[HiTech RedNeck]

It's a transfer of wealth from credit card companies to yourself or your kids.

And what happens if the amount outstanding is greater than what the estate (counting life insurance etc.) is worth? The companies eat the remaining debt; they can't go after the heirs for more.

[Wolfie]

The companies eat the remaining debt; they can't go after the heirs for more.

I'm not going to feel sorry for credit card companies that don't check out who they're lending money to anymore than I feel sorry for people who use credit cards to spend money they don't have.

[Eugene Tackleberry]

Yes, that's exactly what I am saying. I was throwing out a hypothetical of when it might make economic sense for seniors to run up credit card debt. I'm not arguing the morality of it one way or the other, just that it could be a way to legally transfer wealth from the credit card companies (or their shareholders ultimately).