Credit-Card Debt Nears $1 Trillion as Banks Push Plastic

Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic by unchocked on Friday May 20, 2016 @03:50PM (#11740905)

FWIW, I don't think you or I actually know that many average people. While we've got a pile of no-fee cards with high limits, many people get by with high-interest, low limit cards that have fees attached. Below that there are a lot of people who have to rely on prepaid Visa cards to participate in the cashless economy.

Source: have moved a _lot_ of credit cards through SEM.

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Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic by heimatau on Friday May 20, 2016 @05:07PM (#11741526)

I agree based on my post but...I've also read many 'stats' about this issue of US personal debt and have seen various figures range to what the OP wrote to adding a ZERO to each figure. 2.24 >> 22.4 cards. 7,000 debt >> 70,000 debt. Etc. The stats on this topic are just all over the place. Not only do I think 'you nor I' would know the averages, I don't think anyone really has a clue except maybe the FBI/Fed/CIA, if they ever looked into the matter.

One thing I think we can all agree on is that American's are deep into debt and it's not looking good. :/

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