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Started By
Message
re: Credit card interest rates are surging
Posted on 10/28/24 at 9:51 pm to TooFyeToFly
Posted on 10/28/24 at 9:51 pm to TooFyeToFly
quote:
You early don't know what this is
Explain it for him
0
Posted on 10/28/24 at 10:35 pm to ItNeverRains
quote:
Buy everything on SouthWest CC. Pay it off at end of each month. Haven’t paid for a flight in 5 years and that includes round trip flights to Bahamas twice and California.
That’s a good strategy, but if you switch things up with different airline and hotel cards, the bonuses are pretty damn good.
Posted on 10/29/24 at 12:15 am to Tempratt
quote:
No one on this board carries a balance. How can you not know that?
Current balance negative -66.63. Paying this fricker so hard it can’t keep up
Posted on 10/29/24 at 6:06 am to RLDSC FAN
quote:
Credit card interest rates are surging
I miss the days of some credit cards offering a price protection guarantee, and extended warranties.
Today, I don't know of any card that still offers one or both of these features.
Posted on 10/29/24 at 6:09 am to Tempratt
quote:
No one on this board carries a balance.
The OT continues to defy the norm.
Yet,
quote:
The average credit card debt balance per borrower is $6,501.6 And that’s not a huge surprise, considering we saw earlier that total credit card debt in America has grown by a whopping 27% since the start of 2020.
and
quote:
Just like everything else in the world of credit cards, credit card delinquencies are also on the rise. The current credit card delinquency rate is 3.1%. That’s the highest rate we’ve seen since 2011!8 (That’s not a great record to break!)
This too.
quote:
So, how does credit card debt spread out across the American population? Well, there are around 215 million American adults with at least one credit card, and 48% of those with a credit card carried a balance at least once in 2022.4,5 So, roughly 103 million Americans have credit card debt!
A Ramsey Solutions research study also found that almost 40% of Americans rely on credit cards to cover their basic monthly needs, and 1 in 4 Americans have maxed out a credit card in the last 90 days. With so many people using credit cards to survive, it’s no wonder credit card debt is shooting up so fast.
Ramsey Solutions - Don't Ignore the Facts
Posted on 10/29/24 at 6:51 am to RLDSC FAN
There will need to be some protections in place by congress for interest rates. When half the population (or more) doesn’t have an extra $1K for a basic emergency because they are living off credit, that’s a big problem.
CC companies are essentially vultures in suits.
CC companies are essentially vultures in suits.
Posted on 10/29/24 at 7:00 am to RLDSC FAN
The only credit card I have in my Amazon card. I almost never use it. It is for emergencies, like when my bank put a hold on my account while I was on vacation because of an error on a hotel website.
Posted on 10/29/24 at 7:04 am to Locoguan0
Im sorry you’re missing out on free money/rewards.
Posted on 10/29/24 at 9:11 am to RLDSC FAN
quote:
be smart with your credit card purchases
just don't carry a balance
Posted on 10/29/24 at 9:20 am to Tempratt
quote:
No one on this board carries a balance.
I mean you have to be a fricking moron to carry a balance
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