Do you think it’s ok to have lots of credit card debt?
I ask this because many people believe that this is a great way to consume more and believe that hyperinflation will eventually pay for everything.
People have been accumulating debt like it’s a healthy habit. Like it’s a collectible item. Only one problem: It’s not. It’s a virus purposely created to trap you into their system. They give you terms you can’t easily pay back. If you don’t pay it back, they take your assets. If you have no assets, they take your credit. But in the end, the bankers rule the world and will always profit.
Credit Card Debt Study: Trends & Insights
https://wallethub.com/edu/credit-card-debt-study/24400/#average-paydowns-by-city
Delinquency Rate on Credit Card Loans, Banks Not Among the 100 Largest in Size (By Assets) | FRED | St. Louis Fed
https://fred.stlouisfed.org/series/DRCCLOBS
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2018’s Best Unsecured Credit Cards for Bad Credit