Credit card delinquencies hit record

[firefox]

On PBS they were talking about the higher minimal payments that are coming. They said the American Bankers Association said that 5% of all credit card accounts are delinquent and that is a record high. They said that if you are late on one card all of the rates on your cards could rise.

There used to be usery laws that would not allow Sears to finance their stuff for 24.99% with a $25 late fee. It seems like this issue would be important to the religious right because it was Christian influence that backed the usery laws so strongly because of biblical/moral philosophy.

Google results for CREDIT CARD RECORD DELINQUENCIES- http://tinyurl.com/9gqp2

[Sabriel]

1. People charging at the gas pump

Many of my students do that. Shudder. I hate to think what's going to happen to most of them this coming winter, when the higher heating bills hit. They'll get out of college in arrears...if they ever get out.

[Greyhound]

2. It hasn't even started yet. Just wait for it. n/t

[BeHereNow]

3. Prepare for the "huddled masses" in YOUR backyard...

The new bankruptcy and credit card laws are
going to create the new dust bowl population.
Mark my words.
BHN

[karlrschneider]

4. My SO is stuck in the CC morass...keeps switching companies,

transferring balances & paying the minimum. He's not in deliquent status but he's not gaining any ground either. I cut up my cards years ago & tear up all the offers the come in the mail almost every day.

[tanyev]

5. No, that was the Catholic Church that had the usury laws.

Most of the Christian Taliban don't think Catholicism is very Christian.