A report from the Philadelphia Federal Reserve also shows a record-high number of Americans are only paying the minimum monthly payment on their credit card bills, peaking at nearly 11% of all accounts in the third quarter of 2024. Ted Rossman, senior industry analyst at Bankrate, joined CBS News to discuss the issue.
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Dear God when they’re charging an interest of 30% because of the federal reserve, what do you expect wages aren’t going up people are losing their jobs massive inflation. This is despicable.
Yikes and that’s compound interest too. Hope it was worth it…
Isn't bidenomics great ????????
Why do they borrow so much money if they can’t pay it back? Very weird place. ????????
In 2019 when Politicians started selling off their stocks , we knew something was going to happen , we paid all of our cards off and paid insurance for a year in advance sold our 2 newer vehicles and bought older ones (no payments) and sat back to watch . The Pandemic was announced in The US and BOOM ! Next The flood gates were opened and all the Illegals came and further smashed our economy and The Recession was in full swing . Now many people we know are in a sad financial state and are just paying the minimum on everything to stay above water . Hopefully The Recession will end in the next year or two and things can start to get back to normal .
If you are paying interest on credit cards, you shouldn't have a credit card.
??????????????? Moreover, brethren, I declare to you the gospel which I preached to you, which also you received and in which you stand, by which also ???????????? ???????????? ????????????????????? , if you hold fast that word which I preached to you—unless you believed in vain. For I delivered to you first of all that which I also received: ???????????????? ???????????????????????? ???????????????? ???????????? ???????????? ???????????????? ???????????????????????????????????????? ???????? ???????????? ????????????????????????????????????????, ???????????? ???????????????? ???????? ???????????? ???????????????????????? ???????????? ???????????????? ???????? ???????????????? ???????????????????? ???????? ???????????? ???????????????????? ???????????? ???????????????????????????????????? ???????? ???????????? ????????????????????????????????????????. …1 Co 15:1-4
When you have to be in debt to build credit to buy anything is the real problem. A house, car and anything else really shouldn't be a freaking arm and a leg away from owning. The people of this country are idiots for letting corporate banks do this to them.
Everybody should stop paying their credit cards immediately. The more people that don’t pay the sooner the bank goes under, and you don’t owe any money to anyone. It’s time to bring this entire corrupt system to a halt by any means.
Good information to know ????
Dun worries, trump will help you all!! ????
Thanks to Biden
This is what happens when public schools fail to teach the important things, like personal finance, and instead choose to teach destructive socialist and Marxist garbage.
Capitalism must end
Credit card companies love it.
Stop paying your unsecured debt if you do not own real property or have any assets. For gods sake dont take out new loans to pay old debt.
Seniors and disabled contact HELPS non profit law firm.
Americans, don't worry. We have a new administration, so everything will be great. Eggs and rent will be decreasing, giving you more money to apply to credit card debt. And I have beachfront property available in Oklahoma.
Credit card buying is a double-edged sword.
Buying stuff is good for the economy.
Buying stuff you don't really need and can't really afford is not good for the economy.
If everyone made homemade gifts for loved ones for the holidays, the retail economy would collapse and layoffs would ensue.
I always pay extra