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A comment on Credit-Card Debt Nears $1 Trillion as Banks Push Plastic. Parent comment

Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic by klodolph on Friday May 20, 2016 @01:48PM (#11739925)
Because we know that wealth is distributed unequally, and that a scrupulous individual earning $35k gross might have a cash flow under $1k.
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Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic by ptaipale on Friday May 20, 2016 @03:41PM (#11740837)
The debt is also distributed unequally. Mostly so that those who have more wealth, have also more debt (though not 1:1 of course).
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Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic by dionidium on Friday May 20, 2016 @04:09PM (#11741080)
On unsecured credit cards? I doubt it.
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Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic by morgante on Friday May 20, 2016 @05:05PM (#11741509)
Wealthier people are the ones who have unsecured credit cards. Banks apparently have no problem giving me a limit of $50k without any sort of collateral, but my dad can't get a credit card without depositing his entire limit.
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Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic by dionidium on Friday May 20, 2016 @05:06PM (#11741522)
I was given an unreasonable amount of unsecured credit when I turned 18, by virtue, apparently, of the fact that I was now 18. It certainly wasn't because I had any stable income or assets.
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Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic by morgante on Friday May 20, 2016 @05:20PM (#11741611)
My point was that larger credit limits typically come on unsecured cards, not secured ones.

For example, I can get a $20k limit card. It's pretty unlikely that you can get a secured card with a $20k limit.

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