Americans have a credit card debt problem
Americans have a credit card debt problem
Credit card debt was the most common form of debt among U.S. adults, according to a survey conducted for Newsweek.
"According to exclusive poll data from a survey of 1,000 employed Americans conducted by Talker Research for Newsweek, 68 percent of respondents reported having credit card debt."
Sure, that doesn't mean it's PROBLEMATIC debt though. Somone with 3 credit cards who pays them off every month is going to have debt mid cycle, sure. How much of that 68% is having trouble PAYING the debt, that's the real question.
The article refers to "credit card balance", which aligns to the standard industry statistic of whether a consumer carries a balance (doesn't pay off their card in full each month, pays interest, gets hosed, is incredibly profitable for banks) or doesn't (what the credit card companies refer to as a "deadbeat" as they don't generate much profit and some even are a loss.
That said, who cares about a selection bias volunteer survey with the sample size of an Elememtary school? 1,000 people, seriously? The hell is this 1925? Bullshit non-data and article.
Yes, I put everything on my credit card and get miles I can use to fly business class. I have credit card debt at all times, I'm just paying off last month's expenditures on time so I don't pay interest
Yup. Same here, I have multiple cards and cycle through my purchases so no single card builds up too much debt, I collect the points and pay them off.
Earned a nice treat for myself cycling my kids tuition through my Amazon card. :)
Credit score is 804 so I must be doing something right!
Yeah