Article in Parade Magazine today. Last paragraph:
" Want an investment that can pay a guaranteed rate of return in the double digits? The average American household carries $9900 of debt on cards with a typical rate of 14%. Paying it off is like giving yourself a 14% return. What's more, credit-card companies are cutting their credit limits, which can hurt your credit score if you don't reduce your spending. Charge only 30% of your limit to keep from hurting your credit."
Almost $10K average cc debt? Unbelievable! What are the typical monthly payments on a balance like that? $400, $500?:coco:
http://www.parade.com/news/2008/11/safeguard-your-savings.html
" Want an investment that can pay a guaranteed rate of return in the double digits? The average American household carries $9900 of debt on cards with a typical rate of 14%. Paying it off is like giving yourself a 14% return. What's more, credit-card companies are cutting their credit limits, which can hurt your credit score if you don't reduce your spending. Charge only 30% of your limit to keep from hurting your credit."
Almost $10K average cc debt? Unbelievable! What are the typical monthly payments on a balance like that? $400, $500?:coco:
http://www.parade.com/news/2008/11/safeguard-your-savings.html
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