Credit card debt drops 13 percent in ...

Credit card debt drops 13 percent in 2nd qtr to lowest level since ...

There are 4 comments on the Fox2Now story from Aug 24, 2010, titled Credit card debt drops 13 percent in 2nd qtr to lowest level since .... In it, Fox2Now reports that:

The amount consumers owed on their credit cards in this year's second quarter dropped to the lowest level in more than eight years as cardholders continued to pay off balances in the uncertain economy.

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Rune04

O Fallon, MO

#1 Aug 25, 2010
Good job America. Let's drop this down to under $2K. It would be great for the economy.
Kimmie

Saint Louis, MO

#2 Aug 25, 2010
Dont have a Credit Card dont want a Credit Card. If I cant pay for an item when I get it I dont need it.
DEW

Saint Louis, MO

#4 Aug 25, 2010
don't have a credit card and don't want any. my dad alway said that when you have credit card you pay for the item twice. you purchase it on the credit card and then they charge you interest and finance charge and (late fee if you are late)and then when you do make a payment only so much goes toward the purchase and the rest is applied on the finance and interst, which mean next month if you did not pay that purchase off you will be paying the same again until it is pay in full. in otherword if you buy something for thirty the interest and finance charge will be applied which mean the 30.00 purchase is now 35.00and it keep going on til the the purchase is paid off so you can easily end up paying close to 40 dollar for a 30 dollar purchase. so you need to know that they have to make money by letting you have a charge card. so they can keep their card and i will keep my money and pay cash if i want something.

Since: Aug 11

Location hidden

#5 Aug 18, 2011
That's great news. Actually, if credit cards are used properly, there should be no problem. It is supposedly for convenience and safety. I have learned how to use my credit card effectively in order not to deal with so many high interests.

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