Credit card debt smashed another record high at the end of 2023

foxbusiness ^ | 02/06/2024 | Megan Henney

[cyclotic]

I just ordered a rooftop tent/truck bed shell. I had to pay in full upon ordering and it was required to pay be credit card. It wasn’t a small purchase (about $7,000) so I was surprised they wanted a CC with the fees they’ll pay.

[CottonBall]

“ Don’t ever finance any expense or purchase of planes, boats, fuel, or maintenance on a line of credit.”

I only put on any of our cards, but we can pay off the end of the month. Actually, we’re near retirement so we have enough in savings. We can pay most anything off. I haven’t had any charges on a credit card yet. Although I know they’re still making that 3% on my purchases.

I started this a long time ago when I didn’t want to have to write checks for every purchase. Decided to use credit cards where I could and just write one check the end of the month, one for each card anyway.

Your son bought a house on your AMEX, that is so funny! I never would’ve even thought of doing that. Of course I didn’t know what a charge card was until today. Thank you for that.

[Zathras]

I took a uber ride today.
Driver was talking about all her customers who were struggling with inflation and job loss.
This never happened under Trump.

[EVO X]

I have a few credit cards. My CU card rate hasn’t changed in years. It is still at 10%. I have a couple of airline mile cards via a money center bank. As soon as inflation got nasty, those rates went from ~15% to well over 20%. WTF!

[cyclotic]

I have no clue what my rate or credit limit is. I do use cards but pay them off every month

[EVO X]

What I find amazing is my CU credit card interest rate has remained stable at 10% while my airline miles cards have jumped from 15% to 25% during the last couple of years. I pay all my bills on line, but rate changes do show up in snail mail..