Congrats to American credit card debtors!

Great to see this type of story.

Americans are paying down their credit-card debt at levels not seen in years. That is good news for everyone but credit-card issuers.

Large card issuers that cater to borrowers ranging from the affluent to the subprime say that overall card balances—and thus the firms’ interest income—are falling. To make up for it, issuers are spending more on marketing and loosening their underwriting standards.

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Time to apply!

The borrower is slave to the lender.
Dave Ramsey is having an impact.

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Who be Dave Ramsey?

This is shocking to be honest. A net positive no doubt. But shocking to see.

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With the supply side shortages it’s probably that ppl can’t find anything to buy

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Get ready for credit kiosks set up in high schools and changes to legislation to get younger and younger people CC’s.

I’m kidding but wouldn’t be surprised if this trend continues for any meaningful amount of time.

Financial guy on youtube with some good ideas and with some not so good ideas. My wife loves him.

He’s the guy that tells people to do things like pay off their credit cards. He’s brilliant!

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Pretty much everyone I know used the stimulus checks to pay off outstanding debts.

Well for a year a lot of people weren’t allowed to eat out, travel, drink in bars, I bet that stopped a lot of CC expenses.

People not going to work didn’t put gas/lunch out/business clothes on their CCs either.

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my CC (chase) sent me a email " no interest ever!" pay us a small fee up front

You are about to see CC debt go through the roofs now that’s to this old installed fucking retard fucking the country deep and hard

Yeah this will be short lived. When people pay well beyond asking for homes and overpay for new vehicles they will be right back to covering living expenses via credit cards.

Teaches people how not to be financial idiots. So of course very unpopular on the og.

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You are probably right just as they do with college students barraged with pre-approved credit cards and student loans with no means to repay them.
Once they bury them in debt, they own their future.