Yeah ... many years ago I did not have a grip on the true interest charges and it took me out. Nobody's fault but me. Paying your debt off is important as lenders want your money

I agree, but credit card debt is a very very slippery slop. You really have to be careful and diligence in your charges and payments. Credit Card interest is so high, you can easily get carried away without even knowing it.

I think it's okay to have a small amount of credit card debt as long as it's manageable. The problem comes in when you have so much debt that you can't pay more than the minimum payment and you end up spinning your wheels with the interest.

A true definition of America. It's sad! I try not to buy things on credit that I can't pay the same month. Vacations are different though. I book pretty far in advance and I make sure that the credit card is paid off prior to taking the vacation. I don't know of anyone that doesn't have some sort of credit card debt.

Very interesting article. It's sad to think that this is the norm now. I don't know anyone that doesn't have some type of credit card in their possession and hasn't purchased something that they may not need. I know that I've been guilty of this on occasion.

I don't have anything to say!

I thought this would be interesting reading for everyone. Gives you a timeline of Americans and the insatiable appetite for "buy now pay later".



http://www.usatoday.com/money/books/reviews/2009-08-16-collateral-damaged_N.htm