Comments on: The Credit Card and Society http://www.canajunfinances.com/2005/07/23/the-credit-card-and-society/ Personal Finances and Consumer Concerns, essays, stories, examples and how to articles with a distinctly Canadian Point of View Wed, 19 Nov 2008 12:22:40 +0000 http://wordpress.org/?v=2.6.3 By: Canadian Personal Finance Blog » Blog Archive » Credit Card Rants http://www.canajunfinances.com/2005/07/23/the-credit-card-and-society/#comment-1956 Canadian Personal Finance Blog » Blog Archive » Credit Card Rants Tue, 22 Jul 2008 18:53:03 +0000 http://www.canajunfinances.com/?p=102#comment-1956 [...] stuff that I have ranted about over the past few years, and I tripped across the following post  Credit Card and Society, which I agree with completely, I just wish I’d follow my own [...] [...] stuff that I have ranted about over the past few years, and I tripped across the following post  Credit Card and Society, which I agree with completely, I just wish I’d follow my own [...]

]]> By: uao http://www.canajunfinances.com/2005/07/23/the-credit-card-and-society/#comment-83 uao Mon, 25 Jul 2005 02:35:00 +0000 http://www.canajunfinances.com/?p=102#comment-83 To answer the question you pose at the end, a lot of people are going to be crushed into dust. The average American has something like $9000 in credit debt at a given time.<br/><br/>Even at low interest rates, I know people who are barely keeping their head above water by paying off minimum balances. When they miss a payment, their credit rating takes a hit, and then their minimum payments consist of even higher interest.<br/><br/>I used to be careless, but some hard knocks wised me up. A fool and his debt are soon compounded. To answer the question you pose at the end, a lot of people are going to be crushed into dust. The average American has something like $9000 in credit debt at a given time.

Even at low interest rates, I know people who are barely keeping their head above water by paying off minimum balances. When they miss a payment, their credit rating takes a hit, and then their minimum payments consist of even higher interest.

I used to be careless, but some hard knocks wised me up. A fool and his debt are soon compounded.

]]> By: cvrk http://www.canajunfinances.com/2005/07/23/the-credit-card-and-society/#comment-82 cvrk Sun, 24 Jul 2005 16:09:00 +0000 http://www.canajunfinances.com/?p=102#comment-82 Credit cards are temptations and makes you spend on items which you would have avoided. But still as you say, can we escape it? Credit cards are temptations and makes you spend on items which you would have avoided. But still as you say, can we escape it?

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