Is that because they have such high credit limits?
I can pay off one credit card with another and in the meantime fill out requests for more credit cards. It’s called a revolving credit strategy. Everybody gets paid but I have a bad feeling someday somebody’s going to take in the shorts.
Generally, a consumer's slide into insolvency occurs in several stages. First, the card holder reaches a point where they cannot pay their monthly expenses make the minimum payments on the credit cards from their wages. Next, they begin using their credit cards to purchase necessities, like food, clothing, medical care, and use their wages to make the minimum payments on their cards. Their debt increases as they are adding more debt to their cards and, eventually, they reach a point where their wages can no longer cover even the minimum payments. The solution is often then to get more credit cards and take cash advances to make the minimum payment of the older cards. Ironically, this is sometimes easy, since they are current on many accounts, they have better credit than ever. Finally, the whole debt pyramid collapses, either from the clerical burden of sending out so many payments or the psychological stress of owing such a staggering amount of consumer debt.