Credit card debt drops

Full story: San Bernardino County Sun

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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1 - 9 of 9 Comments Last updated Mar 26, 2014
Beaufort

San Bernardino, CA

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#1
Aug 26, 2010
 
Yeah credit debt dropped because very few can actually obtain credit to run up their cards!
mmunson91762

United States

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#2
Aug 26, 2010
 
Also banks jacked up their interest rates, so customers know carrying too much debt is a very bad idea.

one of my father's cards went from 12 percent to 17 percent over 6 months, my amex blue went from 10.24 to 15.24, but i ended up calling and they ended up trimming it back to 14.24.

The best idea is to pay it off :)
Smart MoneyHelpcom

Los Angeles, CA

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#3
Aug 28, 2010
 
Debt is major reason why most people can't save money.
There are so many ways to get out of debt. But most people need to have there hand held and know what options are out there.
Great article.

Since: Aug 10

Delhi, India

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#4
Aug 31, 2010
 
Credit card debt is something that is common among many Americans since more and more people are becoming reliant upon their credit in order to make purchases. While credit card debt is something that causes problems for many, there are reports that credit card debt for consumers has dropped to the lowest it has been in years.
debts

Kolkata, India

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#5
Sep 15, 2010
 
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Since: Oct 10

Delhi, India

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#7
Oct 11, 2010
 
if you are in a bad debt, not able to pay your credit card debt, here is the best solution
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Since: Oct 10

Location hidden

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#8
Nov 5, 2010
 
Don't be fooled. Anybody that advertises 'the best solution to make yourself debt free' isn't telling you the truth. In reality, getting out of debt is strenuous work. If you are in over your head and simply can't make even the minimum payment, you may want to look into a reputable debt settlement company. Reputable in this case means that they do NOT accept fees before they actually settle one of your accounts. I had a friend with around $16,000 in cc debt, and decided to use a debt settlement company that ended up being a scam. Luckily he only lost about a grand in the company's fees. So, he ended up trying out a different company called Superior Debt Services. Luckily they secured him a settlement for around 60% of the $16,000 card balance. So..anybody who tells you they can make you completely debt free is lying. Even the good companies can in reality only settle for a portion of what you originally owe, not get rid of the entire thing. Anyway, best of luck to anyone trying to get out of cc debt.

Since: Aug 11

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#10
Nov 7, 2011
 
Credit card debt is sometimes inevitable because of economic circumstances. However, if it caused by irresponsible use of credit card, a bad debt credit card could be a solution.
Randee

London, UK

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#13
Mar 26, 2014
 
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