Mighty Bargain Hunter

Credit card debt going DOWN?! Mass hysteria!

August 23rd, 2009 | by mbhunter |

DINKs Finance jogged my memory of this U.S. National Debt Clock in a recent post, so I popped over to check it out.

Of course, it’s mostly really bad news:  $11.7 trillion on the national debt; another person gets unemployed every 20 seconds; the unfunded liabilities like Social Security, Medicare, and the prescription drug benefit, are pushing $59 trillion.

But there was one piece of good news – perhaps an indication of some responsible American behavior, or perhaps merely a micro-drop of Wite-Out® for the reams of red ink, perhaps just a statistical anomaly.  USDebtClock.org’s take is that credit card debt is decreasing.

This is known in the personal finance world as a Very Good Thing.  We’ll see how long it continues.

Questions tagged credit-card at Cash Commons:

• When entering credit card information on a website, does the billing address have to be correct?
• Anybody have sucesss with 0% Balance Transfers on Credit Cards?
• Two of my credit cards got hit with fraudulent charges the same day. What gives?