Quote:
Originally Posted by Blazed
Of course, I pay mine in full every month too. I was taking it as rolling balances that people can't get out from under because of the interest piling on top. It wouldn't make sense to report on how much someone's statement is per month if it's paid in full and no balance carried over.
I'd also say some (probably a small %) of the CC debt isn't even from reckless spending, it's because prices have increased so much for every day items they have no other choice but to charge it and are unable to pay it off every month. Not really their fault.
Really sad to see people struggling out there. And anyone who believes the inflation numbers we've been told needs to put on their big red nose and floppy shoes.
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I could be wrong, but I’ve always taken that data as whatever is reported ina given month to the credit bureaus. I don’t know how anyone would distinguish between balances that get paid off and those that accumulate.
Guess it depends on the source of the data.