U.S. Credit Cards Debt is at $988 Billion
By Kharla Jolly
@kobesbuddy (78833)
East Tawas, Michigan
June 10, 2023 1:35pm CST
Goodness, I never imagined that the credit card debt in this nation is so
humungus !
If someone told me it was $98 Billion, I would have been shocked
by this high amount! Nope, it's 900 Billion dollars higher:(
I stopped using credit cards over twenty years ago. Yes, I have a debit card
which I use almost every day.
They tell me it's like a credit card, but I still don't charge anything on my card.
If I can't afford to buy something, then I just do without. Or else, go get something different that I can pay cash for.
Photo: Not mine, Pixabay
9 people like this
8 responses
@crossbones27 (53001)
• Mojave, California
10 Jun 23
That is it, haha. College debt is at 1.73 trillion last I heard and think was before Biden's Loan forgiveness plan. This country is being extremely dumb in my opinion how they choosing to make people live on debt. I owe only 2200 on my credit card. That makes me feel better I guess. Still what a dumb way to live always owing someone. I hate it miss lady.
3 people like this
@Scrapper88 (5980)
• United States
10 Jun 23
I do not have a credit card either. With the money I make; I am not even sure I could get one. I only use my debit card when I have to.
3 people like this
@kobesbuddy (78833)
• East Tawas, Michigan
10 Jun 23
I used to have two credit cards and ended up in a mess. Spending foolishly is never OK.
3 people like this
@kobesbuddy (78833)
• East Tawas, Michigan
10 Jun 23
Credit cards were originally created, as a convenience in case of an emergency. Some people got the misconception, ''now I can buy anything I want, the sky is the limit!"
1 person likes this
@RasmaSandra (98072)
• Daytona Beach, Florida
10 Jun 23
You and I think alike. When I decided to head off to Latvia I paid up all my credit cards and never had another one, Now I just use my debit card,
2 people like this
@kobesbuddy (78833)
• East Tawas, Michigan
11 Jun 23
I will never own another credit card, that interest ate us alive with financial debt! We lost our home, which was 25 years ago.
2 people like this
@Fleura (35077)
• United Kingdom
10 Jun 23
That is quite shocking. That's an average of about $3,000 per person, but of course a proportion of the population consists of children so the average per adult is obviously more.
Happy to say I have never had a credit card debt (even when I had a credit card).
2 people like this
@Fleura (35077)
• United Kingdom
10 Jun 23
@kobesbuddy That was a harsh lesson for sure.
2 people like this
@kobesbuddy (78833)
• East Tawas, Michigan
10 Jun 23
We got in deep trouble and lost our home, thanks to misuse of credit cards. That was 25 years ago, I refuse to own a credit card, ever again. It is far to tempting to overspend.
2 people like this
@kobesbuddy (78833)
• East Tawas, Michigan
10 Jun 23
@Fleura I had lived there for 25 years, it broke my heart losing that house!
2 people like this
@Chellezhere (6421)
• United States
10 Jun 23
I have a small one, and that's it, but I have had a few more in the past. Part of the blame is on the credit card users who overspent, but a lot more of the blame lies with our local, state, and federal governments. The debt would not be as high if we weren't being forced to pay taxes (like inflation).
2 people like this
@kobesbuddy (78833)
• East Tawas, Michigan
10 Jun 23
@Chellezhere Overspending is never OK, whether it's done with cash, checks or credit cards. It's called living above a person's means.
2 people like this
@Chellezhere (6421)
• United States
11 Jun 23
@kobesbuddy I know. I have always lived at or below my means.
1 person likes this
@RebeccasFarm (91297)
• United States
11 Jun 23
That is really not bad..I thought it would be more.
1 person likes this
@LindaOHio (222623)
• United States
11 Jun 23
Young people buy without thinking these days. We use our credit card all the time but just so we get the points and perks. We always pay it off every month. Over 900 billion is amazing. The credit card companies are making a killing in interest every month. Have a great Sunday.
1 person likes this
@kobesbuddy (78833)
• East Tawas, Michigan
11 Jun 23
I know older people who are even worse. You are using credit cards as a convenience item, the way they were originally meant to be used. Then, paying them off each month! The mature way to handle CCs:)
1 person likes this
@LindaOHio (222623)
• United States
12 Jun 23
@kobesbuddy You're right. That much debt comes from people of all ages. Have a good week.
