We'll that article is misleading, CC balances rose but its mostly from increased rates on the balances not people necessarily spending more. CC variable rates we're prolly in the low teens a year ago and now 20%+. Some of the increase is from people using CC more because tough to afford everything but mostly it must be from compounding interest. Too many people overspending when credit is flowing and rates low, not paying off the balances, now CC rates are killing them. But yeah people also buy too much crap they can't afford.
Surely the balance transfer offers will be flowing to their mailbox daily.
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Originally Posted by 2008M36MT
I’ll second that. What and how? The consumer is good at spending money they don’t have.
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