Credit card rates at 21.47%, debt over $1 trillion, inflation pressures intensifying consumer troubles.

Citizen Watch Report ^

[davikkm]

The financial landscape is in turmoil: credit card interest rates have surged to an unprecedented 21.47%, while credit card debt has crossed the $1 trillion mark. Personal interest payments have climbed to over $500 billion, signaling a looming consumer crisis. With excess savings depleted, the consumer's financial health is more vulnerable than ever. Inflation remains deeply entrenched, posing a significant threat to the economy.

[Brian Griffin]

“credit card interest rates have surged to an unprecedented 21.47%”

Did somebody steal Elizabeth Warren’s PC?

[Sirius Lee]

“The economy is great. All my Bank of America friends are doing well, c’mon man!”

[Mouton]

No problema, Joehole is probably planning on voiding the interest due and paying it from the fed. After all their spending is what is pushing the economy, no?

[SaveFerris]

The Devil HAS to make people slaves to debt

That’s yet another way to coerce them into taking the Mark of the Beast

Of course, that’s not going to happen tomorrow.

The biggest incentive will be to be able to BUY and SELL.

Groceries, taxes, water, gas, electricity, cell phone, internet. It will all be controlled.

Can’t happen in America?

It’s ALREADY happening with food in China. EIGHT MONTHS ago.

---

China...No Digital ID...Can’t buy food!

(BEST version of this short video - 1:20)

https://www.youtube.com/watch?v=f6diM6X2A8E

China - No digital ID can’t buy food - Next coming to USA and EU

(audio is a little unsynchronized with video)

https://www.youtube.com/watch?v=nxCgIPYHbkI

[maddog55]

Currently, credit card interest rates range from 5.75% to 36% for new applicants. The average interest rate among credit card offers is 23.00%, as of June 2024, 0.28% higher than the prior month.

The interest rates on existing credit card accounts are a bit lower. For example, people with credit card debt currently pay interest at a 22.75% average annual rate.

[CIB-173RDABN]

Credit cards are almost a necessity in this day and age. Carrying a balance isn’t.

I was shocked the first time I saw someone use a credit card to buy groceries (this was about 30 years ago) but not as shocked as someone using a credit card at a fast food place.

If reports are accurate most Americans do not pay off their credit card balance monthly, so these people will be paying on those groceries and fast food meals forever!

Credit card debt turns you into a serf for the credit card company.

The best financial thing I done in my life was to pay off all my credit card and never carry a balance (for the past 40 years).

[stylin19a]

21.47% ?
I just got a 30% notice from someone.
Don’t care. I pay ‘em off is I use ‘em.

[glennaro]

Credit card rates at 21.47%, debt over $1 trillion, inflation pressures intensifying consumer troubles ...

... and nearly half the country wants more of this ... and will vote to continue the accelerated slide into tyranny.

[Libloather]

And who invented the credit score? The credit card companies.

[PhillyPhreeper]

We received a notice from Macy’s on their changes to their credit card services. Their APR is now 34.5%.

[4yearlurker]

My Lowes card which I’ve had for years and never a late payment just went up to a 31% rate.

[bgill]

That 21% seems to have been charged for years. As you say, pay them off every month and you don’t notice, knock on wood. However, carry cash because many businesses are adding fees when cc are used.

Sure, times are hard but then people overspend and cause it to get harder. It is party mecca here with $$$ weekend rentals always full. Sorry, but if people are struggling then skip the vacation. There are plenty of free things to do and see in their own towns. I can’t think right now due to all the lawn crews which cost an arm and a leg. If you physically can, mow your own yard (waving hand) and use that money on the utility bill and you might get in better shape. No, you don’t need a new vehicle just because the neighbor got one. No, you don’t need enough shoes to stock a shoe store. No, you don’t need to go to the movies when there is the entire internet with movies. No, you do NOT need to eat out and waste an entire week’s pay on that one hour.

[wgmalabama]

Yet they say the banks are in trouble due to losses on other loans. They are making bank off of CC debt.

[stylin19a]

However, carry cash because many businesses are adding fees when cc are used.

thanks...I do.

Merchants are overcharging on the added fees and it only reduces their fees, doesn't cover it.
There is an ongoing lawsuit over fees: https://www.ksl.com/article/51052479/federal-judge-rejects-30b-settlement-between-visa-mastercard-and-retailers

Will merchants reduce their fees once the settlement is approved ? nah.

Some places no longer accept cash. I found that out in D.C. a couple of years ago.

Went to a Milwaukee Brewers game last year. No paper tickets...had to be on the phone. No cash accepted at concessions.

stay safe...

[MinorityRepublican]

Some places no longer accept cash. I found that out in D.C. a couple of years ago. Went to a Milwaukee Brewers game last year. No paper tickets...had to be on the phone. No cash accepted at concessions.

There should be a lawsuit by African-Americans who prefer to use cash. It discriminates them because they're not using credit cards. The US dollar is the legal tender so they can't deny it.

[fr_freak]

The best financial thing I done in my life was to pay off all my credit card and never carry a balance (for the past 40 years).

As a young man, I never had a credit card - didn't (and still don't) believe in buying things on credit. However, as we are being herded into a digital prison, and instant background checks and credit reports are the norm, I got a credit card to help establish a credit score, and I also always pay the balance monthly. The bonus is the "earning points" that I cash in once a year. I always pay cash, though, for certain things.

[fr_freak]

There should be a lawsuit by African-Americans who prefer to use cash. It discriminates them because they're not using credit cards. The US dollar is the legal tender so they can't deny it.

No kidding. When it suits their purposes Dems consider black Americans too stupid to get simple ID cards, but, hey, they should be able to set up cash and credit apps on their smart phones for digital pay at a ball game.

[CIB-173RDABN]

FreeRepublic needs a “like” button.