Credit-card delinquencies hit record - Good read I thought.

[Outlaw1]

Originally Posted by CDeutsch

Credit can be such a scam. People need to be more careful about it because the government is making it harder to get out of it for those that are way over their head. Big chains like Marshall Fields are obsessed with it. I know people that work their, and even if they sold $10,000 in merchandise their managers wouldn't give a shit. They only care about how many credit cards their employees open because that's where the real money is. They even force their employees to use their credit cards to take advantage of store discounts in the hope you'll pay them back 10 fold in interest. It makes me sick. Don't ever open a store credit card.

It's hard to buy everything with cash, that's what I try to do though. Interest is just money thrown away. What blows me away is interest paid on home loans. Shocking.