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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Elroy Jetson who wrote (24148)2/23/2005 12:37:37 PM
From: benwood  Read Replies (3) of 116555
 
As long as you continued to make your payments, however, you likely wouldn't see any card cancelled or reduced. The minimum payments are incredibly small -- I'm sure I could handle 300k, or for that matter, 1 million limit for a while. When somebody in my family went bonkers ten or so years ago, they started using cash advances from one card to cover minimum payments on another. The game simply continues until all cards hit their maximum.

I suspect there are an enormous number of people playing this game in between refis.
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