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The Use Of Credit Cards
Part 1 of Paper
.... much money is
available and how much can be spent makes it very hard to get into debt.
When paying with a check the process is a bit trickier; the exact balance
has to be kept on the account at all time. Knowing what this balance is and
continuously replenishing it can be quite hard. Nevertheless, even with a
check c.... Part 2 of Paper
.... as a percentage of outstanding balance hit 3.267 percent. That is
the highest mark since recession of 1991.
"The picture is, some consumers are very, very deeply in debt,"
says Charles McMillion, chief economist with MBG Information Services. A
swipe of the card has become so natural that many consumers do not realize
how much they have charged, nor that it will take them forever to pay that
debt off. Seventy percent of respondents to a recent ABA survey said that
it would take them .... |
| Number of words: 465 - Approximate pages: 2 |
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