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4 thoughts on “Credit Card Debt

  • February 20, 2007 at 1:37 pm

    me neither- zero debt

    wonder how AZ gets away with single digit interest rates.

    regardless, the good news is, what goes up will fall down

  • February 20, 2007 at 1:53 pm

    It’s interesting, but…

    It’s only monitoring $1.8M in debts? That doesn’t seem like much.

    Also, the database consists of data from people who need help getting out of debt, so you’d assume the averages would be biased toward the high end.

    I totally agree that the interest rates are nuts. I don’t know what it’s like in the US, but some store cards (i.e. Sears Card) in Canada charge 28%+. I’m pretty sure there are some charging over 30%.

  • February 20, 2007 at 4:45 pm

    otoh – IF one used CC ‘stategically’ (for things they WILL actually NEED) then a proverbial mountain of debt wouldn’t be nearly as formidible as living absent preperation(s).

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