"Credit card losses are rising at the fastest pace since the Great Financial Crisis"

[Inner Dirt]

Originally Posted by Tom

This extravagant spending has to stop/
No one needs 3 meals a day, and heat in your home. You can buy a blanket for 10 bucks, and why can't you walk 30 miles to work every day?

Not everyone is in the peak physical condition of an NFL free safety like Joe Biden is.

[PaceAdvantage]

YouTube

[davew]

Some of the credit card company losses could be from new cards that were given very low interest for a couple yrars at sign up. Bidenomics inflation bumped up the interest rates for everyone.

[boxcar]

Originally Posted by ReplayRandall

In what country is this "strong economy" you're referring to??

It must be the one that has a national debt so large, we can't even wrap our minds around it. Nor will it ever be paid. But the Chinese financiers of that debt fret not, for they're holding excellent collateral in a land called the United States of Amerika.

[boxcar]

Credit card debt is so bad that I experienced something last month for the time ever in my life with respect to credit cards. A card I hold with a very decent credit limit on it contacted me to tell me that because I haven't used their card for while, they were going to reduce my credit limit by 25% -- even though my credit score is excellent -- well over 800! I have never defaulted on a credit card payment or bank loan or mortgage payment in my entire life. I have to think they did this as a precautionary measure to minimize their risk exposure.

[ElKabong]

Originally Posted by boxcar

Credit card debt is so bad that I experienced something last month for the time ever in my life with respect to credit cards. A card I hold with a very decent credit limit on it contacted me to tell me that because I haven't used their card for while, they were going to reduce my credit limit by 25% -- even though my credit score is excellent -- well over 800! I have never defaulted on a credit card payment or bank loan or mortgage payment in my entire life. I have to think they did this as a precautionary measure to minimize their risk exposure.

Same thing with me about 8 or 9 yrs ago. I didn't use my BOA credit card in over a year (credit score 800+) and was informed my credit would be limited if I didn't use it more. I guess it's common.

I use it once a month. Fill up the car

[Inner Dirt]

A trillion dollars is about $12,000 for every family of 4 in the USA, that is nuts.

[Rollingpk3]

just cancel all the cc debt like this moron did with the hand picked student loan forgiveness. country is such a joke and run by such losers let's just go all in. f anyone who is actually responsible.

[boxcar]

Originally Posted by ElKabong

Same thing with me about 8 or 9 yrs ago. I didn't use my BOA credit card in over a year (credit score 800+) and was informed my credit would be limited if I didn't use it more. I guess it's common.

I use it once a month. Fill up the car

So, it's not exactly a new policy. Interesting. But when Citi contacted me, they didn't even give me a chance to repent of my erring ways <g>. They just reduced my limit.

[jay68802]

They are just moving that risk somewhere else, since you are not using it.

[JustRalph]

Originally Posted by ElKabong

Same thing with me about 8 or 9 yrs ago. I didn't use my BOA credit card in over a year (credit score 800+) and was informed my credit would be limited if I didn't use it more. I guess it's common.

I use it once a month. Fill up the car

Had same thing happen with me. I had to remember to use it sometimes too

[davew]

Originally Posted by boxcar

It must be the one that has a national debt so large, we can't even wrap our minds around it. Nor will it ever be paid. But the Chinese financiers of that debt fret not, for they're holding excellent collateral in a land called the United States of Amerika.

China used to be a larger percentage holder near $1 Trillion. They have been lowering their holdings as our debt has multiplied. Japan is a larger holder. This is an interesting article and video clip from a couple months back, when debt was only $34 Trillion (now over $36).

https://san.com/cc/the-us-breached-3...ns-every-dime/