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re: US consumers with prime credit are starting to slip on payments

Posted on 8/26/25 at 2:03 pm to
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
35709 posts
Posted on 8/26/25 at 2:03 pm to
quote:

Club super prime checking in.


Same here, 816, zero debt of any kind to speak of
This post was edited on 8/26/25 at 2:05 pm
Posted by Mid Iowa Tiger
Undisclosed Secure Location
Member since Feb 2008
23438 posts
Posted on 8/26/25 at 2:16 pm to
quote:

Prime customers have credit scores between 661-780

Is this really a shock?


That 661 is prime? Yes.
Posted by chalmetteowl
Chalmette
Member since Jan 2008
53383 posts
Posted on 8/26/25 at 2:18 pm to
Cant they just put in a few extra shifts?
Posted by Cage Fighter Trainee
Member since Aug 2024
242 posts
Posted on 8/26/25 at 2:21 pm to
Slacker...850 checking in
Posted by GrassyKnoll556
Member since Feb 2025
322 posts
Posted on 8/26/25 at 2:24 pm to
quote:

Harris probably won every state outright except for Louisiana and Mississippi counting legit votes. But Republicans stuffed the hell out of the ballots and cheated to get Trump back into the White House.


And even with all of that, we still couldnt get Trump to that 81 million vote mark that Biden had during a time in which the entire country was locked down.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
57619 posts
Posted on 8/26/25 at 2:31 pm to
quote:

46% carry a balance.


The average interest rate for carrying is somewhere just over 24%. Those consumers which continue to generate more debt become more and more likely to become delinquent.

Credit card delinquency rates are still low (and have been trending downward), but the sheer amount of consumer debt out there means that if we get a recession then that number is going to shoot up under the weight of those high carrying costs. As those consumers lose access to credit, the economy will slow even more.
Posted by DaleGribblesMower
Member since Dec 2013
6561 posts
Posted on 8/26/25 at 2:32 pm to
I’ve always wondered why old people even bother. If you own your own then just stop paying everything else
Posted by DaleGribblesMower
Member since Dec 2013
6561 posts
Posted on 8/26/25 at 2:32 pm to
Stop taxing the ever loving shite out of them and sure
Posted by Tigerfan1274
Member since May 2019
4412 posts
Posted on 8/26/25 at 2:35 pm to
quote:

As those consumers lose access to credit, the economy will slow even more.


Agree. Debt, in particular credit card debt, has been propping up the economy for over half of a decade.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
35709 posts
Posted on 8/26/25 at 2:43 pm to
quote:

Slacker...850 checking in


Perfect score

I gotta get more credit cards or something.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
35709 posts
Posted on 8/26/25 at 2:44 pm to
quote:

I’ve always wondered why old people even bother. If you own your own then just stop paying everything else


Probably because they have dependents or people they love and want their estate to go to them and not the lien holders. Or that they're generally moral and pay back their debts.
This post was edited on 8/26/25 at 2:45 pm
Posted by ronricks
Member since Mar 2021
10709 posts
Posted on 8/26/25 at 2:46 pm to
quote:

When people start defaulting on their credit cards en masse, that’s going to be the domino that kicks off the next financial disaster


Been hearing this for over three years now. Hasn’t happened.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
57619 posts
Posted on 8/26/25 at 2:56 pm to
quote:

Agree. Debt, in particular credit card debt, has been propping up the economy for over half of a decade.


Want to see something scary? Compare the federal deficit each year since COVID to the growth of GDP each year. Of the 5 years, 3 have had deficits greater than GDP and one year they were nearly equal. This means our economy has become extremely dependent on the federal government creating at least ~$1.8T in debt or more each year just to have moderate growth.
Posted by chalmetteowl
Chalmette
Member since Jan 2008
53383 posts
Posted on 8/26/25 at 2:59 pm to
quote:

Stop taxing the ever loving shite out of them and sure


Trump said no tax on OT
Posted by Gee Grenouille
Bogalusa
Member since Jul 2018
7421 posts
Posted on 8/26/25 at 3:01 pm to
quote:

Most Americans have far less buying power than we did just 5 years ago


I believe in a divine power that protects me from my own stupidity. January 2023 i was sitting on the shitter at work and a light bulb came on. I was sitting on 150k in equity in my house, and could move to a nice neighborhood for around 200. We sold it all. If it was financed, we sold it. Two years later I know someone was looking out for me.
Posted by sosaysmorvant
River Parishes, LA
Member since Feb 2008
1457 posts
Posted on 8/26/25 at 3:03 pm to
quote:

I think this is what we all know, and have all been expecting to happen any day now since 2021.

It somehow has refused to happen.


So much this!
Posted by ragincajun03
Member since Nov 2007
27100 posts
Posted on 8/26/25 at 3:03 pm to
quote:

Slacker...850 checking in


Tree Fiddy here, baw.
Posted by FLBooGoTigs1
Nocatee, FL.
Member since Jan 2008
58493 posts
Posted on 8/26/25 at 3:06 pm to
quote:

while super prime customers have scores between 781-850


Subtle brag thread

Checking In
Posted by jclem11
Chief Nihilist
Member since Nov 2011
9508 posts
Posted on 8/26/25 at 3:08 pm to
839 checking in with only debt being a mortgage at 3.6%.
Posted by jclem11
Chief Nihilist
Member since Nov 2011
9508 posts
Posted on 8/26/25 at 3:14 pm to
quote:

could move to a nice neighborhood for around 200


Where the hell do you live that a nice neighborhood has houses for $200K?
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