Spending and inflation have sent credit card debt soaring to a record high of nearly a trillion dollars, and credit card companies are offering perks to try to get more people to sign up. Javier E. David, a CBS News contributor and the managing editor for business and markets at Axios, joined Vladimir Duthiers and Anne-Marie Green to discuss what customers need to look out for.
#news #economy #inflation
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Yeah, they give you a huge discount, for the first 6 to 12 months. Then they jack up the interest rate, to where you can't pay them. I have been on disability since 2016 an lost most of my income. Been using them to survive on. What is fun??
Ask Biden for a new debt forgiveness program
The best thing to do with credit cards is to cut them up and put them in the trash!!
Making money is an action. Keeping money is behavior. Growing money is knowledge..
Nobody should be carrying balances on a credit card
No debts, credit, or credit cards since 1984. Watching those that laughed at me living within my means nearly 40 years and now they are getting their comeuppance.
Just don't do it! ??????????????????
I got a card that returned $200 after spending $600. After paying for the cellphone, gasoline for my car and groceries I had to catch myself not spending more than the $600. Plastic doesn't hurt like letting go of CASH.
Most smart American max it out then file bankruptcy so they don't have to pay back anything! Works great I've seen it happen.
Jerome Powell and China ruined this country ????????????
"They can't cut the credit, because unfortunately if you stop making good loans, then how are you going to pay for the bad loans? Because each bad loan takes up a profit of 10 to 12 good loans." – Shailesh Mehta, fmr. CEO Providian Financial, The Card Game, July 7, 2009.
"It's 'market will bear,' you know? And there are always some desperate people who will take the product. Lending money to people is never a difficult exercise, OK? People will take money if you're willing to give [it to] them. …"
— Shailesh Mehta, fmr. CEO of Providian Financial, Frontline The Card Game, July 7, 2009.
The Wall Street Journal had an article today to refute Biden's now ridiculous claim of being a budget hawk. The total debt when for the Trump admin was $61 trillion and change. The Biden Administration has already brought that total to $79 trillion or roughly a 30% increase in two years. Democrats printed free money and Americans spent it. Now you we get to live with the results.
Don’t pay annual fee, pay off your balance to stay out of trouble
I'm 28, earn $112k+ and never wanted a CC. I was forced to get one when I couldn't get a rental car after a crash. I needed my aunt's CC even though I make significantly more than her. I was so embarrassed and annoyed. Thus I got one and use it just like a debit card. Chase Sapphire preferred. With the bonus and the year of normal spending i now have over $1k in points. May get an Amex, past that no more CCs. I pay them off weekly.
I prefer to pay cash for everything. Gas stations have begun to charge more per gallon if I pay with my debit card than if I pay in cash. I will use my debit card to get money out of the bank to buy gas from now on. I don't like high interest rates. I would rather go without than pay more in interest for goods and services than they are worth.
This makes no sense!! Why would these companies try to get more customers who won't pay up?? Stupid.
Unless it's an emergency, don't charge it if you don't have the money. Never carry a balance and the cash back is free money.
Not a good thing. Personal bankruptcies will eventually go thru the roof. Believe that. Then increased mortgage defaults will follow suit. Remember I told you so.??????????????????
Kind of like how casinos give out free rooms and comps to lure in gamblers.
people should avoid credit cards. they’re always predatory.
You dont need credit card to live.
We have no chance ????????????
The deep states plan to bankrupt all Americans is right on schedule. Fooking scumbags.