Bad Credit Online Magazine - Daily News and Advice on Credit, Debt and Mortgage : Credit card debt increases
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October 04, 2005
Credit card debt increases
Credit card debt has increased significantly in the second quarter. Gasoline prices surge and card issuers boosting minimum payments are two main reasons. According to the American Bankers Association, the share of delinquent credit-card accounts rose to 4.81 percent during April to June from 4.76 percent in the prior three months.
Gas prices hit particularly hard those who literally live from paycheck to paycheck. Unable to cope more people become delinquent on their credit card payments.
Posted in Credit Cards at October 4, 2005 01:55 PM
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