http://www.upi.com/view.cfm?StoryID=20040308-025133-2535rWASHINGTON, March 8 (UPI) -- Around four out of 10 Americans recently polled are not really keeping up with their credit cards.
In a survey conducted by the Cambridge Consumer Credit Index, 42 percent of those polled said they were just making minimum payments or no payments on their credit card balances. Of those respondents surveyed with revolving balances on their credit cards, 39 percent made only the minimum payment due and 3 percent made no payments at all in February.
The survey also asked Americans who are taking on more debt why they are doing so. Forty-nine percent of respondents reporting that they are adding debt because they don't have funds to pay for purchases in full when credit card bills arrive, while 51 percent of those polled say they are taking on debt because they are confident of their ability to pay the balance off in full.
Overall, the Cambridge Index reported that 39 percent of those polled paid off their credit card balances in full last month.
"The results of the Cambridge Consumer Credit Index wildcard question show Americans are dramatically split between the haves and have-nots. The haves either don't use their credit cards at all or feel secure about paying off their credit card bills when they arrive," said Jordan Goodman, spokesperson/financial analyst for the Cambridge Consumer Credit Index....more...
Yes, I know that this is a Moony news source, but I found it
interesting that they would be reporting this...
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