"Serious" Credit Card delinquencies Hit Highest Level in 14 years.

Women hold 80% of credit card debt. There is a reason they were banned from having them 50 years ago.

This makes me want to buy guns on the credit card. I sometimes wonder why some of us have willpower and others seem not to.

Prob buying clothes they will wear once and shite off Amazon they don’t need.

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I have told my teenage kids that the worst mistake my wife and I made as a young married couple was using credit cards. It took us 15 years to clear our credit card debt and when we did it was a freedom I had not felt in a long time.

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I told my kids the same thing. Tools of the devil. The only card I have is one I can use in the event of an emergency or car trouble (flat tire, dead battery, etc.) and, if used, it gets paid asap.

This is going to catch up with the American middle class at some point.

Booking 30 year mega mortgages in their 40's... 7 year car loans... 5-figure credit card balances, and still spending huge money on lavish vacations, golf carts, boats, private schools, etc... These people will never be able to retire.

:itshappening.gif:

I've talked about this inevitability ever since the COVID fiasco ran up inflation. GDP growth has become completely dependent not just on consumer and federal debt, but escalation consumer and federal debt.

The canary in the coal mine, at least to me, has been car loans and credit cards. The next is bankruptcies.

With the economy so incredibly dependent on continued debt, a consumer debt bubble popping would bring about a very strong recession which would also last a long time. Consumers losing access to credit in such an environment necessarily slashes economic activity.

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Women hold 80% of credit card debt. There is a reason they were banned from having them 50 years ago.

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Women couldn’t open a checking account without a parent or husband until 1972.

Peter Griffin: “Hello, is the man of the house there?”

Female Voice: “This is the Woman of the house!”

Peter Griffin: “Yeah? Who’s paying for this phone, then?”

I only use mine for convenience and pay the balance off each month.

Honestly, you might as well run it up because others will. And when the reckoning comes your life will suck equally

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I’ll never understand how people carry a balance on their credit card.

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“Complete purchase”