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BlogBlogDon’t Max Out Your Credit Cards: There is Another Way

Don’t Max Out Your Credit Cards: There is Another Way

Credit Card BurdenIf you have credit cards, you know that it can be tempting to use them…especially if you have unexpected expenses or dealing with medical bills, major home repairs or even legal fees. However, maxing out your credit cards can be a very bad idea and could affect your credit score for many years to come. Most people assume, when they have credit cards, that if they max out their cards they can pay them back…unfortunately this isn’t the case for many, as something always seems to come up. Here are some reasons why you don’t want to max out your credit cards:

Higher Payments

One of the reasons you won’t want to maximize your credit cards is because you will have higher payments each month. This, of course, will put more of a strain on your monthly budget. Though you may be able to handle the $100 a month you may have on your $5,000 in credit card debt right now, maxing it out to $25,000, for instance, will push your payment to $500 or more each month. That could be troubling.

It Will Affect Your Credit Score

You will also find, when you max out your credit cards, that it will have a detrimental effect on your credit score…and this is not a situation that you want to be in. One of the biggest factors that your credit report is based on is your available credit. If you max your cards out, the available credit will plummet…and so will your credit score.

You Will Have a Difficult Time Getting Loans

Finally, when you max out all of your credit cards, you will have a much more difficult time getting most loans, again, not something that you want to have to deal with, especially if an emergency situation comes up.

You may have noticed, above, where it said “most” loans. There is at least one type of loan that you can get, even if your cards are maxed out. Actually, you can avoid this whole situation by taking out this loan…it is a car title loan and in Florida, you can get one at Embassy Loans. By just using the value of your vehicle, you can get hundreds, and even thousands of dollars to help you out. For more information contact Embassy Loans.



Embassy Loans is a leading provider of auto title loans since 2005

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Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

Monthly Interest Rates range from 1.5% to 2.5% (18% to 30% APR), with 15-18 Month Terms.

No Prepayment Penalties!

Embassy Loans uses “Title Loans” for advertisement purposes only and provides auto equity loans. Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

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Frequently Asked Questions

What is an Auto Equity Loan?

An auto equity loan, sometimes known as a car title loan or a car equity loan, is a type of loan that allows you to borrow money by using your vehicle as collateral. The loan is secured by your vehicle, meaning you agree to use the equity in your car to back the loan. 

What is an Unsecured Personal Loan

An unsecured personal loan is a loan that does not require collateral. Funds are provided based on your credit worthiness and your ability to repay. 

What Is the Credit Builder Program

The credit builder program is designed to help individuals establish or improve their credit score with the primary purpose of building a positive credit history through regular payments.

Can i have more than one Loan at a time?

Embassy Loans can only extend one loan at a time and it’s advisable to start with one and focus on making payments in a timely manner to prevent default.

What happens if I miss a payment?

Missing a payment can have negative consequences, including late fees, a drop in your credit score, and potential default on the loan. Consistent, on-time payments are crucial to benefit from the program.