Credit Card Debt at Six-Month High
Wednesday January 9, 2008
November credit card spending was the highest it had been in six months, reports CNN Money.
Being overloaded with credit card debt isn't a good thing. It puts pressure on your budget, hurts your credit score, and could lead to additional financial difficulty.
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The category that includes credit card debt surged at an annual rate of 11.3 percent, a six-month high, reflecting the fact that shoppers are continuing to rely heavily on their credit cards to finance purchases since home equity lines of credit have become harder to get.The full article: Credit card debt at six month high after mortgage collapse
Being overloaded with credit card debt isn't a good thing. It puts pressure on your budget, hurts your credit score, and could lead to additional financial difficulty.
Recommended Reading:
Comments
I think the government needs to do something about giving out credit cards to just anyone.