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Politics : Foreign Affairs Discussion Group

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To: Hawkmoon who wrote (15258)	1/1/2002 3:07:00 PM
From: MulhollandDrive	Read Replies (1) of 281500

>.And even with credit cards, when you have $1 trillion in purchases made with them every year, you have to be careful about the stats. Many people are like my father, who purchases everything with his GM card, so he can receive that discount on his next vehicle. And then he pays off the balance every month. But his purchases still count as "debt" for that month, despite the fact that he has the money to pay cash. So watch how you fling that "debt data" around.. It's more complex than many would have you believe..<, Hi Hawk... I agree with you that there are a tremendous number of "incentive" credit users out there (I am one) putting everything from food to gasoline to education on credit cards....however the last I heard the average outstanding credit card debt per household was approximately 5K. I doubt that the majority of those balances are being paid in full each month. I run my card up to about $3200 per month for incidental expenses (including gas and groceries) and pay it in full as it comes due, but I think people like your father and myself are exceptions, not the rule. Happy New Year..

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