Posted on 09/21/2022 7:35:54 AM PDT by ChicagoConservative27
More Americans are taking on credit card debt as skyrocketing inflation for basic necessities continues to burden families.
In a recent survey from CreditCards.com commissioned by YouGov, 60 percent of Americans have been carrying monthly credit card debt for at least 12 months –– a ten percent increase from 2021.
Furthermore, 40 percent of those who carry balances say they have been doing so for at least two years, 28 percent for at least three years, and 19 percent for at least five years.
The survey also shows that 59 percent of American credit cardholders earning less than $50,000 carry a monthly credit card balance.
The percentage decreases to 49 percent for those earning between $50,000 and $80,000 and 46 percent for those earning between $80,000 to $100,000.
(Excerpt) Read more at breitbart.com ...
I want all the debt Joe! Give it to me! Free your constituents from their burdens.
Americans are stupid. They will deficit spend until they are completely cut off from new funds and then they will cry like newborns to the federal government.
I have real disdain for many of my fellow citizens.
A huge chunk of the credit card debt is sub-prime. Stupid banks better not ask for a bailout.
If he really wanted to actually help people he would ask credit card companies to limit the interest. Some folks can barely pay the minimum. With 17% and higher rates it like owing money to the company store.
If he really wanted to actually help people he would ask credit card companies to limit the interest. Some folks can barely pay the minimum. With 17% and higher rates it like owing money to the company store.
Traitor Joe owes those of us without student loans 10K for our credit cards
Americans are stupid. They will deficit spend until they are completely cut off from new funds and then they will cry like newborns to the federal government.
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It worked for big banks getting a bailout in the GFC, so people are just following suit.
American consumers have learned NOTHING in the up and down cycles of the US economy, whether it be over the last 10 years, or the last 50 years.
Budgeting is an unknown tool in many households, and people have no idea of the difference between wants and needs.
Savings rates are low, if they exist at all, many households have little or nothing saved for retirement as individuals pass into their 50s.
Emergency funds do not exist, and repairs, whether they are for automobiles or housing, cause many to borrow at the near usurious rates of major banks.
Many banks have issued beaucoup subprime auto loans to people who can’t afford two, let alone one six year car payments. We pay cash for cars after saving for them, keep them at least 200,000 miles, buy used if possible before looking at new.
Many have been caught unawares because they were not paying attention, and probably do not pay attention ever.
Yes, Bidenflation hurts, but this is probably not the end of the world. Might seem like it to some.
It will take a while to bounce back from this one as a country.
I have heard a rumor that you should be nice to those in charge when you post threads, it is thought the FBI is a little out of control. Just relaying what I have heard.
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