This NEW Credit Card NEWS Highlights A SERIOUS PROBLEM For Millions of people.
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- čas přidán 14. 06. 2024
- This new credit card news highlights a serious problem for millions of people.
In a recent news article by Fox Business, a serious problem was highlighted with consumers still want credit products including credit cards and personal loans, despite high interest rates.
The article suggests people are still willing to spend even though interest rates are high and resulting in high credit card debt.
The cost of living a day to day life was factored into why people are using their credit card products at a high rate, but there is also one issue not mentioned much in the article.
In this video, I explain why I believe this is a serious problem for millions of people, specifically credit card holders.
People seem to have settled in with accepting the high credit card debt that comes along with heavy spending and carrying over balances while credit card interest rates remain high.
Feel free to believe your opinion regarding this new credit card news below.
Do you currently have a problem paying off your credit card debt?
#creditcard #creditcards #creditcardnews #creditcardadvice
Article referenced in the video: www.foxbusiness.com/personal-...
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Thank you to everyone who watched this video. Be sure to "LIKE" the video and also, my 'E-Book 'Strategies to Master Credit' is available here: mastercreditbook.com/product/personal-debt-management
Several months ago we went out to Mexican for dinner. Our bill came to $130+ w/tip. Long story short, I seen my margarita was $3 more than my dinner. 🤔 On traveling, lesson learned here, I will not use a card again for trips or vacations other than a hotel stay or airline tickets. I'll have those funds ready for payment once the statement post.
I appreciate you sharing that story, Joel. Thanks for watching.
You know I enjoy your content. People use their credit cards as a “kick the can down the road” option. They believe that they will get a better job or a raise to eventually pay them off. I know this personally.
That's very true, Herbert. Thanks for watching.
If higher prices are the new normal (a term that I’ve grown to hate), i hope that wages go up, accordingly. I roll my eyes, so much, when I hear companies claim that they “can’t afford to give their employees raises”, despite reporting record profits.
I hear that often too, Tristin. Thanks for watching.
@@WaterYourSoil Of course, you put out good content. Keep on keeping on!
@@Tristin471 Thank you! I appreciate it.
Nell, you are so right! The Keeping Up with the Jones’s is a huge part of the credit card debt at this time. It’s true that prices are at all time highs, but for a lot of people they refuse to put a cap on their spending! Thanks as always for a thought provoking video!
That's facts, Joe. I appreciate you stopping by. Thanks for watching.
Agreed, I buy roughly the same items each week at the grocery store and my bill has lead to significantly more on my grocery bill.
It's wild to witness. The same is happening for me. Thanks for watching, Key.
Great info as always, Nell!
I appreciate it, Lani. Thanks for watching.
I love how relatable you are in your vlog 👍
I appreciate it. Thanks for watching.
Great information Nell and I agree 100%, most times travel is a luxury and not a need. Current grocery prices are very high. Thanks for the info Nell!🫵
Indeed. Thanks for watching, Cesar.
Thank you for your great advice and discouraging overspending.
I appreciate that, Frank. Thanks for watching.
I just got my first secured card through capital one. Am I supposed to only use 10% of the $200?
Congrats on your new card. Your credit card utilization is your call. Watch this video if you need help understanding how credit card utilization works: czcams.com/video/9bJPrj0Pn0w/video.htmlsi=h2S5JCRC_S-0xmDP
I would say use only as much as you can afford to pay off prior to your statement closing. The amount you have on the card when the statement closes is what's reported as your utilization. General rule of thumb is always pay your bill in full so your card can report as small a balance as possible.
The short answer is yes unless you're going to immediately pause it back but don't go over the limit.
Thank you for the video. I always thought it was a good practice to treat your credit card like it's a debit card.
Yeah, people do that. Thanks for watching, Dave.
I agree! Overall have to make sure spending within our budget! Great info 👏
Great advice, Tasha. Thanks for watching.
Great video
Thanks for supporting the video, Betty.
I purchased your book last week. I am looking forward to reading it. Thank you! 🙂
I appreciate you purchasing my book. Thanks for the support. I hope you get the most out of it.