions' service agreement. Most agreements have an attractive interest rate in big print; typically it is 9.99% to 12.99%. But, many rates are variable, meaning it is the 'attractive' rate PLUS the 'prime rate.' The prime rate is what the banks are charging the credit company which then gets charged to you. This alone can add a whopping 6 - 9% in interest on top of that seemlingly low interest rate.

Read further and you'll see the rest of the trap. If you pay late or miss a payment, the credit company have the right to increase the interest rate to well over 30%. PLUS, they are allowed to add an additional $25 - 39 late fee. On a $1,000 balance, that is $52 - 66 in monthly interest and fees you must pay before you ever get to pay the first dollar of the price of the item you bought with the card.

What else do the credit card companies have in their tool kit to make sure they continue to make interest money from you?

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

Who do you think is paying for those credits? Right! You do! The credit companies charge the stores for the cash they give you back, and the stores raise the price you pay.

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. In an NBC TV news interview in January 2007, the president of a major airline said that it costs the airline industry $10 to fly you somewhere after you have earned 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.