-5 points
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https://www.cbsnews.com/news/credit-card-debt-total-us-2024/

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8 points

Cnbc loves this genre of FUD.

While true US CC debt is up but if you look per capita, it is not.

With that being said, rising debt is an indicator that people are relying on credit to fill gaps. If this continues, they will be fucked

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2 points

While true US CC debt is up but if you look per capita, it is not.

What do you mean? They aren’t accounting for population increase?

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0 points

The number given there is gross CC debt… Ie 1.1t

Which I think is historically high but population has grown by like 30m? Since 2008?

So per capita it ain’t highest it has ever been.

Long story short, CNBC is running FUD here.

If a quick search should provide results of this same shit being run every other months.

I notice them running this shit a while back and like clock work they got reposted on socials

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27 points

credit card companies could lower their APRs in response to a rate cut by the Fed, LendingTree credit analyst Matt Schulz told CBS News, providing some relief for borrowers in the months ahead.

Why in the world would they do that? Has anyone ever seen their credit APR decrease, ever?

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9 points

They won’t… This is a fud campaign to get peasants to ask for lower rates since fed ain’t listening to the “market”

Renk seeker always charges “what market can bare”

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1 point

Get peasants to ask the fed? When has the fed ever given a shit about what peasants say

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1 point

get a few on teevee crying about CC debt and mortgages, create a narrative that regular folks are suffering due to fed not cutting etc

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4 points
*

Jesus. We could only hope. I just bought a new car and I know it’s not a credit card, but even with my credit score in the 800s and a third of the vehicle price downpayment, the payments are fucking ridiculous at almost $600 all because of APR! I shopped around for financing too.

Maybe I missed something and am an idiot, but that’s what everything was telling me and even after applying with my bank, seeing what the dealer would offer, and checking some other sources, 5.8% was the best I could get.

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7 points

The things I would buy with a trillion dollar credit limit! Probably a 2nd air fryer.

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1 point

Dude imagine. Dual wielding air fryers.

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3 points

What happens when delinquency rates go up?

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