Suggestion Box

[Trix]

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@RespectLife wrote:

I would tend to say that if most American's can't pay off their credit card in full each month, it is because we are buying things we can't afford AND do NOT need.

While I am sure there are some that must use a credit card each month to get through, I doubt it is the majority of credit users.  As Americans, we sometimes are simply use to buying what we want, when we want.

I highy doubt anyone is using the Q card to sustain themselves, so the 28% interest is on ME, if I can't budget better.

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@RespectLifeThe banks and credit card companies which have data which they openly report in financial news and publications that shows most of their credit accounts are not paid in full each month.  I completely agree with your reason why this may be and can only add that I hope we do one day return to a society where credit is used for emergency necessary purchases, not wants and whims for $300 handbags and shoes. 

Maybe cash should make a comeback because I know some folks who did a lot better with their money when they handled cash, or wrote out a check before handing their money over to a store or service provider.  They don't give much thought to how much Swiping against a line of credit some of these people don't give much thought to how much is being spent until even the minimum payments due on the accounts are overwhelming to pay.  I know those people should really use debit cards, but then companies like Comenity and Synchrony eagerly extend store cards to them and their "must have more mindset" convinces them it's ok to use the store card.