Americans going back to the credit cards.....

[CLINT-THE-GREAT]

After 16 qtrs of being frugal, Americans are once again spending money on credit cards..

http://blog.ctnews.com/financialmines/2 ... dit-cards/


-The Great

[reddirtcoins]

Not me!.... I do not own one.

[xippi]

After 16 qtrs of being frugal, Americans are once again spending money on credit cards..

http://blog.ctnews.com/financialmines/2 ... dit-cards/


-The Great

This might have been a better headline.

After 16 qtrs of being frugal, raiding there 401k and savings accounts dry . Americans are once again spending money on credit cards

[creshka46]

The article writes it like it's a good thing. "Hooray! no more of that yucky living with our means deleveraging. Things are back to normal!

[barrytrot]

Bah, I don't trust these "studies" any farther than I trust the government.

The data can be highly manipulated.

People are using credit cards and they were for the last 16 months. Probably no more so.

Here is my guess as the reality of it:

Credit card companies are in collusion with the government trying to make them "look good". All they need to do is group their "credit card balance write offs" together for a while and it LOOKS LIKE people are using their cc's less. When in fact the reporting of bad debt write offs just reduced the balance of "dead debt".

It's a pretty easy trick and likely a major cause of the previous 16 "good quarters".