"Americans spend $19 billion dollars using credit cards in one month"
Fixed it for you. A whole lot of us use credit cards exclusively. And we pay it off each month.
Could be. The article tries to paint a picture where that isn't quite the case:
"Wells Fargo reported on Fed data showing several regions experiencing a tightening in credit availability and an uptick in delinquency rates, pointing to a growing financial burden on households."
"Specifically, the New York Fed noted an increase in financial pressure among families with high debt burdens. Similarly, the Philadelphia Fed observed a widening gap where low-income households are reducing their spending but incurring more debt, contrasting with high-income households that continue to spend freely."
It's not a complete picture so I guess people are free to fill in the gaps as they please, but I don't see anything definitive here.
Well and the month they’re talking about happens to be November. Gee, I wonder why so many Americans were making purchases in November.
Sure, but the graph in the article shows a continuing increase. November is when it crossed the $5 trillion mark, and it was surely boosted due to holiday shopping, but the trend is ever-increasing.
I'm close to a thousand £ back in rewards over the few years I've been using it. It costs me £2 every month and i get a minimum of £20 back per month. But if I can pay for my car insurance or something truly big? Oh boy do my cash back go through the roof!
Could i live on debit alone? Sure. But then i wouldn't get hundreds back every year for simply using my card.
Plus guaranteed insurance on purchases. Doesn't show up and paid by cc. Reverse it. Paid by debit card, tough luck.
"Americans spend $19 billion dollars using credit cards in one month"
Fixed it for you. A whole lot of us use credit cards exclusively. And we pay it off each month.
Could be. The article tries to paint a picture where that isn't quite the case:
"Wells Fargo reported on Fed data showing several regions experiencing a tightening in credit availability and an uptick in delinquency rates, pointing to a growing financial burden on households."
"Specifically, the New York Fed noted an increase in financial pressure among families with high debt burdens. Similarly, the Philadelphia Fed observed a widening gap where low-income households are reducing their spending but incurring more debt, contrasting with high-income households that continue to spend freely."
It's not a complete picture so I guess people are free to fill in the gaps as they please, but I don't see anything definitive here.
Well and the month they’re talking about happens to be November. Gee, I wonder why so many Americans were making purchases in November.
Sure, but the graph in the article shows a continuing increase. November is when it crossed the $5 trillion mark, and it was surely boosted due to holiday shopping, but the trend is ever-increasing.
I'm close to a thousand £ back in rewards over the few years I've been using it. It costs me £2 every month and i get a minimum of £20 back per month. But if I can pay for my car insurance or something truly big? Oh boy do my cash back go through the roof!
Could i live on debit alone? Sure. But then i wouldn't get hundreds back every year for simply using my card.
Plus guaranteed insurance on purchases. Doesn't show up and paid by cc. Reverse it. Paid by debit card, tough luck.