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How many Americans with high interest rate credit cards will be willing to stop

  1. kenjbrownken profile image61
    kenjbrownkenposted 8 years ago

    How many Americans with high interest rate credit cards will be willing to stop paying on their card

  2. dabeaner profile image56
    dabeanerposted 8 years ago

    Looks like a lot will as the CC companies up the screwing ante.  Look up "Ann Minch" and debtorsrevoltnow.com
    She has gotten a lot of publicity recently -- radio and TV interviews, and YouTube videos.

  3. J. McCoy profile image61
    J. McCoyposted 8 years ago

    I think the best way to 'make 'em hurt' is to pay down your cards as fast as possible and close every account. Authors like Dave Ramsey and David Bach have written extensively on how to live a normal and good life without ever using credit cards or needing car loans. Then they can try charging someone else their usurious interest and fees.

  4. Cheeky Girl profile image72
    Cheeky Girlposted 8 years ago

    How many will be stopping paying on their cards. The answer is those who run out of money, or those who are in debt, or those out of a job, or those who are maxxing their cards to high blazes just to keep a car on the road or keep food on the table...

    It's a ticking time bomb. And when it goes, we are going to see more chaos. And then there will be more bail outs.

    What's worse than losing your job? Ans = losing your job and having a large credit card debt.

  5. Springboard profile image82
    Springboardposted 7 years ago

    Americans should not stop paying them. They should stop using them. Look, I get it that the credit card companies have done pretty bad for their consumers and they are treating them like cash machines...

    But at some point the Americans who have gotten themselves into a situation where they have high balances and no money in the bank to cover them, have to take responsibility for their own actions.

    Like a gun doesn't kill people just because someone can put a bullet in it and pull the trigger, a credit card doesn't just rack up charges the consumer can't pay for because it happens to be in their wallet.

    Who's fault is it that the credit card company has the upper hand? Who put the consumer in a position to have to answer to a creditor?