Comments on: CONSUMER CREDIT CONTINUES ITS DECLINE

By: jt26

jt26 — Sat, 07 Nov 2009 21:41:39 +0000

I think it is a good sign that consumer credit is declining but (big) business credit is not. America can go back to making things that make life better and not just feel better by keeping pace with HGTV.

By: Robert

Robert — Sat, 07 Nov 2009 15:50:27 +0000

No, best option is to just skip the cards. Like is too short to keep up with and tip-toe around all the rules. Forget the credit card perks as that forces you to walk a mine field. One mistake (your or theirs) and you get nailed to the wall.

By: Rob

Rob — Fri, 06 Nov 2009 21:24:52 +0000

Why every week? If you want to stick it to the banks, transfer the payment so it gets there just in time, once a month. The banks then float you free money. (Always pay everything on time, but never early.) Also, make sure to use the rewards card that give the biggest reward (gas and groceries 5% cash back, etc).

I have never carried a credit card balance. I charge almost everthing I purchase on a credit card regardless of amount and pay the card off at the end month so the payment arrives at least 3 days early. (I never use a debit card and I rarely touch cash.) VISA and Amex love me. The banks are lukewarm on people like me. No credit risk but little profit.

By: Edna Rider

Edna Rider — Fri, 06 Nov 2009 20:51:11 +0000

I pay off all credit cards at the end of every week (Fridays!). Drives the spouse crazy. It’s my own quiet way of telling the banks and the government to stick it.

It looks like the computers are working at multithreaded speed to make sure today finishes in the green. What a joke.

By: SS

SS — Fri, 06 Nov 2009 20:32:04 +0000

Consumer credit is the real gauge if the underlying growth of our credit based economy. If consumer credit is contracting that means the real economy is still contracting outside of government stimulus.

This rally is still a bull shit Fed driven bubble and nothing more. This is proof.